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Scrap prices could strengthen in coming months

DJJ head says scrap prices could strengthen in coming months

After falling in the second quarter, scrap prices appear to have temporarily bottomed and may even be heading upward, according to Keith Grass, CEO of Nucor’s scrap unit, David J Joseph (DJJ).

Speaking during a quarterly earnings call yesterday, Grass said flows into company scrap yards appear to have declined 25 to 30%. Inquiries from the export market have picked up, he said, something that had been absent for the last 30-45 days.

Courtesy: Steel Business Briefing

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