LME scrap volumes firm in Aug to date, futures contracts in backwardation

Volumes traded for the scrap futures contracts on the London Metal Exchange in August to date have more than doubled in comparison with the whole of August 2023, reaching 766,320 metric ton, up from 355,570 t, as volumes continued to perform strongly with five trading days remaining in the month. Spot prices for physical imports of premium heavy melting scrap…Volumes traded for the scrap futures contracts on the London Metal Exchange in August to date have more than doubled in comparison with the whole of August 2023, reaching 766,320 metric ton, up from 355,570 t, as volumes continued to perform strongly with five trading days remaining in the month. Spot prices for physical imports of premium heavy melting scrap…Read More