LME scrap, rebar volumes dip slightly on week; futures contracts enter slight contango

Volumes traded for scrap futures contracts on the London Metal Exchange, which settle on Platts assessment basis, dipped on the week despite a flurry of restocking as physical spot prices stabilized. After a period of upside in early September, spot prices for physical imports of premium heavy melting scrap 1/2 (80:20) stabilized as sources reported balanced market fundamentals in the…Volumes traded for scrap futures contracts on the London Metal Exchange, which settle on Platts assessment basis, dipped on the week despite a flurry of restocking as physical spot prices stabilized. After a period of upside in early September, spot prices for physical imports of premium heavy melting scrap 1/2 (80:20) stabilized as sources reported balanced market fundamentals in the…Read More