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17 Jun

Spanish scrap prices plunge

Spanish scrap prices reached new lows at the end of last week. The new E8 quality has fallen by almost €75/tonne ($76.17/t) since the beginning of the second full week of June. Local market participants tell Kallanish that such a sharp decrease was driven by the drops in global markets. “Over the last few weeks, most steel mills replenished stocks and stopped buying material, while waiting for new market adjustments to be confirmed,” a local sourc…
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