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US scrap, pig iron prices on a slide
February 11, 2009: Scrap and pig iron prices have been steadily dropping in the US.
According to a media report, current scrap prices on the East Coast stood at $230 to $240 per ton and shredded scrap prices were $220 to $230 per ton while H1 scrap prices touched $195 to $205 per ton.
Scrap export prices were also very low because of weak demand for steel products and low steel production. The H1&H2 (80:20) mixed scrap was exported to Turkey at $265 per ton cfr, down $15 per ton compared to January. The price of pig iron exported to Brazil was $260 per ton.
Source: Steel Insights Bureau
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