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Listen: US steel scrap prices at six-year lows as dealers look to September

The US ferrous scrap market is preparing to enter into negotiations for September after the August buy brought price falls from $20-$30/lt compared to July. Nicholas Tolomeo, managing editor for steel scrap, describes how prices are down around $140/lt from August 2014 and scrap supply is comfortably meeting the low demand from mills. What could prices look like in September, especially after the stock market tremors earlier this week, and what could potentially give prices an upward bump?

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