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FUTURES WRAP: LME scrap contracts down, near-term backwardation strengthens

September 16, 2022 Comments Off

Near term scrap futures contracts on the London Metal Exchange saw losses over the week to Sept. 15, while weekly trading volumes decreased. Platts, part of S&P Global Commodity Insights, assessed the September contract down $7/mt on the week to $358/mt, while October dropped $12/mt to $347/mt. The November contract fell $11.50/mt to $352/mt, while December was down $3.50/mt at…