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American flat product price keeps dropping, continuing its downward trend.
Busheling scrap price always affects the flat product’s price; however, busheling’s price didn’t decrease last week. It’s said that flat product’s price will not decline by more than US$110/ton.
Furthermore, America’s stock market has decreased to US$661/ton during these two weeks and the CRC price keeps on dropping as well. Most CR mills have cut output in order to lower costs. Recently, some overseas mills have continued their quotes to America, but recently Russia has been the biggest competitor in America’s domestic HRC market.
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