Pittsburgh—Market sentiment remained upbeat Wednesday in the US ferrous scrap market ahead of the expected August buy week, fueled by recent steel sheet price increases and stronger mill order books. “Certainly the sellers of scrap are not as bearish as they were a month ago; they’re now in the bullish camp,” said one Midwest supplier. With the bullish outlook, no mills were heard to be canceling undelivered July scrap. Most market players speculated that price levels in August could be $10-$30/lt above July pricing.
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