It is reported that Nucor announced to cut the scrap surcharge for steel sheet contract prices for July 2012 by USD 65 per short ton to USD 210 per short ton in response to falling scrap prices.
The price cut was based on the base prices of H1 scrap in Chicago.
Meanwhile, it's known that spot prices of steel sheet have kept decreasing in the US domestic market since May 2012.
Source - yieh.com
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