This month has seen signs of more activity in Europe's scrap market with many more transactions taking place as export demand bounces back. Meanwhile, adverse weather conditions continue to afflict Northern Europe, limiting scrap collection & processing, resulting in scrap supplies remaining extremely tight in Europe. With little improvement to supply conditions anticipated in the near term, the higher demand for scrap this month is exerting an upward pressure on prices causing them to rise to new heights, with most European prices expected to reach new 12-month highs.
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