FUTURES WRAP: LME scrap, rebar futures suffer losses across amid expected physical softness

摘要

Scrap and rebar futures contracts on the London Metal Exchange saw losses across the forward curve for August-November contracts over the week to Aug. 13, on concern for near-term physical market strength and a weaker domestic Turkish market. The August LME scrap futures contract was down by $2.50/mt on week, sitting at $289.50/mt on Aug. 13, while the September contract kept stable over the week to $288.50/mt, suggesting an expectation of short-term price weakness due to a drop-off in scrap buying. October and November contracts also saw losses, down $1/mt and $4.50/mt over the week to Aug. 13 to $283.50/mt, and $278/mt respectively.