Pittsburgh—The July US scrap buy kicked off July 7 when a Detroit area mill entered the market mid-day offering down $20/lt on shred and down $40/lt on prime grades when compared to June pricing. Other than that, the bulk of July trading has yet to take place, but most sources expected down $20/lt on shred and down $40/lt or more on primes in the Midwest. "I assume others will follow," said an Ohio Valley supplier. "Domestic seems like July will be three-tiered pricing: Prime down $30/lt, shred down $20/lt-ish, and cuts down $10/lt," said one trader.
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