Longs prices were flat in May as participants wait for the scrap trade. With scrap prices now expected to fall as much as $50 /l.ton m/m, mills have started to face resistance on further prices increases. Demand for longs has been steady, but not enough to support continued rises in price. Mills rolled over prices for May to help preserve margins m/m, but further weakness in scrap is adding to the downward pressure.
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