FUTURES WRAP: LME scrap contracts see strong losses on week, trading volumes fall

Near term scrap and rebar futures contracts on the London Metal Exchange saw heavy losses over the week to May 12, while the trading volumes decreased on the week. S&P Global Commodity Insights’ Platts assessed the May contract $52.50/mt lower on the week to $482.50/mt May 12. The June contract fell $61/mt to $469.50/mt, while the July contract lost $66/mt…