FUTURES WRAP: LME scrap contracts see losses but shifts to soft near-term contango

Near term scrap futures contracts on the London Metal Exchange saw strong losses over the week to June 9, while the trading volumes decreased on the week. S&P Global Commodity Insights’ Platts assessed the June contract down $30.50/mt over the week to $419.50/mt on June 9, while the July contract decreased $28.75/mt to $416.25/mt. The August contract fell $22.50/mt on…