FUTURES WRAP: LME scrap contracts down, near-term backwardation strengthens

Near term scrap futures contracts on the London Metal Exchange saw losses over the week to Sept. 15, while weekly trading volumes decreased. Platts, part of S&P Global Commodity Insights, assessed the September contract down $7/mt on the week to $358/mt, while October dropped $12/mt to $347/mt. The November contract fell $11.50/mt to $352/mt, while December was down $3.50/mt at…