US Shredded Scrap prices slip to $166 a long ton; US Aluminum Scrap prices drop

UNITED STATES November 24 2015 2:10 PM

NEW YORK (Scrap Register): United States shredded scrap prices slipped during the week ended November 13, while major US aluminum scrap commodities prices on Scrap Register Price Index traded down.

According to TSI, US Midwest weekly shredded index slipped by 1 long ton the week to $166 a long ton (delivered mill).

Scrap purchases continued to be concluded at down $10-20 long ton depending on region as November buys were completed. Attention has now shifted to mid-month activity as some mills seek additional tonnage, with yards reportedly able to up their offer prices. 

Yards are looking to possible price rises in the coming months as winter sets in whilst mills carry limited inventory. 

However, they are also conscious of the fact that scrap is being withheld from the market, and any significant rise would probably see a lot of material come out of the wood work and put a lid on any large price rises.

The major aluminum scrap commodities on the Scrap Register Price Index continued to trade down on Monday. The scrap prices of Alum Extrusion, 6063 Extrusion, Al/Cu Rad with Iron, Al/Cu Radiator, Alum Litho Sheets, Alum Old Sheet, Alum Radiator and Alum Transmission traded down during the week.