Tightness in Scrap availability may lift US domestic Scrap prices in January

UNITED STATES December 30 2015 10:44 AM

NEW YORK (Scrap Register): The December US domestic scrap buy-week saw prices either remain flat or up as much as $20 a long ton depending on region and volume bought. 

According to The Steel Index, Some are talking up a rise of $10-20 a long ton in January owing to tighter flow into yards. Others felt some yards held onto tonnages this past buy-week, so there could be a lot of material to shift against a backdrop of continuing slack steel demand.

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However, TSI’s monthly US shredded 10-day average index for November was $166 a long ton. 

The monthly average of TSI’s established weekly US domestic shredded scrap index (delivered Midwest mill) fell by 8.3% month-on-month or $15.05 a long ton to $166.20 a long ton in November. 

The weekly price of $166 a long ton marked another record low for the index.

(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)