US Shredded Scrap prices decline sharply; Aluminum Scrap prices remain flat

UNITED STATES September 15 2015 4:45 PM     

NEW YORK (Scrap Register): United  States shredded scrap prices declined sharply during the week ended September  04, while US aluminum scrap prices on Scrap Register Price Index remained almost  stable.

According to TSI, US Midwest shredded index dropped $8 a long ton  to $230 a long ton (delivered mill) the week as many of September’s purchases  were concluded.

Initial  settlements were concluded sideways, but pricing soon moved to down $10 a long  ton and as much as down $15 a long ton.

Shred was reportedly readily  available from multiple suppliers, meaning buyers could take their pick and  insist on discounts from last month’s levels.

News of a prompt ex-US  cargo of HMS #1&2 80:20 at $220.50 a ton CFR Turkey only served to further  dampen sentiment, which some mills yet to complete their purchases.

As  per Scrap Register Price Index, United States aluminum scrap commodities also  showed a flat trend during last week. The scrap prices of 356 Auto Wheels, 5052  Alum Clip, 6061 Alum Extrusion, 6063 10-10 Extrusion, Al/Cu Rad with Iron, Al/Cu  Radiator, Alum Breakage 50%, Alum Litho Sheets, Alum Old Sheet traded almost  flat during last week.