UNITED STATES April 13 2016 10:35 AM
NEW YORK (Scrap Register): United States shredded scrap prices remained flat during the week ended March 25, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index showed an up trend.
According to TSI, US Midwest weekly shredded index remained flat this week at $204 a long ton (delivered mill). There has been a lack of availability of significant quantities of coastal scrap for domestic mills as a result of rising export prices and demand.
Scrap suppliers are therefore hesitating to supply the coasts as they wait to see how high domestic pricing will climb, particularly with April buy-week ahead.
Participants are expecting a climb of $20 long ton for April scrap prices, with some bullish participants even looking at the market increasing $30- $40.
The reason for the bullish outlook is due to export volume demand and pricing being very strong, as well as a demand supply imbalance and finished steel price increase announcements.
The weekly average scrap prices of major aluminum scrap including 356 Auto Wheels, Al/Cu Rad with Iron, Al/Cu Radiator and Alum Rad with Iron gained during the week.