UNITED STATES November 26 2013 11:35 AM
NEW YORK (Scrap Register): United States shredded scrap prices continued to remaine flat week-or-week at $389 a long ton in the week ending November 22nd this year, as per the latest figures released by the The Steel Index.
According to TSI, US shredded scrap index (delivered Midwest mill) remained flat this week, owing to the fact that most mills are currently maintaining healthy scrap inventory levels and there is a lack of material readily available on the country’s East coast.
These high inventory levels have provided some downward pressure onto the ferrous scrap price in the US, although many market participants expect prices to move mostly “sideways-to-up” for December settlement.