US Shredded Scrap prices remain flat at $405 a long ton

UNITED STATES March 05 2014 10:18 AM

NEW YORK (Scrap Register): United States shredded scrap prices remained flat week-on-week at $405 a long ton in the week ended February 28th this year, as per the latest figures released by the The Steel Index.

According to TSI, US shredded index (delivered Midwest mill) remained flat as the market appeared to be in a state of slumber with sentiment on the wane.

With some mills running at reduced utilization through the winter period, scrap demand is certainly not as high as it could be and supply remains available despite the inclement weather.

Coupled with an unpredictable and largely subdued export market of late, sideways-to-downward pricing is the general expectation among participants at present.