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Home / Metal News / US Shredded Scrap prices drop slightly to $388 a long ton

US Shredded Scrap prices drop slightly to $388 a long ton

Mar 19, 2014 15:10

Source:SMM

United States shredded scrap prices dropped slightly by $1 a long ton week-on-week to $388 a long ton in the week ended March 14th this year, as per the latest figures released by the The Steel Index.

UNITED STATES March 19 2014 12:31 PM

NEW YORK (Scrap Register): United States shredded scrap prices dropped slightly by $1 a long ton week-on-week to $388 a long ton in the week ended March 14th this year, as per the latest figures released by the The Steel Index.

According to TSI, US shredded index (delivered Midwest mill) ticked down $1 a long ton last week, to finish at $388 a long ton.

Material was seen traded at sideways-to-downwards pricing compared to last week, with bearish sentiment continuing to linger in the market.

However, rumors were circulating that mills would attempt to raise finished steel prices to attempt to stop the rot, aided by a rebound in iron ore prices, meaning scrap may also find support.

It remains to be seen if a there is a rebound in the coming weeks following the large fall seen in March.

The Steel Index

the The Steel Index (TSI)

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