UNITED STATES April 01 2014 11:40 AM

NEW YORK (Scrap Register): United States shredded scrap prices rose by $4 a long ton week-on-week to $392 a long ton in the week ended March 28th this year, as per the latest figures released by the The Steel Index.

According to TSI, US Midwest shredded index (delivered mill) ticked up by 1% to $392 a long ton. as the traditional buy-week looms on the horizon.

Initial talk between participants is of a $20-30 a long ton rise for shredded material. This perception has been backed up by sporadic trades completed well over $400 a long ton.

Scrap inventories are said to be on the low side, with some mills heard to be fairly anxious to secure prompt deliveries.