UNITED STATES April 08 2014 9:53 AM
NEW YORK (Scrap Register): United States shredded scrap prices advanced by 2% week-on-week to $400 a long ton in the week ended April 4th this year, as per the latest figures released by the The Steel Index.
According to TSI, US Midwest shredded index (delivered mill) ticked up $8 a long ton to finish at $400 a long ton on the back of high scrap demand.
Buyweek in the US market got off to a strong start, with prices up in the range of $20-25 a long ton on last month. However, by the middle of the week it was evident that a degree of regional disparity existed.
Early trades settled by Ohio Valley mills were significantly more expensive than subsequent deals completed by mills in other regions, who had successfully bided their time on the side-lines in anticipation of the market losing steam.