US Shredded Scrap prices remain flat at $403 a long ton

UNITED STATES April 24 2014 11:12 AM

NEW YORK (Scrap Register): United States shredded scrap prices remained flat week-on-week at $403 a long ton in the week ended April 18th this year, as per the latest figures released by the The Steel Index.

US Midwest shredded index (delivered mill) remained flat last week, with the small volumes of scrap transacted at similar levels to the previous week.

Initial market chatter is of prices softening in May, with warmer weather expected to bring increased scrap supply onto the market, placing downward pressure on pricing.

However, a lot will depend on Turkish steel mills’ appetite for East Coast material-strong exports would provide support to US domestic pricing.