UNITED STATES June 17 2014 8:04 AM
NEW YORK (Scrap Register): United States shredded scrap prices advanced by $3 a long ton week-on-week to $371 a long ton in the week ended June 13th this year, as per the latest figures released by the The Steel Index.
According to TSI, US domestic scrap market displayed something of a rebound last week, with the market finding a bottom for the short term at least meaning TSI’s US Midwest shredded index (delivered mill) gained $3 a long ton.
As mills returned to the market to secure additional tonnage following buy week, they were met with resistance from yards who were now in a situation where they could demand higher pricing as supply of material was now more constrained.
Mills were also seeking extra material for their June purchases owing to the public holiday in the first week of July.