US Shredded Scrap prices rise to $379 a long ton

UNITED STATES July 15 2014 11:35 AM NEW YORK (Scrap Register): United States shredded scrap prices rose by 1.6% week-on-week to $379 a long ton in the week ended July 11th this year, as per the latest figures released by the The Steel Index.

According to TSI, US Midwest shredded index gained $6 a long ton last week to finish at $379 a long ton (delivered mill).

As trading began for July procurement a familiar picture emerged, with significant regional disparity and a cooling of the market as the week progressed.

Mills with low inventories kicked off the buying at levels up to $15 a long ton higher than June, whilst those who could afford to wait were rewarded with yards offering little resistance to prices sideways-to-slightly-up by the end of the week.