US Shredded Scrap prices decline significantly by $20 a long ton

UNITED STATES October 07 2014 12:15 PM
NEW YORK (Scrap Register): United States shredded scrap prices declined significantly by $20 a long ton week-on-week to $363 a long ton (delivered mill) in the week ended October 03, as per The Steel Index.

According to TSI, US shredded prices fell as volatility returned to the US market after a period of relative calm.

Some mills are carrying out planned outages, whilst plummeting international scrap prices have halted scrap exports from both the East and West coasts in their tracks.

This has served to create a glut of material in the US domestic market, with yards showing little resistance to these decreases.