US Shredded Scrap prices bounce back to $261 a long ton; Scrap Gold down

UNITED STATES March 18 2015 10:05 AM

NEW YORK (Scrap Register): United States shredded scrap prices bounced back week-on-week during last week, while the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend in line with futures prices.

United States shredded scrap prices advanced by $4 a long ton to $261 a long ton (delivered mill) in the week ended March 13, as per the latest figures from the Steel Index.

Buying for March deliveries wrapped up early the week, with prices firming slightly from those seen at the beginning of last week.

Participants claim flows into yards have dried up, whilst mills continue to carry low utilization rates, bringing the market into something resembling a balanced state.

With flows as light as they are, any significant up-tick in mill demand has the potential to send prices higher in April.

As per Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend last week followed by the yellow metal's down-trend in future market. However, aluminium, copper, brass, electronic, nickel, steel, zinc and lead scrap prices showed mixed trend last week.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)