UNITED STATES September 17 2015 10:41 AM
NEW YORK (Scrap Register): United States shredded scrap prices remained flat during the week ended September 11, while major US aluminum scrap commodities prices on Scrap Register Price Index stayed almost stable.
According to TSI, US Midwest shredded index remained flat at $230 a long ton (delivered mill) the week. Sellers looked fortunate to have made their sales prior to the huge falls seen in exports to Turkey the week.
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Participants suggest that exporting yards have now lowered their bids to local suppliers significantly, and have faced resistance to these prices.
Could the market have reached an infliction point where supply will dry up on the back of these lower offers?
As per Scrap Register Price Index, United States aluminum scrap commodities also showed a flat trend during last week.
The scrap prices of 356 Auto Wheels, 5052 Alum Clip, 6061 Alum Extrusion, 6063 10-10 Extrusion, Al/Cu Rad with Iron, Al/Cu Radiator, Alum Breakage 50%, Alum Litho Sheets, Alum Old Sheet traded almost flat during last week.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)