According to TSI, US Midwest weekly shredded index remained flat this week at $166 a long ton (delivered mill) as negotiations were put on hold for the Thanksgiving holidays in the country.
The likely direction of pricing for December buys remains unclear, but the consensus appears to be stable to slightly higher pricing.
Strong export volumes into Turkey over the past month are likely to be counteracted by continued lacklustre demand from US domestic mills, but some yards are claiming shredded and HMS is in particular short supply.
This could be exacerbated by the onset of wintery weather in the Midwest, whilst it remains to be seen if plentiful prime grades can take up the slack.
The major aluminum scrap commodities on the Scrap Register Price Index showed down trend during the week. The weekly average scrap prices of 5052 Alum Clip, 6061 Alum Extrusion, 6063 Extrusion, Al/Cu Rad with Iron, Al/Cu Radiator, Alum Litho Sheets, Alum Old Sheet, Alum Turning and Mix Alum Casting declined during the week.