US Shredded Scrap prices stay flat; US Aluminum Scrap prices show down trend

UNITED STATES February 01 2016 11:20 AM     

NEW YORK (Scrap Register): United  States shredded scrap prices stayed flat during the week ended January 22, while  major US aluminum scrap commodities weekly average prices on Scrap Register  Price Index showed negative trend.

According to TSI, US Midwest weekly  shredded index remained flat during the week at $189 a long ton (delivered  mill).

Utilization  rates at mills have continued to increase, and are now running near 70%, a  positive sign for the sector. Mills are, however, still reluctant to buy new  supplies, even with plenty of offers going around, due to inventories having  been restocked in January.

According to participants, inventories will  begin to become quite low next week and hence buying will increase again, with  supplies expected to be sucked in from the east coast.

The weekly average  scrap prices of Al/Cu Rad with Iron, Al/Cu Radiator, Alum Breakage, Alum Litho  Sheets, Alum Old Sheet, Alum Transformer and Mix Alum Casting declined during  the week.