US Silver Scrap prices decline; Silver Futures settle higher

UNITED STATES February 02 2016 4:26 PM     

NEW YORK (Scrap Register): United States silver scrap prices  declined on Monday, while silver futures prices at New York Mercantile Exchange  settled higher mainly due to worries about global economic growth and hopes for  easier monetary policy after weak factory data.

The major silver scrap  commodities on the Scrap Register Price Index traded down on Monday. The  hallmarked silver scrap prices declined to $11.74 an ounce and non-hallmarked  silver scrap prices dropped to $10.42 an ounce.

The most  active March silver contract on the COMEX division of the New York Mercantile  Exchange settled higher by 10 cents to $14.343 an ounce on  Monday.

China's official measure of manufacturing in January fell to the  lowest since mid-2012, while factory growth across the euro zone slowed.  

Data also showed that US manufacturing activity was unlikely to recover  in the near term, while consumer spending was flat in December.