UNITED STATES March 08 2016 6:48 PM
NEW YORK (Scrap Register): United States shredded scrap prices continued to remain flat during the week ended February 26, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index almost showed a flat trend.
According to TSI, US Midwest weekly shredded index remained flat again at $182 a long ton the week (delivered mill). There was a bearish sentiment prevailing in the market earlier this week, but with only a few days until the March buy week this has subsided.
Scrap flows have been tight on the East Coast and therefore those mills that have been looking to push the market down will struggle to do so.
Market participants have, however, showed concern at potential mill shutdowns, which would be bound to have a negative effect on pricing.
March buy week is beginning on Tuesday and the overall market expectations are that prices will remain flat.
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 remained almost flat during the week.