US Silver scrap prices decrease in line COMEX Silver

UNITED STATES March 21 2016 9:53 PM

NEW YORK (Scrap Register): United States silver scrap prices decreased on Friday in line with silver futures prices at New York Mercantile Exchange as sentiment on the U.S. dollar remained vulnerable after the Federal Reserve's most recent policy statement.

The major silver scrap commodities on the Scrap Register Price Index traded down on Friday. The hallmarked silver scrap prices decreased to $13.016 an ounce and non-hallmarked silver scrap prices dropped to $11.56 an ounce.

The most active March silver contract on the COMEX division of the New York Mercantile Exchange settled lower by 22.2 cents to $15.811 an ounce on Friday.

Fed policymakers said the U.S. economy faces risks from an uncertain global economy, although moderate growth and "strong job gains" would allow it to tighten policy this year. The greenback found some support however after the U.S. Department of Labor said on Thursday that jobless claims rose less-than-expected last week.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)