UNITED STATES May 03 2016 4:35 PM
NEW YORK (Scrap Register): United States shredded scrap prices advanced significantly during the week ended April 08, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index continued to remain flat.
According to TSI, US Midwest weekly shredded index increased $29 a long ton to $253 a long ton (delivered mill). This equates to an increase of US$49/l.ton for the past two weeks, which is perfectly in line with the market consensus that average prices are up $50 a long ton.
The nontraditional entrance into the market by mills on a Friday did not surprise some in a market with quickly escalating prices ahead of the annual Institute Scrap of Recycling Industries (ISRI) convention in Las Vegas this week.
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.