UNITED STATES May 12 2016 10:15 AM
NEW YORK (Scrap Register): United States shredded scrap prices remained flat during the week ended April 22, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stsyed stable.
According to TSI, US Midwest weekly shredded index remained flat at $255 a ton (delivered mill). International scrap prices rose above domestic US pricing for the first time in over two years, in turn continuing to encourage scrap sentiment this week.
Exporters on both coasts raised offer prices to domestic suppliers in order to secure material amid surging export markets. US bulk scrap sales into Turkey were approaching $300 a ton and participants made it clear that they would not sell to domestic mills at sideways levels.
The prolonged rally in the global scrap market has resulted in many domestic dealers turning bullish for May buy-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.