UNITED STATES June 27 2016 9:04 PM
NEW YORK (Scrap Register): United States shredded scrap prices remained stable during the week ended June 03, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed unchanged.
According to TSI, US Midwest weekly shredded scrap index remained flat this week at $270 a long ton (delivered mill).
Buy-week negotiations for June gained traction this week, however, mills and scrap suppliers were still seeking clarity from a quiet export market where rumours were rampant but confirmed trades scarce.
Participants are anxiously watching the export market during buy-week to see where prices will settle as they believe that, if a trade comes to light prior to the end of buy-week, this will have a major influence on domestic prices.
Market sources currently believe that prices in the US Midwest are expected to be down $20 a long ton on May levels.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)