US Shredded Scrap prices decline; Aluminum Scrap prices remain stable

UNITED STATES July 05 2016 6:37 PM

NEW YORK (Scrap Register): United States shredded scrap prices declined during the week ended June 10, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index continued to remain stable.

According to TSI, US Midwest weekly shredded scrap index dropped $10 a long ton during the week to $260 a long ton (delivered mill). Prices were observed in a wide range, with trades as low as $245 a long ton and other mills buying closer to the $300 a long ton mark. 

The first bulk cargo out of the East Coast to Turkey was reportedly booked this week at $235 a ton CFR Turkey after a month of no activity in the export market. This may give an indication that the domestic market is oversupplied and sentiment may turn bearish.

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 showed almost a flat trend during the 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)