UNITED STATES August 29 2016 6:27 PM
NEW YORK (Scrap Register): United States shredded scrap prices plunged during the week ended July 08, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed steady.
According to TSI, US Midwest shredded scrap index dropped by $9 a long ton the week to $241 a long ton. Steel producers have entered the July scrap market with purchases $10 a long ton below June price levels and in line with early July sentiment.
Not all pricing had been finalized this week as other US Midwest mills were believed to be holding out for larger discounts on obsolete grades.
Platts reported other regions have been slower to pick up trading, particularly in the Southeast where it was reported that the largest EAF group were yet to issue firm offers to suppliers.
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.