UNITED STATES September 06 2016 6:49 PM
NEW YORK (Scrap Register): United States shredded scrap prices down during the week ended July 15, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed flat.
According to TSI, US Midwest shredded scrap index dropped $3 a long ton during the week to $238 a long ton (del. Mill).
US mills finalized their July scrap procurement programs at around $10 a long ton down from May, as TSI’s 10-day average of shredded scrap index printed at $241 a long ton on Monday.
US mills have increased the scrap price premium over obsolete grades for the second consecutive month, according to Platts.
However, a mill buyer believed that this spread will shrink in the near future, but whether obsolete prices increase or prime scrap levels fall remains to be seen.