UNITED STATES September 19 2016 12:13 PM
NEW YORK (Scrap Register): United States shredded scrap prices declined during the week ended August 05, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index showed mixed trend.
According to TSI, US Midwest shredded scrap index dropped $6 a long ton during the week to $239 a long ton (del. Mill). Despite mills attempting to bring prices down $15-20 a long ton for their August purchases, dealers resisted these bids and hence prices for obsolete scrap have largely remained sideways in the Midwest.
In the Southeast, downside potential was growing as mills maintained an aggressive stance due to weak order books, as well as scrap imports arriving over the summer, as reported by S&P Global Platts.
The weekly average scrap prices of 5052 Alum Clip, Al/Cu Rad with Iron, Alum Breakage 50%, Alum Litho Sheets, Alum Rad with Iron, Alum Radiator, Alum Transformer and Alum Transmission showed almost a flat trend during the week.
The weekly average scrap prices of Alum Turning, Mix Alum Casting, 6061 Alum Extrusion, 6063 Extrusion, Al/Cu Radiator, and Alum Old Sheet traded up during the week, while 356 Auto Wheels showed down trend.