UNITED STATES October 28 2016 12:02 PM
NEW YORK (Scrap Register): United States shredded scrap prices stayed stable during the week ended September 02, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index showed a flat trend.
According to TSI, US Midwest shredded scrap index remained flat during the week at $236 a long ton (del. Mill). The market is expecting a $15-$20 a long ton drop in prime scrap and a $5-$10 a long ton drop in shredded scrap prices for September buy-week.
Participants are, however, attempting to assess what impact the recent cancellation by US mills of most August contracts for undelivered material will have on buy-week.
Market sources therefore expect mills to approach September with a sense of caution, as reported by S&P Global Platts.
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.