UNITED STATES November 08 2016 6:35 PM
NEW YORK (Scrap Register): United States shredded scrap prices remained flat during the week ended September 23, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed stable.
US Midwest shredded scrap index remained flat during the week at $220 a long ton (del. Mill). Scrap exporters on the west coast are expecting a near term decline in availability of containers for shipping scrap to Asia as a result of a recent bankruptcy.
Scrap processors are therefore concerned that further erosion in ferrous scrap pricing may lead to significant flow reduction. Demand for the end use market has also been tepid, resulting in declining mill utilization rates as well as declining scrap use.
Mills are, however, continuing to pursue trade cases for finished steel that could bolster demand for domestic products, thus leading to an uptick in scrap usage.
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 remained steady during the week.