UNITED STATES November 15 2016 12:23 PM
NEW YORK (Scrap Register): United States shredded scrap prices edged up during the week ended September 30, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index continued to remain flat.
According to TSI, US Midwest shredded scrap index slipped a dollar during the week to $219 a long ton (del. Mill). Market participants appear to be anticipating another price reduction in the upcoming settlements for October.
Low finished-steel demand from end-user markets has sapped steel mill demand for scrap just as we approach the winter season’s raw material inventory rationalization.
The US dollar’s strength along with relative pricing parity between the US Midwest Shredded scrap index and the Turkish HMS #1&2 80:20 scrap index is keeping material on the coast and further compounding the issue.
On the scrap processor side of the coin, further reductions in pricing will muddle the already complicated picture of flow into yards.
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 continued to stay steady during the week.