UNITED STATES November 22 2016 6:13 PM
NEW YORK (Scrap Register): United States shredded scrap prices fell during the week ended October 07, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed stable.
The US market’s October scrap settlements began slowly during the week with market participants encountering the beginning of a move in the Turkish scrap market, declining finished steel prices and reduced flow of ferrous scrap into the yards with low scale prices.
Market watchers waiting for first movers are expecting a decline in shredded of $20 a long ton or more and prime scrap expected to be down approximately $30 a long ton depending upon the region.
The weekly US shredded scrap index fell by $4 a long ton to $215 a long ton during the week with expectations of a further decline into next week as the market wraps up negotiations for October.
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 flat during the week.