UNITED STATES November 28 2016 5:25 PM
NEW YORK (Scrap Register): United States shredded scrap prices dropped during the week ended October 14, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index remained flat.
According to TSI, US Midwest shredded scrap index completed its October settlements at $201 a long ton, down $14 a long ton from last week.
The US market saw a $30 a long ton steel price decline in prime scrap, followed closely by a decline in obsolete grades of $21 a long ton from early September levels.
Mills have continued to experience tepid enduser demand, resulting in reduced scrap demand and lower mill utilisation rates.
The export market has however begun to show signs of life as Turkish Scrap index rose throughout the week, signaling a return to the market place by Turkish mills.
This should have the impact of reducing further domestic price declines for November settlements with early prognosticators predicting a sideways market.
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 stable during the week.