UNITED STATES November 29 2016 6:36 PM
NEW YORK (Scrap Register): United States shredded scrap prices remained flat during the week ended October 21, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed stable.
The US Midwest shredded scrap index remained flat during the week at $201 a long ton (del. Mill). Since the conclusion of the October scrap buy week, bulk export prices from the US East Coast have steadily risen, which has supported suppliers’ beliefs that the export market reached a bottom in October.
In the Midwest, however, mills have reduced their scrap-buying in the second half of the month due to depressed finished steel demand.
Some brokers do, however, believe that the Midwest market has also reached a bottom and that November prices will be up, 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 continued to stay stable during the week.