UNITED STATES December 08 2016 11:33 AM

NEW YORK (Scrap Register): United States shredded scrap prices climbed during the week ended November 11, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index remain steady.

According to TSI, the weekly US Midwest shredded scrap index climbed $6 a long ton during the week to $238 a long ton (del. Mill).

The market is abuzz on the strength of raw material markets globally, with scrap prices rising in most global markets which in turn is following the lead of the Turkish market. 

Beyond scrap, the impact of the recent astronomical rise in metallurgical coking coal prices is beginning to be seen in scrap. China was reported to have purchased bulk scrap cargoes from US West Coast exporters. 

US Midwest market participants cited tight supply and, to a lesser degree, mill demand for scrap as key factors in the rise of the index this week.

The weekly average of major US aluminum scrap commodities like Al/Cu Rad with Iron, Al/Cu Radiator, Alum Litho Sheets and Alum Radiator traded higher during the week.