UNITED STATES December 28 2016 2:07 PM
NEW YORK (Scrap Register): United States shredded scrap prices shot up during the week ended December 02, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index remained flat.
According to TSI, the weekly US Midwest shredded scrap index jumped to $286 a long ton during the week on the back of the December mill buys. The market is subject to some regional differences but overall up $50 a long ton.
The increase in pricing over the recent months is bringing dormant scrap to the market as those who took positions and held are looking for a home for their scrap. Some buys were above the normal range signaling a potential for further upside in early 2017.
The weekly average prices of major US aluminum scrap commodities like Al/Cu Rad with Iron, Al/Cu Radiator, Alum Litho Sheets and Alum Radiator showed a flat trend during the week.