UNITED STATES January 25 2017 6:05 PM
NEW YORK (Scrap Register): United States shredded scrap prices stayed steady during the week ended January 06, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index continued to show a flat trend.
The TSI US Shredded Scrap Index remains flat this week at $286 a long ton. Market participants are expecting the January scrap settlements to increase by $30-40 a long ton above December settlements, but at the moment are taking a “wait-and-see” approach before finalizing deals.
One Midwest supplier reported that mills were looking to secure prime scrap, which is currently in short supply due to high demand in Canada and a seasonal slowdown in industrial activity, at a $50 a long ton premium to December.
Interestingly a potential threat has arisen of dockside scrap moving inland from the East Coast, which in turn would weigh down the bullish market.
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.