US Silver Scrap prices fell; Silver Futures up 2.6 percent for the week

NEW YORK (Scrap Register): United States silver scrap prices fell on Friday, while silver futures prices at New York Mercantile Exchange settled higher mainly due to a rising Chinese demand. 
The major silver scrap commodities on the Scrap Register Price Index down by 0.534% on Friday. The hallmarked silver scrap prices dropped to $14.506 an ounce and non-hallmarked silver scrap prices fell to $12.876 an ounce.
The most active March silver contract on the COMEX division of the New York Mercantile Exchange rose 19.2 cents to $17.705 an ounce on Friday, for a weekly rise of 2.6%.
After showing U.S. consumer sentiment at a thirteen-year high in the previous month, the University of Michigan released a report showing that consumer sentiment has pulled back by more than expected in February.
The preliminary report showed that the consumer sentiment index dropped to 95.7 in February from the final January reading of 98.5. The bigger than expected decrease by the index came after it reached its highest level since January of 2004 in the previous month.