US Shredded Scrap, US Aluminum Scrap prices remain unchanged

UNITED STATES April 17 2017 6:45 PM
 NEW YORK (Scrap Register): United States shredded scrap prices remained steady during the week ended March 24, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed flat.

The US Midwest Shredded Scrap Index remained flat during the week at $325 a long ton. Scrap export yards on the East Coast, as well as inland domestic yards, lowered their buying prices during the week on the back of lower bulk export sales to Turkey and softening domestic indications, as reported by S&P Global Platts. 

The amount by which buyers have lowered their offers has been in the $10-$20 a long ton range, in turn resulting in expectations for April buy-week to be sideways or slightly down, according to market participants. 

A soft sideways sentiment is also as a result of scrap prices having risen for four out the past five months.

The weekly average prices of major US aluminum scrap commodities like 356 auto wheels, 5052 alum clip, 6061 alum extrusion, 6063 extrusion, al/cu rad with iron, al/cu radiator, alum breakage, alum litho sheets, alum old sheet, alum rad with iron, alum radiator, alum transformer, alum transmission, alum turning and mix alum casting remained steady during the week.