US Silver Scrap prices remain flat; Silver Futures fall by nearly 2.5 percent

UNITED STATES May 02 2017 6:58 PM

NEW YORK (Scrap Register): United States silver scrap prices remained flat on Monday, while silver futures prices at New York Mercantile Exchange fell by nearly 2.5 percent as pressure seen after U.S. congressional leaders reached an agreement to fund the government through the fall.

The major silver scrap commodities on the Scrap Register Price Index stayed steady on Monday. The hallmarked silver scrap prices unchanged at $14.33 an ounce and non-hallmarked silver scrap prices remained flat at $12.77 an ounce.

The most active July silver contract on the COMEX division of the New York Mercantile Exchange declined by 42 cents to $16.842 an ounce on Monday, the lowest since mid-January.

U.S. factory activity slowed in April while consumer spending was unchanged in March and a key inflation measure recorded its first monthly drop since 2001, but still expect an interest rate increase in June as the labor market tightens.