UNITED STATES May 17 2016 7:03 PM
NEW YORK (Scrap Register): United States silver scrap prices rose on Monday, while silver futures prices at New York Mercantile Exchange settled slightly higher ahead of the release of key consumer price data in the U.S., as downbeat manufacturing and soft producer prices in Japan lowered sentiments on an impending rebound in the global economy.
The major silver scrap commodities on the Scrap Register Price Index traded up on Monday. The hallmarked silver scrap prices advanced to $14.259 an ounce and non-hallmarked silver scrap prices up to $12.657 an ounce.
The most active May silver contract on the COMEX division of the New York Mercantile Exchange settled up by 2.2 cents to $17.154 an ounce on Monday.
Silver leapfrogged gold in mid-April as the best-performing precious metal as data signaled a resilient U.S. expansion and a stabilizing Chinese economy.