NEW YORK (Scrap Register): United States shredded scrap prices edged up during the week ended August 19, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index stayed stable.
According to TSI, US Midwest shredded scrap index ticked up $1 a long ton to finish the week at $237 a long ton (del. Mill).
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US steel production decreased during the most recent week and mills are either already involved in maintenance outages or are planning them in the near term.
This reduction in capacity utilisation will likely to put producers into a fairly strong negotiating position for the upcoming September settlements.
A true early indicator will be cancellations of undelivered August volume, which, if happening, may begin next week.
Talk of reduced flow for shredded scrap in July came and went, but a louder drumbeat for flow reduction can be expected this month.
The weekly average scrap prices of 5052 Alum Clip, Al/Cu Rad with Iron, Alum Breakage 50%, Alum Litho Sheets, Alum Rad with Iron, Alum Radiator, Alum Transformer, Alum Transmission, Alum Turning, Mix Alum Casting, 6061 Alum Extrusion, 6063 Extrusion, Al/Cu Radiator, and Alum Old Sheet, 356 Auto Wheels showed a steday trend during the week.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to email@example.com)