US Shredded Scrap prices remain stable; Aluminum Scrap prices show mixed trend
NEW YORK (Scrap Register): United States shredded scrap prices remained stable during the week ended August 26, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index showed mixed trend.
According to TSI, US Midwest shredded scrap index remained flat during the week at $236 a long ton (del. Mill). With bulk scrap export prices firming off the East Coast, attention has again turned to September buy-week.
Two bulk cargoes were sold into Turkey at $227 a long ton CFR Turkey, HMS 80:20 basis, which indicates that September will be a sideways market, according to a market participant.
A Midwest supplier, as reported by S&P Global Platts, also commented that the renewed interest from Turkey will result in more scrap material moving to the East Coast, which is a positive for the domestic Midwest region.
The weekly average scrap prices of 356 Auto Wheels, 5052 Alum Clip, 6061 Alum Extrusion, 6063 Extrusion, Alum Breakage 50%, Alum Rad with Iron, Alum Radiator, Alum Transformer, Alum Transmission, Alum Turning showed a flat trend during the week.
Al/Cu Rad with Iron, Al/Cu Radiator, Alum Old Sheet and Mix Alum Casting traded slightly lower during the week while Alum Litho Sheets showed an up trend.
(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to firstname.lastname@example.org)