US Silver Scrap prices drop sharply; Silver Futures mark lowest settlement since June


NEW YORK (Scrap Register): United States silver scrap prices dropped sharply on Monday, while silver futures prices at New York Mercantile Exchange marked the lowest settlement since June.

The major silver scrap commodities on the Scrap Register Price Index traded lower on Monday. The hallmarked silver scrap prices up by 7.50% to $14.156 an ounce and non-hallmarked silver scrap prices declined to $12.565 an ounce.

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The most active December silver contract on the COMEX division of the New York Mercantile Exchange dropped 2.8% to end at $16.893 an ounce on Monday.

January platinum fell by $9.60 to $933.60 an ounce, while December palladium edged up $13 to $697.70 an ounce. December copper added 1.2 cents to $2.521 a pound. Copper futures rose nearly 11% last week, its largest weekly percentage gain since the week ended October 28, 2011.

(This article is researched and compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)

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