US Shredded Scrap, Aluminum Scrap prices continue to remain steady
NEW YORK (Scrap Register): United States shredded scrap average weekly prices continued to remain steady during the week ended July 07, while major US aluminum scrap commodities weekly average prices on Scrap Register Price Index also showed a flat trend.
According to TSI, US Shredded Midwest Scrap Index remained flat during the week as suppliers and mills begin to posture at the outset of the July buy period.
Mills are attempting to make the case that in comparison to other grades shred is oversupplied.
Suppliers are viewing the recent strength in the export market along with limited railcar availability as a positive signs. S&P Global Platts quoted a mill buyer of the run up in Turkish exports as saying it “Looks like the sleeping giant has awakened."
The weekly average prices of major US aluminum scrap commodities like 356 auto wheels, 5052 alum clip, 6061 alum extrusion, 6063 extrusion, al/cu rad with iron, al/cu radiator, alum breakage, alum litho sheets, alum old sheet, alum rad with iron, alum radiator, alum transformer, alum transmission, alum turning and mix alum casting on the Scrap Register Prices Index showed a steady trend during the week.