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US Silver Scrap prices advance tracking the up trend in COMEX Silver

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NEW YORK (Scrap Register): United States silver scrap prices advanced on the Scrap Register Price Index as on Wednesday, tracking the up trend in silver futures prices at New York Mercantile Exchange as the U.S. dollar weakened against a basket of major currencies after hopes grew of concessions by Canada that would resolve disputes over reworking the North American Free Trade Agreement.

The major silver scrap commodities on the Scrap Register Price Index advanced on Wednesday. The hallmarked silver scrap prices up by 0.22 percent to $11.653 an ounce and non-hallmarked silver scrap prices climbed to $10.344 an ounce.

The most active September Silver contract on the COMEX division of the New York Mercantile Exchange has climbed by 1 percent to $14.293 an ounce on Wednesday.

Prices for silver settled Tuesday at $14.052, the lowest since January 2016. The silver investor has been unmotivated until the recent larger price drop, which is stimulating the current upswing.

(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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