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US Silver Scrap prices gain in line with COMEX Silver

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NEW YORK (Scrap Register): United States silver scrap prices gained on the Scrap Register Price Index as on Wednesday, tracking the uptrend in silver futures prices at New York Mercantile Exchange amid more positive developments in the Sino-U.S. trade talks.

The major silver scrap commodities on the Scrap Register Price Index showed an uptrend on Wednesday. The hallmarked silver scrap prices gained by 0.38 percent to $12.349 an ounce and non-hallmarked silver scrap prices dropped to $10.961 an ounce.

The most active May Silver contract on the COMEX division of the New York Mercantile Exchange has advanced by 2.4 cents to $14.939 an ounce on Wednesday.

U.S. Treasury Secretary Steven Mnuchin said that Washington and Beijing might be “close to the final round” of their trade negotiations. Data showing that China’s exports rebounded in March while new bank loans rose more than expected has helped to boost risk sentiment.

(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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