02 FEBRUARY 2016Shanghai Metal Market
US shredded scrap prices stay flat; aluminium scrap prices show down trend
Edited by : AL CIRCLE
1 min read
United States shredded scrap prices stayed flat during the week ended January 22, while major US aluminium scrap commodities weekly average prices on Scrap Register Price Index showed negative trend. According to TSI, US Midwest weekly shredded index remained flat during the week at $189 a long ton (delivered mill).
Utilization rates at mills have continued to increase, and are now running near 70%, a positive sign for the sector. Mills are, however, still reluctant to buy new supplies, even with plenty of offers going around, due to inventories having been restocked in January.
According to participants, inventories will begin to become quite low next week and hence buying will increase again, with supplies expected to be sucked in from the east coast.
The weekly average scrap prices of Aluminium/Copper Radiator with Iron, Aluminium/Copper Radiator, Aluminium Breakage, Aluminium Litho Sheets, Aluminium Old Sheet, Aluminium Transformer and Mix Aluminium Casting declined during the week.
Utilization rates at mills have continued to increase, and are now running near 70%, a positive sign for the sector. Mills are, however, still reluctant to buy new supplies, even with plenty of offers going around, due to inventories having been restocked in January.
According to participants, inventories will begin to become quite low next week and hence buying will increase again, with supplies expected to be sucked in from the east coast.
The weekly average scrap prices of Aluminium/Copper Radiator with Iron, Aluminium/Copper Radiator, Aluminium Breakage, Aluminium Litho Sheets, Aluminium Old Sheet, Aluminium Transformer and Mix Aluminium Casting declined during the week.
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