US Scrap Gold prices trade down on strong Dollar

By Vibin Antony
United States scrap gold prices traded down on Wednesday in line with future gold prices mainly on strong dollar.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap declined on Wednesday followed by the yellow metal's down-trend in future market on Tuesday.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $433.772 an ounce and 14ct Gold Scrap hallmarked traded down at $676.684 an ounce on Wednesday.

The prices of 9ct Gold Scrap non-hallmarked dropped to $410.295 an ounce and 14ct Gold Scrap non-hallmarked traded down at $676.684 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange was last traded down $2.30 to $1,198.50 an ounce on Tuesday.

Testimony from Fed Chair Janet Yellen in front of the US Senate had no lasting effect on precious metals prices. The stronger US dollar continues to be a bearish underlying factor working against the precious metals bulls.

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

Turkish HMS 1/2 80:20 scrap avg import prices slip to 311.90 a ton in January

By Vibin Antony
Turkish HMS 1/2 80:20 scrap average import prices (CFR Iskenderun Port, Turkey) slipped by 0.6% week-on-week to $311.90 a ton during January, as per the latest figures released by the Steel Index.

The first few weeks of January proved to be the calm before the storm for imports of ferrous scrap into Turkey, with prices moving down by $8 a ton over the first three weeks of the month. This was a continuation of the relatively quiet market seen since mid-December, with only a handful of car-goes booked over this period as a consequence of mills being well-stocked.

The market then fell deathly quiet towards the end of the month, with no cargoes heard booked for over a week. The prolonged absence of activity hinted at a game of brinkmanship between yards and mills going on behind the scenes, with a large move in pricing likely.

Many participants were understandably reluctant to be the first to break the deadlock and run the risk of potentially over-paying or under-selling relative to the rest of the market. Eventually, one of the larger scrap suppliers decided enough was enough, and sold a cargo at a significantly lower price to that seen previously.

During the last week of January TSI’s daily benchmark index for Turkish imports of HMS #1&2 80:20 reached an all-time low since publication began in 2010, dropping well below $300 a ton CFR Iskenderun port.

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

US Shredded Scrap prices continue to remain flat; Aluminium, Copper show mixed trend

By Vibin Antony
United States shredded scrap prices continued to remain flat week-on-week at $257 a long ton (delivered mill) in the week ended February 20, as per the latest figures from the Steel Index.

Trade has been light as the market took the chance to take stock of the heavy falls in recent weeks. Participants find it hard to see the supply overhang being eroded in March, whilst increased demand is unlikely to take up the slack, leading many to predict further price falls in March, or, at best, stable pricing.

As per Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend last week followed by the yellow metal's down-trend in future market.

However, aluminum, copper, brass, electronic, nickel, steel, zinc and lead scrap prices showed mixed trend last week.

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

India containerized Shredded Scrap import prices drop further; Aluminium, Copper almost flat

By Vibin Antony
The containerized shredded scrap prices for Indian imports dropped further by $3 a ton to $279 a ton CFR Nhava Sheva port last week, as per The Steel Index.

There has been strong buying from mills this week as they sought to restock after largely staying away from the market for the last two months. This increase in activity was seen as a call on the market having bottomed by some, but others feel prices will continue to fall into March.

The Indian domestic market saw a swift uptick in pricing as rumors spread that scrap import duties might be removed in the next budget.

As per Scrap Register Price Index, aluminum, brass, copper, zinc and lead traded almost flat last week, while plastic showed an up trend. Nickel and plastic resin traded down.

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

US Scrap Gold prices may drop this week in line with COMEX Gold

By Vibin Antony
United States scrap gold prices are expected to drop this week in line with spot and future gold prices as the futures market closed the previous week in negative territory.

As per Scrap Register Price Index, the prices for hallmarked scrap gold and non-hallmarked scrap gold reported an increase on Friday.

The prices of 9ct gold scrap hallmarked advanced to $ 439.956 an ounce and 14ct gold scrap hallmarked last traded up at $675.887 an ounce on Scrap Register Price Index on Friday. The prices of 9ct gold scrap non-hallmarked gained to $416.144 an ounce and 14ct gold scrap non-hallmarked closed at $649.184 an ounce.

The last-minute reports of a potential agreement between Greece and its European creditors caused future gold prices to end in negative territory for the fifth consecutive week. Gold prices could see some more pressure in the near-term.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled the week at $ 1,204.90 an ounce, down $ 22.60 or 1.84% on the week.

One risk for the gold market this week week will be the lack of demand from China, which has been an important pillar of support for the gold market. However, there is potential for gold to hold around the $1,200 level.

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

Macungie JV with RRS to host an E-waste Recycling event to keep city clean

By Vibin Antony
Macungie is joint venture with Responsible Recycling Services to host an electronic waste recycling event to keep city clean. Macungie is a borough in Lehigh County, Pennsylvania, in the United States.

Responsible Recycling Services, a Pennsylvania-based recycling company, works with Macungie municipalities and non-profit organizations to provide Recycling Events for residential drop off and small companies.

The used e-waste materials collection will be held at 50 N. Poplar Street, Macungie, PA 18062, located at the Macungie Memorial Park, Macungie Borough.

The e-waste and plastic collection begins from 9a.m. To 12 noon or until trucks are full. The event opens rain or shine and everybody can participate.

Items that can be recycled Free of charge are listed below:
Desktop/Laptop Computers, DVD Players & VCR’s, Keyboards & Mice, Gaming Systems, Printers/Fax Machines/Floor Copiers, Stereos & Speakers, Cables & Cords, Microwaves & Small Appliances, Telephones/Cell Phones, Metal Items, Calculators/Adding Machines, Exercise Equipment, UPS Battery Backups/Laptop Batteries, Car Batteries (sealed lead acid)/Car Routers, Toner & Ink Cartridges, Bed Frames & Rain spouting, Audio Visual Equipment/Plotters, Washers & Dryers Filing Cabinets, Ranges (Stoves), Projectors, Dishwashers

Additional Items that can be recycled with a Fee:
Televisions - $30.00 (Tube Type)
Air Conditioners - $20.00
TVs (in wooden cabinet, Projection-Big Screen) $50.00
Dehumidifiers - $20.00
CRT Monitors - $10.00 (Tube Type)
Refrigerators - $20.00
LCD Monitors / LCD & Plasma TV’s - $5.00
Floor Freezers - $20.00

Destruction Services for a Fee:
Hard Drive Destruction (offsite) - $10 per drive, Includes a Certificate of Destruction
Document Destruction (offsite) - $10 per standard paper size box, Includes a Certificate of Destruction

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

India containerized Shredded Scrap import prices decline by $25 a ton to $282 a ton

By Vibin Antony
The containerized shredded scrap prices for Indian imports declined sharply by $25 a ton to $282 a ton CFR Nhava Sheva port last as local scrap and sponge iron alongside Chinese and Russian semi-finished material continued to put pressure on scrap imports.

According to TSI, finished steel prices continue to fall while demand is yet to pick up. Despite the large price fall this week most market participants expect to see a further drop in March before we reach the bottom and imports begin to flow a little freer.

With the Indian steel ministry having submitted a proposal to the Finance ministry for the reorganization of steel and raw material duties, rumors abound as to whether the 2.5% duty on imported scrap will remain for much longer.

As per Scrap Register Price Index, aluminium and brass traded almost flat on Wednesday, while copper and plastic showed an up trend. Index for tin, plastic resin, nickel, zinc and lead showed down trend.

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

US shredded Scrap prices remain flat last week; US Gold Scrap prices down

By Vibin Antony
United States shredded scrap prices remained flat week-on-week at $257 a long ton (delivered mill) in the week ended February 13, while the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend followed by the yellow metal's down-trend in future market.

United States shredded scrap prices remained flat week-on-week at $257 a long ton (delivered mill) in the week ended February 13, as per the latest figures from the Steel Index.

Small volumes of scrap were heard changing hands at stable pricing to last week as participants paused to survey the aftermath of an explosive couple of weeks in the scrap markets.

Scrap traders would probably welcome a month of stable pricing in March, but with so much material still available and no sign of mill activity picking up to take up the slack, the tone in the market remains bearish looking forward.

US shredded scrap prices are expected to fall further in February as a perfect storm of a strong US dollar, low oil and iron ore prices along with increased finished steel imports.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap showed a bearish trend last week followed by the yellow metal's down-trend in future market.

However, aluminum, copper, brass, electronic, steel, nickel, zinc and lead scrap prices showed mixed trend last week.

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

US Shredded Scrap prices may fall further in February

By Vibin Antony
United States shredded scrap prices are expected to fall further in February as a perfect storm of a strong US dollar, low oil and iron ore prices along with increased finished steel imports.

As per TSI, US participants felt the declines seen in late January were only the tip of the iceberg and this has since been proven correct, with shredded prices falling between $80-100 a long ton in early February.

February scrap purchases had still not been concluded, with some mills reportedly not in the market at all. Participants state not all scrap inventory will be shifted to mills, which could mean further weakness heading into March.

However, Aluminum, brass, copper, steel and stainless steel, zinc, lead and electronic scrap prices were last traded flat as on Scrap Register US Price Index on Thursday, while nickel, hallmarked and non-hallmarked scrap gold traded down.

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

Indian scrap prices may fall in line with global trend in February

By Vibin Antony
It would seem foolish to predict anything but a fall in Indian scrap prices in line with the global trend in February.

The market participants are predicting a downward movement of around $10-15 a ton in the immediate future as the scrap industry cannot continue to play second fiddle to semi-finished material from Russia and China.

According to The Steel Index, If this correction occurs it seems likely that the market will remain depressed with only the Indian budget and its potential increase in duties for semi-finished products, to be unveiled this month, offering a potential catalyst for recovery.

However, the prices for brass, tin and nickel & alloy scrap are showed a down trend as on Scrap Register Price Index on Wednesday, while copper, plastic and plastic resin scrap prices showed mixed trend. Aluminum, lead and zinc are traded flat.

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

US Copper, Aluminium prices remain flat; LME Copper edges up

By Vibin Antony
United States scrap prices for aluminium, brass, copper, zinc and lead remained unchanged, while major commodities at London Metal Exchange declined on Wednesday.

As per Scrap Register Price Index, aluminium, brass, copper, zinc and lead scrap prises remained flat on Wednesday.

LME copper, the only base metal, steadied on Wednesday as some investors bet that a floor had been reached after heavy losses.  The three-month copper on LME settled slightly up at $5,645.500 a ton, paring losses of 1.4% from the previous session when it hit its lowest in a week.

Aluminium, nickel, lead and zinc on the London Metal Exchange traded down on Wednesday, while tin touched a fresh 2-1/2 year low on worries about weak demand.

However, hallmarked and non-hallmarked scrap gold prices posted a decline on Wednesday while electronic scrap prices remained flat.

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

US Copper, Aluminum prices remain flat; LME Copper edges up

By Vibin Antony
United States scrap prices for aluminum, brass, copper, zinc and lead remained unchanged, while major commodities at London Metal Exchange declined on Wednesday.

As per Scrap Register Price Index, aluminum, brass, copper, zinc and lead scrap prices remained flat on Wednesday.

LME copper, the only base metal, steadied on Wednesday as some investors bet that a floor had been reached after heavy losses. The three-month copper on LME settled slightly up at $5,645.500 a ton, paring losses of 1.4% from the previous session when it hit its lowest in a week.

Aluminum, nickel, lead and zinc on the London Metal Exchange traded down on Wednesday, while tin touched a fresh 2-1/2 year low on worries about weak demand.

However, hallmarked and non-hallmarked scrap gold prices posted a decline on Wednesday while electronic scrap prices remained flat.

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

US Scrap Gold prices decline in line with COMEX Gold

By Vibin Antony
United States scrap gold prices dropped further on Wednesday in line with COMEX gold prices, pressured by a firmer dollar index and solidly lower crude oil prices.

According to Scrap Register Price Index, the prices for hallmarked and non-hallmarked gold scrap declined on Wednesday followed by the yellow metal's down-trend in future market on Tuesday.

The most active February gold contract on the COMEX division of the New York Mercantile Exchange was last traded down $10.30 at $1,231.30 an ounce on Tuesday.

Crude oil prices were sharply lower on Tuesday following a recent short-covering bounce. The other key outside market saw the U.S. dollar index higher Tuesday. There are no early technical clues the dollar index has put in a market top and the greenback bulls remain very strong.

US Spot prices are however down nearly 4 percent so far this month as the strong dollar and expectations of an interest rate rise in the United States weighed on investor sentiment.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap hallmarked declined to $449.049 an ounce and 14ct Gold Scrap hallmarked traded down at $700.517 an ounce on Wednesday.

The prices of 9ct Gold Scrap non-hallmarked gained to $424.745 an ounce and 14ct Gold Scrap non-hallmarked traded down at $662.602 an ounce.

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

India containerized Shredded Scrap import prices fall further to $307 a ton

By Vibin Antony
The containerized shredded scrap prices for Indian imports fell further by $13 a ton to $307 a ton CFR Nhava Sheva port in the week ended February 06, as per the latest figures from the Steel Index.

With global scrap prices falling across the board, led by a capitulation in the US market, India was all too happy to follow suit. Trade was once again thin as cheaper local scrap and billets from China and Russia continued to provide a lower cost route to finished steel.

Scant domestic demand in India has been a major driver for the negative market sentiment currently prevalent and it now seems all eyes on the budget presented on the 28th of this month.

On Tuesday, prices of copper and nickel & alloy scrap slightly up , while tin scrap traded down as on Scrap Register Indian Price Index. Plastic scrap prices showed a mixed trend and aluminum, brass, zinc and lead scrap remained flat.

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

US Scrap Gold Prices may trade lower this week in line with Spot, Future prices

By Vibin Antony
United States scrap gold prices are expected to trade lower this week in line with spot and future gold prices as market expectations shift to June rate hike.

The prices for hallmarked scrap gold and non-hallmarked scrap gold reported a decline as on Scrap Register Price Index on Friday.

As per Scrap Register Price Index, the prices of 9ct Gold Scrap non-hallmarked dropped to $ 433.261 an ounce and 14ct Gold Scrap non-hallmarked traded down at $675.887 an ounce on Friday. The prices of 9ct Gold Scrap hallmarked declined to $458.052 an ounce and 14ct Gold Scrap hallmarked traded down at $714.561 an ounce.

On Friday, the Bureau of Labor Statistics said 257,000 jobs were created in January, beating expectations of 236,000 jobs. The data also reported strong revisions for December and November and said that wages increased 0.5% last month.

The news caused COMEX April gold futures to blast below initial support at the 200-day moving average around $1,255 an ounce, eventually hitting a session low of $1,228.20 an ounce.

The most active April gold contract on the COMEX division of the New York Mercantile Exchange settled the week at $1,234.60 an ounce, down $48.40 or 3.77% on the week.

Analysts have explained that gold sold off on the news because it raises expectations that the Federal Reserve will now be in a position to raise rates as early as June.

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

US Spot HRC Steel prices fall 8% over the past 4 weeks

By Vibin AntonyA quieter end to the week in what has been a brutal month for US steel producers, with HR coil spot prices falling over 8% over the past 4 weeks.

As per The Steel Index, the benchmark prices closed on Thursday at $554 a short ton, its lowest level since November 2010, as an oversupply of steel continues to circulate in the marketplace.

Some capacity closures were announced this week though this may only partially reduce the imbalance, with imports and supply chain inventories still of concern.

Little buying activity to note as the week progressed-for now buyers sit tight, well stocked.

The prices of major steel and stainless steel scrap commodities were unchanged on Scrap Register US Price Index as on Thursday.

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

Russian, Chinese attractive offers drive India containerized Shredded Scrap import prices down

By Vibin Antony
The containerized shredded prices for Indian imports fell $5 a ton to $320 a ton CFR Nhava Sheva port in the week ended January 30 as short term sentiment remained negative and billets from Russia and China continued to offer an attractive alternative to imported scrap.

As per TSI, Indian budget is presented on the 28 February and a number of scrap market participants are hoping to see a reallocation of import duties from steel making raw materials to semis/finished steel. If this occurs we may begin to see a few signs of recovery. In the meantime, however, the Indian scrap market looks set to remain depressed.

The prices for major scrap commodities of aluminum, brass, copper, plastic resin are showed an up trend on Scrap Register Indian Price Index as on Wednesday, while zinc, tin and plastic scrap prices posted a decline.

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

US Shredded Scrap prices plummet to $300 a long ton

By Vibin Antony
United States shredded scrap prices plummeted by $43 a long ton to $300 a long ton (delivered mill) in the week ended January 30, as per the latest figures from the Steel Index.

Some sales have been completed the week at significantly lower levels to previous sales, as yards urgently look to place tons. Prompted by the large correction in Turkish prices, US mills are now said to be starting negotiations for February buys at nothing less than down $50 a long ton from January prices.

The market is in a severe state of oversupply – mills who were previously carrying strong scrap inventories have now cut output, whilst domestic finished steel prices have plummeted by some $40-50 a ton in the last few weeks.

The scrap prices for brass, copper and nickel & alloy are showed an up trend on Scrap Register Price Index as on Wednesday, while hallmarked and non-hallmarked gold scrap prices posted a decline. Aluminium and electronic scrap prices remained flat.

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