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)
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)
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