Used beverage can (UBC) scrap prices continued their rise from yesterday on a higher cash settlement on the London Metal Exchange (LME).
Argus' daily UBC scrap assessment rose to 107-109¢/lb from 105.5-108¢/lb on Tuesday. This represented a spread of approximately 77-78.5pc of Argus' internal Midwest transaction price.
The cash LME settlement ended today's trading session at 119.07¢/lb, up from 118.34¢/lb. This ended the eight-trading day streak of moves greater than 1pc.
The weekly P1020 differential to the Midwest transaction price moved up to 19.25-19.75¢/lb. 6061/6063 billet premiums remained at 8-10¢/lb, where they have been assessed since 11 September.
