NEW YORK Prices
for high-grade twitch, or shredded nonferrous automotive scrap,
could be set to edge lower as several major consumers appear to
be "backing away from buying" and are "paring down on
inventory," sellers said.
Most sources pegged
the price for high-grade twitch at around 78 to 80 cents per
pound, down a penny on the low end from the end of
As the year comes to a
close, consumers are trying to avoid buying too much material,
one seller source told AMM.
"I think whats
happening is its coming to the end of the year and people
dont want a lot of inventory on the books," he said. "I
have talked to a couple of consumers who have been backing away
from buying and will continue to do so going into
The tepid buying
activity will likely lift supply, sellers said, adding that the
recent government shutdown had caused consumers to adopt a more
"We are hearing that
things are more plentiful as of recent," a second seller said.
"I think there could be some pressure on the down side just
because there is a lot of material out there at the
One major consumer has
exited the market completely for November, according to a third
"One of the consumers we do business with is out of the
market for November, which means they will not be buying for
December. I think people have plenty of material and there is
some fear that the market is going to come down."