Good Day iScrappers!
With the markets continuing to push ahead and the stock markets rising what seems like every day we continue to hope that 2018 turns out to stay on this strong path.
With precious metals being such a talk of the town lately, we wanted to go a little into how precious metal prices like gold, platinum, and palladium can play into the stock markets even though you may not be scrapping them often as well…so let’s cut down to the chase and talk scrap.
Non-Ferrous Metal Market Update
With the copper market staying +/- $0.05 over the last week we have seen a relatively stable side of things. While oil has had a few up and down swings, we have seen a relatively stable market overall and there does seem to be much sway in speculations for 2018.
Copper has remained at near 4 year highs for several weeks, and while we expect price swings to happen, they may not happen except for weird market events like strikes in the copper mines or large influxes of scrap into the markets from outside areas that may have been holding onto it for a long time waiting for the markets to go up.
Aluminum has been a metal, along with stainless, that we have not mentioned lately and that is because not much has gone on with either group of materials. Both markets have been relatively flat with a penny or two up/downswing, but nothing crazy to go over that is too earth-shattering.
Reported Non-Ferrous Prices (1/10 – 1/16):
- Clinton, MD: Aluminum Rims, $0.64/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.83/lb.
- Hermiston, OR: Aluminum Siding, $0.35/lb.
- Eu Claire, WI: AL/Copper Cutoffs, $1.11/lb.
- Columbia, MO: Brass, $1.54/lb.
- Austin, TX: Aluminum Copper Coils $1.00/lb.
- Moulton, AL: 300 Series Stainless Steel, $0.22/lb.
- Lebanon, TN: #1 copper tubing, $2.30/lb.
- Madison, WI: Car/Truck Batteries, $0.27/lb.
- Avondale, AZ: #2 copper tubing, $1.65/lb.
- St. Cloud, MN: Laptops, $0.50/lb.
- Spokane, WA: Brass Radiators, $0.50/lb.
- Rochester, NY: Old Sheet Aluminum, $0.41/lb.
Ferrous Metal Market Update
Steel continues to be the talk in 2018 and many people have seen steel prices rising across the US and Canada and the reported prices have shown it. Below you will even start to see some higher grade prepared steel prices creeping in the $200+ per ton range and that is a very uplifting sign. For scrap dealers prepared materials crossing into that mid $200 per ton range means that the market is showing the need for metals and the global markets will be as well.
Don’t forget that these markets have hit almost 2-year highs, and that will only help to fuel the markets going forward. With global demand up, and it seems to be steady via multiple predictions for 2018 we hope to see these below numbers rising as the weeks go on.
Reported Ferrous Prices (1/10 – 1/16):
- Grand Junction, CO: Light Iron, $80.00/ton
- Mitchell, SD: #2 Prepared, $0.07/lb.
- Toledo, OH: #1 Steel, $160.00/ton
- Holland, MI: Sheet Iron, $0.07/lb.
- Mitchell, SD: Unprepared HMS, $0.06/lb.
- Hermiston, OR: Scrap Iron, $0.05/lb.
- Gainesville, FL: Shreddable Steel, $100.00/ton
- San Jose, CA: #1 HMS, $170.00/ton
- Johnston, RI: #1 Prepared, $238.00/ton
- Savage, MN: Light Iron, $150.00/ton
- Milton, WV: Shreddable Steel, $100.00/ton
- Santa Ana, CA: Cast Iron, $0.50/lb.
- Monroe, NC: Tin, $0.05/lb.
Mixed Market Updates
Gold has strengthened as have other precious metal prices like Palladium and Platinum. While these are not metals that you may be scrapping often, they are being used more and more in the electronics industries and because of that, long-term you will start to see certain electronic prices creep up again.
Ask any questions that you can or want to and we will get those answers to you.
Scrap ya later!