We hope that markets have been treating you well, that you have been able to see an increase in your scrap as we’ve seen an increase in the overall market demand right now. Overall we have seen a very nice jump almost through the first few months of 2018.
With many people asking us where we think the market will be going and when we think it will be happening throughout the year, it’s difficult to get a good idea on where the market is and that’s been what has been driving us this year to learn more about market trends.
There are so many factors going into the market, for example oil prices and import regulations, constantly changing. We have started to look at lots of different criteria moving and nurturing the entire market as a whole.
Non-Ferrous Scrap Price Update
With copper prices falling slightly over the last few days we have seen a bit of a pullback in the market. Overall we still see a very strong market and while we are down from the near for your highs, we are still very happy with where the market is and where it seems to be headed.
We have been paying attention to all the different copper increases as well as the overseas import market along with the new rules and regulations that many countries like China are implementing their trade policies.
We have seen many reported prices increasing by 1 to 2% over the last two weeks, and that’s a positive sign meaning that scrap yards or getting comfortable with this market and will be able to push forward more and higher prices to their customers.
Reported Non-Ferrous Prices (1/17 – 1/23):
- Laurel, MS: Tin, $0.80/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.75/lb.
- Albany, GA: #3 Aluminum, $0.56/lb.
- Pinellas Park, FL: #1 Bare Bright Copper Wire, $2.30/lb.
- Vancouver, WA: Aluminum Siding, $20.00/ton
- Kingman, AZ: Brass Radiators, $1.00/lb.
- Rochester, NY: Old Sheet Aluminum, $0.45/lb.
- North East, PA: Electric Motors, $0.15/lb.
- Opelika, AL: Insulated Copper Wire, $0.50lb.
- Everett, MA: Brass, $1.70/lb.
- South Amboy, NJ: THHN Wire, $1.25/lb.
- Eastman, GA: Aluminum Scrap, $0.25/lb.
Ferrous Metal Markets
The steel market has been a very bright spot in the 2018 calendar year. With prices overall been up about $20 per ton, even with the recent pullback this week we still have seen a very strong steel market. We have spoken to multiple people who take out large contracts on steel and they see a very positive 2018, and while they see many market fluctuations that may take place. They still are very, very optimistic that overall we will continue to see a great 2018, one that may rival recent years in the past.
Reported Ferrous Prices (1/17 – 1/23):
- Eastman, GA: #1 Heavy Melting Steel, $0.06/lb.
- Montgomery, AL: Shreddable Steel, $120.00/ton
- Commerce City, CO: Light Iron, $105.00/ton
- North East, PA: Sheet Iron, $220.00/ton
- Rochester, NY: #1 HMS, $240.00/ton
- Plainville, CT: Light Iron, $100.00/ton
- Opelika, AL: Shreddable Steel, $0.06/lb.
- South Amboy: Cast Iron, $0.06/lb.
Other Scrap Markets
In other news, some of the hot metals like platinum, gold, and other precious metals have been one of the big talking points inside of the entire commodities industry lately. With many of these metals being used more and more in high-end jewelry, high-end electronics, as well as normal day to day technology, we have seen a very nice increase in hope that trend continues going into 2018 as well.
Please share any of your thoughts, ideas, and especially your questions on the scrap metal market so we can give you a much better idea overall on where we think the markets going and how we can help you learn more about what’s going on in the scrap market. Until next week, scrap you later.