Good Day iScrappers and Happy New Years!
With the markets almost back in full swing, we will continue to monitor what the prices will do in 2018 and hope that it mimics what we saw back in 2017. With the oil markets continuing to push on, and such positive news coming in the metals markets we have to hope to continue to see the positive changes and price increase coming in.
One thing that we are continuing to watch and monitor is how the world is reacting to North Korea and to the threats that they have continued to make. We talked in the recent weeks about how the markets should continue to react positively in 2018, but the only thing that could stunt or stop the growth would be radical things taking place…but let’s keep our fingers crossed that 2018 becomes better than last year.
Non-Ferrous Market Reports
Copper has weakened slightly after hitting 3-year highs, but overall we have started to see the prices increasing throughout the US as of recent weeks. We have gone over this before, but not all scrap yards will immediately increase prices just because the markets go up…and a good explanation or there is a different example.
Imagine the orange growers of the world have been growing oranges left and right for the last 3 months, and all of the oranges that they have grown have been made into orange juice and is on the shelves at the local supermarket and then a deadly frost hits half of the orange trees and wipes them out. The juice that is already on the shelves should not go up in price because it was made at lower costs, but the future juice will be priced much higher due to supply and demand…that is kind of how copper works.
With a lot of the markets going up, that does not mean that all scrap buyers can immediately increase their prices because they may not have the sales contracts to do so. Some may have to wait a little while to get new numbers in and then increase their copper or non-ferrous prices.
Reported Non-Ferrous Prices (12/27 – 1/2):
- Fort Wayne, IN: Yellow Brass, $1.64/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.80/lb.
- York, PA: Low Grade Boards, $0.08/lb.
- Farmington, MO: Aluminum, $0.50/lb.
- Sacramento, CA: AL/Copper Cutoffs, $1.25/lb.
- LaPlace, LA: #2 copper tubing, $2.30/lb.
- Thousand Palms, CA: #3 Aluminum, $0.36/lb.
- Lakeland, FL: Insulated Copper Wire, $1.80/lb.
- Las Vegas, NV: #1 copper tubing, $2.00/lb.
- Rochester, NY: Stainless Steel, $0.39/lb.
- Ypsilanti, MI: Romex Wire, $1.20/lb.
- Kansas City, MO: Aluminum Rims, $0.52/lb.
- Chesapeake, VA: Electric Motors, $0.12/lb.
Ferrous Market Reports
Steel has continued to shine with pricing rising about $7 per ton for all grades of scrap steel over the last week. With the reported prices that we have seen being reported every day, we are very happy to see how the market has increased and reacted going right into January.
With so many positive vibes happening with the markets and with the optimism for 2018 we can only hope that this will be a trend that we continue to build upon going forward.
Reported Ferrous Prices (12/27 – 1/2):
- York, PA: Light Iron, $0.06/lb.
- Kansas City, MO: #2 Prepared, $0.07/lb.
- Chandler, AZ: Shreddable Steel, $70.00/ton
- Chesapeake, VA: Scrap Iron, $0.04/lb.
- Spring, TX: Light Iron, $100.00/ton
- Carson, CA: #1 Heavy Metal Steel, $160.00/ton
Overall Markets Summary
With the overall markets being very high still we have seen most people react in a very positive way. We have seen gold prices jump over $1300 per ounce and hopefully, we will continue to see all markets react in the same positive manner.
Scrappp ya later!