With the market being a little flat during the last week we have seen a lot of positive changes coming in the recent days. We have seen copper prices rebound and have become stronger than they were last week.
Steel prices have leveled out after the price drop that we saw, and we are hoping that over the next two months that we’ll see a price increase possibly more than $30-$40 per ton based off of several reports that we have read. With the oil prices remaining relatively high, even with the US market producing more oil than ever and even exporting it to other countries, we still have seen hire commodity prices and transportation costs.
After listening to President Trump’s State of the Union last night, we have seen a big push for what we have spoken about over the last year and a half, and that is a possible rebuild to the infrastructure throughout the US. With the possibility of the infrastructure really growing and having roads, bridges, airports, and other public buildings starting to get worked on. We may start to see a large increase in the demand for metals domestically in the US.
Non-Ferrous Scrap Market
With copper prices slightly up over the last week, we are optimistic that these markets will stabilize and continue to grow going into the second and third months of 2018. After having the first month of the year be one of the stronger opening January’s that we have seen in the last decade, commodity prices have not only grown and stabilize, but the optimism has grown in the market throughout all of 2018.
With aluminum prices and other nonferrous prices like stainless steel increasing slightly over the last week, we have seen many people reporting much higher prices over that time span. We encourage you to continue to report your prices this way we can keep seeing where the market is going throughout the US that will help the team at the iScrap App continue to add more information and develop our tools so you can find out more about pricing as well.
Reported Non-Ferrous Prices (1/24 – 1/30):
- Evansville, IN: Brass Heater Cores, $0.60/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.75/lb.
- Tucson, AZ: Insulated Aluminum Wire, $0.25/lb.
- Glenwood, MN: 304 Stainless Steel, $0.33/lb.
- Edwardsville, PA: #2 Copper Tubing, $2.00/lb.
- Evansville, IN: Heliax Wire, $0.50/lb.
- Fayetteville, AK: Aluminum Scrap, $0.05/lb.
- Holbrook, NY: #1 Copper Tubing, $2.40/lb.
- Philadelphia, PA: Steel BX, $0.07/lb.
- San Antonio, TX: Brass Shells, $1.00/lb.
- Stittsville, Ontario*: Stainless Steel, $0.30/lb.
- Hollywood, FL: Aluminum Rims, $0.35/lb.
- Dallas, TX: #2/3 Mix Copper, $2.14/lb.
Ferrous Market Update
With steel prices declining over the last few weeks, this week we have seen stabilization in the market. We are happy to see the market stabilizing and we have seen prices remain very strong compared to this time one year ago. With light iron prices being over $50-$60 on average for the last year, we hope to see this trend continue into the rest of 2018.
There are a lot of determining factors that will impact not only the steel prices but all market prices as a whole. We hope to continue to see the stock market climb and more importantly, we hope to see the continued growth and build out of the industrial sector in the US and Canada. All of those factors will lead to steel continuing to be at a high demand, which will make sure that these prices are here for all of 2018 and hopefully beyond.
Reported Ferrous Prices (1/24 – 1/30):
- Ashville, NC: Light Iron, $135.00/ton
- Alvin, TX: Scrap Iron, $0.05/lb.
- Harrisburg, NC: Shreddable Steel, $105.00/ton
- Abilene, TX: #1 Heavy Melting Steel, $225.00/ton
- Goshen, OH: Sheet Iron, $0.07/lb.
- Rochester, NY: Cast Iron, $260.00/ton
- Rosenburg, OR: Light Iron, $70.00/ton
- Clare, MI: Shreddable Steel, $0.06/lb.
Other Scrap Markets
With gold continuing to climb over $1,300/oz., we continue to see gold, platinum, and other metals rising which will lead to higher scrap market for these metals. We continue to sound like a bit of a repeating record with the electronics market, but we really are in a wait-and-see approach to see what happens with many of the export markets for the electronics industry.
We hope to see these prices continue to remain strong, and with that, we ask you to send us any questions that you have so we can try to answer all of them and help you learn more about what’s going on in the entire metals in the street. Thank you and talk to you next week.
Scrapppp You Later!