10/12/16 Scrap Price Update: Why Steel Prices Are So Low

Hey there iScrappers!

We hope that all is well, you are busy, and you are staying safe for all of those hit by Hurricane Matthew. With weather being such a factor in scrapping, it is not always easy to see how things will be panning out, and because of that we have to wait and see what different weather brings because those things will affect the scrap market.


Non-Ferrous Markets

In the last week we have not seen too much of any sort of movement across the metals front over the last week with most prices staying the same. Copper has stayed up after its small jump last week (which is great to see), and aluminum has maybe gone up a penny or two.
Here are some reported non-ferrous prices over the last week:

  • Lowell, IN: #1 Tubing, $1.65 per lb. (10/12/16)
  • Salem, MA: Bare Bright Copper, $1.85 per lb. (10/12/16)
  • Salem, MA: Brass Scrap, $1.15 per lb. (10/12/16)
  • Hastings, MI: Aluminum Cans, $0.28 per lb (10/11/16)
  • Dothan, AL: Stainless Steel, $0.28 per lb (10/11/16)
  • Dothan, AL: Bare Bright, $1.81 per lb (10/11/16)
  • Henderson, CO: Aluminum Cans, $0.44 per lb (10/10/16)
  • Kansas City, KS: Aluminum Cans, $0.41 per lb (10/10/16)


Ferrous Markets

steel-prices-in-september-2016

Wow…how the mighty have fallen. Steel has been a major downfall this year with the prices going back to the levels that we saw earlier in January/February. The markets have taken such a fall on the higher grades of steel that we have seen grades like cast iron, #1 Steel, and Unprepared Heavy Steel prices dip to the same levels as light irons. With little to no hope for a revival in the steel prices this year, most economists are showing a slow growth in 2017 as well.

Here are some reported ferrous prices over the last week:

  • Lowell, IN: #1 Steel, $70 per ton (10/12/16)
  • Hastings, MI: #1 Steel, $90 per ton (10/11/16)
  • Minor, ND: #1 Steel, $50 per ton (10/11/16)
  • Rochester, NY: Light Iron, $100 per ton. (10/11/16)
  • Henderson, CO: #1 Steel, $35 per ton (10/11/16)
  • Kansas City, KS: #1 Steel, $50 (10/11/16)

We hope that you are able to get a lot of scrapping in…and getting some good finds along the way. Don’t forget to email us any pictures of cool scrap finds to: [email protected]

Scrap ya later!

-Tom

National Scrap Price Averages (as of 10/12/16):

  • Bare Bright Copper: $1.65-$1.83
  • Copper Pipe: $1.47-$1.72
  • Clean Brass: $0.80-$1.10
  • Insulated Copper: $0.45-$1.10
  • Aluminum Sheet: $0.24-$0.34
  • Stainless Steel: $0.21-$0.27
  • Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
  • Light Iron: $55-85 per ton

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