Hope you are starting to adjust to these crazy steel prices. We have been looking at some of the prices that have been posted online across the US and Canada and it seems that many people are just getting between .5 (half) – 1.5 cents per lb. for light iron, so please don’t be surprised.
Many have asked why the prices are so low…and when the prices will start to rise. Two great questions so we wanted to dive into it a little bit.
- Prices are so low for many reasons, one of the largest being the low demand in China and many other overseas markets. Many predicted that the prices would fall….but the levels that they are at have not been seen since 2008. We believe that there is still a little room for the prices to fall more so do not be surprised.
- When will the prices rise seems to be the question that we are all looking for. Copper prices are at stable levels but we have read articles that many Wall Street and commodity traders are using copper as a stock more-or-less. That is causing some of the larger swings that you have been seeing as well.
Copper Remaining Strong
Copper has maintained strong levels over the last week and we are happy to see that the prices have not declined since we last went over them last week. We have seen a lot of people posting prices for the metals that they have received and working with a lot of yards in their areas that they didn’t know about otherwise.
Gold Rising For The First Time This Month
We have seen gold rise for the first time in 2-3 weeks and while that is encouraging…that also means that investors are putting their money into gold because they have uncertainty about many other metals….so while some electronic prices may rise, do not expect to see a dramatic jump.
Other Non-Ferrous Is Stable
Aluminum and stainless steel products have been relatively stable, maybe a small 1-2 penny drop on items but that is about it.
Hope this helps iScrappers, remember to keep reporting the scrap prices that you are receiving.
Scrap ya later!
Prices as of 10/14/15
- Bare Bright Copper: $1.81-$2.06
- Copper Pipe: $1.54-$1.84
- Clean Brass: $1.04-$1.14
- Insulated Copper: $0.55-$1.43
- Aluminum Sheet: $0.30-$0.33
- Stainless Steel: $0.24-$0.29
- Aluminum Cans: $0.25-$0.35 (Not CRV Pricing)
- Light Iron: $25-$40 per ton