10/19/16 Scrap Price Update: Copper Prices See Drop This Week

Good Day Scrappers!

We hope that you have been staying tuned to all of the reported prices that we have seen being reported across the US and Canada over the last week. We have seen so many prices being posted over the last week that we are happy to really make headway into the national prices….but let’s dive right in the scrap prices.

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Non-Ferrous Markets for Scrap

Copper has become weakened over the last week with the pricing dropping 7-8 cents per pound…but even though we hate to see a drop like that, the more crucial part is the demand. We have seen not only the prices drop, but the overall demand drop from the mills and the exporting markets. What does this mean? Well, that means that the spreads are becoming bigger thus adding to the scrap prices dropping even more then the normal drop in copper pricing over the last week…and that is a concern.


With such weakening scrap prices we have really seen the market as a whole become much weaker and many people are continuing to point to the election as one of the largest factors….but we will talk about that a little more during the ferrous spotlight.

Here are some of the non-ferrous prices reported over the last week:

  • Omaha, NE: #1 Flashing, $1.86 per lb. (10/19/16)
  • South Boston, VA: #1 Copper Tubing, $1.83 per lb (10/18/16)
  • Buffalo, NY: #1 Tubing, $1.84 per lb (10/18/19)
  • Oklahoma City, OK: Aluminum Cans, $0.50 per lb (10/18/16)
  • Connersville, IN: Bare Bright, $1.68 per lb (10/18/16)
  • Memphis, TN: Brass, $1.02 per lb. (10/17/16)
  • Hanover, PA: Stainless Steel, $0.28 per lb (10/16/16)
  • Rochester, NY: Sheet Aluminum: $0.41 per lb (10/15/16)
  • Long Beach, CA: #1 Tubing, $1.50 per lb (10/14/16)

Ferrous Scrap Market Update

Wow…where have the steel prices gone. Long are the days of light iron and steel prices being in the $200-300 per ton range…not to mention better items like brakes and rotors being even more money. The mills across the US and Canada have largely halted a lot of the material that is coming in to their yards and have been able to be more choosey on material that they want delivered…so what does that mean for you the scrapper? Well, that means that if scrap yards are not sending out material at a near perfect (if not perfect) specs for the steel mills that their loads will be rejected.


Take that scenario and pair it with the ongoing election, the lack of large building across the world, and a long demand and you have an equation for the steel prices being so depressed. With that being said…we prefer to be optimists and having these prices will Lead to much more scrap to be found and you will be able to cash in more frequently.

Here are some of the ferrous prices reported over the last week:

  • Aiken, SC: Light Iron, $0.03 per lb (10/18/16)
  • Salaberry-de-Valleyfield, Quebec: #1 Steel, $50 per ton (10/18/16)
  • Bardstown, KY: Complete Cars, $120 per ton (10/18/16)
  • Denver, CO: #1 Steel, $35 per ton (10/16/16)
  • Fresno, CA: #1 Steel, $45 per ton (10/16/16)
  • Fontana, CA: #1 Steel, $80 per ton (10/16/16)

We hope that you have enjoyed this weeks update, don’t forget to report your prices as well as to send us questions to [email protected].

Scrap ya later!

-Tom


National Average Prices For Scrap Metal (as of 10/9/16)

  • 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: $45-80 per ton

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