Good Day iScrappers!
We hope that many of you enjoyed eating too much (we know we did!) and had a nice start to the Holiday season. With Turkey and football on the mind we have seen many people starting to put up holiday and Christmas decorations and that means tis the season for many to be scrapping and throwing away lights and other scrap things like computers after Jolly Ole Saint Nick comes in a few weeks.
Click here to read about some tips on scrapping during the holidays, it will jumpstart your next scrapping leg over the next few weeks.
Copper prices have been fluctuating over the last week or so and they looked really great on Black Friday but have taken a turn the last few days, so let’s jump right into the market previews.
Non-Ferrous Metal Market Update
With copper prices hitting close to record 3 year highs again on Friday we were very optimistic that that trend would continue into the last week of November…but alas we were wrong. The market had jumped up since Thanksgiving and since then we have seen the copper prices soften over the first few days of this week.
With oil prices nearing $60 per barrel and many of the news reports from the OPEC meetings in the Middle East pointing towards oil prices stay or rising from current levels we may this market heat up going into 2018. With daily mixed reports on market pricing, we will have to see if the overseas markets cut their production of oil in hopes of having the prices driven up due to so much more competition in the US and other local markets.
Reported Non-Ferrous Prices (11/22 – 11/28):
- Everett, MA: #2 copper tubing, $2.00/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.67/lb.
- Richmond, VA: Aluminum Rims, $0.50/lb.
- Altoona, PA: Car/Truck Batteries, $0.25/lb.
- Tuscaloosa, AL: #1 copper tubing, $2.20/lb.
- Modesto, CA: Dirty Brass Radiators, $0.75/lb.
- Andalusia, AL: #2/3 Mixed Copper, $1.09/lb.
- Lake Village, AK: AL/Copper Cutoffs, $2.00/lb.
- St. Louis, MO: Aluminum Radiators, $0.45/lb.
- Peterborough, Ontario*: Yellow Brass, $2.14/lb.
- Rochester, NY: Old Sheet Aluminum, $0.44/lb.
- Saint-Eustache, Quebec*: Aluminum Siding, $0.35/lb.
Ferrous Market Update
Steel has really strengthened over the last month with the markets really being in a strong position right now. We have seen the overall markets climb about $3 per ton on these weeks reported prices compared to last weeks and the market seems optimistic overall.
We have talked to many people and read articles saying that we may see this market increase over the next two months and not many see too much of a decline or weakening market on the horizon.
Reported Ferrous Prices (11/22 – 11/28):
- Breton, Nova Scotia*: Light Iron, $70.00/ton
- Rochester, NY: Unprepared HMS, $165.00/ton
- Rochester, NY: Tin, $136.00/ton
- Springhill, FL: Cast Iron, $0.07/lb.
- LaPlace, LA: #1 Heavy Melting Steel, $210.00/ton
- Pierrevill, Quebec*: Steel, $0.40/lb.
- Worland, WY: Shreddable Steel, $60/ton
Other Metal Markets
Gold has shot up and is nearing ,300 per ounce and that will help many of the electronic prices. We have seen many metals like platinum and palladium have strong 2017 numbers and these metals are use not only in the auto industry for catalytic converters, but all in the high-temperature industry like aerospace and aviation.
While you may not find some of these high temp alloys like Monel or Hastelloy often, you never know what you may come across in garage cleanouts or what you may find!
Scrappppp ya later!