We hope that you have been enjoying these high prices, cashing in on the market uptick and are crossing your fingers for a higher rate in the ferrous markets as well.
This week we are going to go over one of the new futures of the scrap industry and also going to go over how the markets have been reacting overall to a lot of the positive news that has been happening. One thing that we always want to keep in mind is that nothing lasts forever, and this great streak in the markets is hinging on a lot of outside influences and we will have to stay tuned moving forward on how things will react.
Non-Ferrous Market Updates
With oil prices almost at $60 per barrel, we have begun to see the prices of gas climbing over the last few months. With that happening the price of metals has gone up and that has been a great thing to see…but many people have been able to talk a big game about the future markets and where they may be going, we still have MANY questions.
With the copper export market becoming more and more strict it has become a very hard to export wired copper items overseas…so the low-grade market for copper has really moved down.
Reported Non-Ferrous Prices (10/25-10/31)
- Vancouver, British Columbia* #2/3 Mixed Copper $2.50/lb
- Rockaway, NJ. #1 bare bright wire. $2.68/lb
- Edwardsville, IL Insulated Copper Wire $0.50/lb
- Buffalo, NY Aluminum Rims $0.60/lb
- Fenton, IL AL Extrusion $0.35/lb
- Edwardsville, IL PC Boards $0.95/lb
- Louisville, KY #2 copper tubing. $2.35/lb
- Rochester, NY Sheet Aluminum $0.46/lb
- Huntsville, AL Brass $1.28/lb
- Tullahoma, TN #3 Roofing Copper. $2.00/lb
- Willis, MI #2 copper tubing .25/lb
- Rockaway, NJ. Bronze. $1.68/lb
Ferrous Market Updates
Steel has seen a slight rise over the last few weeks, but overall we have seen the market remain steady. With that being said, we have seen a lot of positive signs in the overall markets, which has been a really great sign going into 2018.
A lot of businesses seem to be not only expanding but building and reconditioning existing equipment as well.
Reported Ferrous Prices (10/25-10/31)
- Garden City, KS Scrap Iron. $75/ton
- Buffalo, NY Sheet Iron $145.60/ton
- Columbus, OH Shreddable Steel $110/ton
- Rochester, NY Cast Iron. $210/ton
- Scottsville, KY #2 Heavy Steel $0.09/lb
- San Jose, CA Light Iron. $100.80/ton
With electric cars becoming such a wave of the future, we have seen more and more people asking about the electric car recycling markets and how things will start to function scrap wise going forward.
This is not always an easy question, but what we do know is that the cobalt that is in the electric batteries will become a hot commodity to recycle, but finding and figuring out the right people to work with will be a tough problem. We will continue to work on finding those answers and getting them to you as we learn them.