Happy Thanksgiving Scrappers!
With Turkey day around the corner we will not be doing a live session next week, but getting ready to chow down and enjoy some quality time with friends and family. The scrap markets have been up and down the same percentages over the last week with the overall markets still being at a really quality level.
With the oil prices hitting a 2 year high we have seen the markets getting much more adjusted and the scrap pricing has picked up as well. The oil that is being made in the US has really gone up and with th, s we have seen the overall markets really improving.
Non-Ferrous Market News
With copper buoying up and down over the last week we want to go over what is going on and how it may affect many of your holiday cashouts. We know that this time of the year is a heavy time for scrappers and tradesmen to be cashing out and we think that now is as good a time as any to do that.
Reported Non-Ferrous Prices (11/8 – 11/14):
- Lee’s Summit, MO: #1 copper tubing, $2.40/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.71/lb.
- Cedar Rapids, IA: Copper Scrap, 2.05/lb.
- Jupiter, FL: #1 Bare Bright Copper Wire, $2.30/lb.
- Pennsauken, NJ: Electric Motors, $0.10/lb.
- Bend, OR: Yellow Brass, $1.55/lb.
- Flowood, MS: Sheet Aluminum, $0.32/lb.
- Tempe, AZ: #2 copper tubing, $2.25/lb.
- Richmond, CA: Bronza, $1.00/lb.
- Wichita, KS: AL/Copper Cutoffs, $1.00/lb.
- North Little Rock, AK: Brass Scrap, $0.35/lb.
Ferrous Markets News
Steel prices have continued to trend upwards over the last week with pricing jumping about $7 per ton overall over the last two weeks. With that positive trend going into a traditional slower season we are happy to see that because we traditionally use lower pricing going into the markets for the slower winter seasons.
We have read a few reports that say that ferrous pricing may go up again in December, and hopefully we will see that price change happen before the end of the year.
Reported Ferrous Prices (11/8 – 11/14):
- Rochester, NY: Unprepared HMS, $165.00/ton
- Atwater, CA: Shreddable Steel, $80.00/ton
- Chatsworth, CA: Light Iron, $60.00/ton
- Cedar Rapids, IA: Sheet Iron, $80.00/ton
- Norfolk, NE: Tin, $120.00/ton
- Wabash, IN: Cast Iron, $0.08/lb.
- Dayton, OH: Scrap Iron, $0.05/lb.
- Greenville, SC: Steel BX, $0.38/lb.
- Spokane, WA: #1 Steel, $0.09/lb.
Other Metals Markets
With stainless pricing not moving, that means that Nickel pricing has stayed relatively flat overall and the 304 and 316 markets will not have much movement.
The gold market has been relatively high with the markets still close to $1300 per ounce, but the platinum markets have crept down and are about 8-10% off of the highs that we saw back in early September.
We wish you and your families a very Happy Thanksgiving and hope that you are staying busy, scrapping often, and reporting your prices through our website and newly updated app.
We are in the middle of adding an update to the iScrap App which will again have daily updated scrap prices.
Scrap ya later!