Woweeeee that lottery in the US is CRAZY!!! Who wants to become a BILLIONAIRE today?!?! Hope someone shares the wealth if they actually win.
The price of oil has really hurt the overall market right now and that is a large reason that we have seen such drastic drops in all markets. The oil prices have hit the copper and steel markets, and unless you see oil prices start to rise you will not see the prices on copper, brass, or other scrap metals going up anytime soon.
Copper Prices Has Seen 7 Year Lows
This will be a very trying year for scrappers….but where there is an opening, there is an opportunity to get in and really get some volume that will be left out there. In the last week we have seen a lot of crazy crazy things happening. The copper market has reached lows that have not been seen since 2009 and oil prices are hurting all of the metal prices as well.
Steel Is Moving…Slowly, Very Slowly
Steel pricing has moved up slightly, and you might see a $5-10 jump per ton in pricing. That may be a temporary jump because the volume of scrap has deceased so much and the pricing jumped to reflect that.
Other then those main prices we might be in for a rough year but if you stay tuned to the other people reporting prices you should be in good shape.
They say that Rome wasn’t built in a day…but with one piece of scrap at a time you will be able to get more and more material because less people will be out there scrapping right now.
Scrap ya later!
Current Scrap Metal Prices for 1/13/16:
- Bare Bright Copper: $1.60-$1.75
- Copper Pipe: $1.35-$1.65
- Clean Brass: $0.92-$1.02
- Insulated Copper: $0.50-$1.30
- Aluminum Sheet: $0.22-$0.29
- Stainless Steel: $0.22-$0.26
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $25-$48 per ton