With the Presidential Election finally decided….WOW the market has moved. We have seen the copper prices jump OVER 20 CENTS PER LB!!!!!! These moves have not been seen in a long time and it seems to be directly correlated to the election..so let’s get into it.
Below you can watch our Facebook Live video for our weekly update and see what kind of ways the election is going to impact the scrap metal markets. Also you can find out the difference between bronze and brass when scrapping it with your scrap yard.
Non-Ferrous Markets for Scrap Metal
We have seen the copper prices really jump over the last few days in a way that we have have not seen in a LONG time. With the election over we now have a new President coming into office and we have seen the markets react like we have not seen in a long long time. The markets are up over 20 cents in the last few days and with those changes we have seen some crazy turns…but a lot of big buyers are a little resistant to have the big changes because they are not sure if the changes are here for good or not.
Here are some of the reported prices over the last week:
- Council Bluggs, IA: Bare Bright, $2.10 per lb. (11/9)
- Byesville, OH: Brass, $1.05 per lb (11/9/16)
- Vincetown, NJ: Bare Bright, $1.70 per lb. (11/9/16)
- El Reno, OK: Aluminum Cans, #0.30 per lb (11/8)
- Pennsauken, NJ: Stainless Steel, $0.25 per lb (11/8)
- Richmond, VA: Brass, $1.10 per lb (11/8)
- Mobile, AL: #1 Tubing, $1.60 per lb (11/8)
- Mobile, AL: Brass, $0.85 per lb (11/8)
- Murray, NE: #1 Tubing, $1.80 per lb (11/8)
Ferrous Markets for Scrap Metal
With the copper and Brass prices ticking up we have seen a lot of news on the steel and iron front as well. The prices have jumped up and because of that we have seen more increases and stabilizations over the last few weeks.
Here are some of the steel prices from the last week:
- Rochester, NY: Light Iron, $142 per ton (11/9)
- Pennsauken, NJ: #1 Steel, $85 per ton (11/8)
- Richmond, VA: #1 Steel, $60 per ton (11/8)
- Colchester, IL: #1 Steel, $105 per ton, (11/8)
- Swanton, MD: #1 Steel, $60 per ton (11/8)
With the election over we will start to see where the markets will be headed and hopefully…that means the prices will GO UP!
Scrap ya later!
National Scrap Price Averages (as of 11/9/16):
- Bare Bright Copper: $1.75-$1.95
- Copper Pipe: $1.57-$1.82
- Clean Brass: $0.80-$1.15
- Insulated Copper: $0.45-$1.10
- Aluminum Sheet: $0.22-$0.33
- Stainless Steel: $0.21-$0.27
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $55-95 per ton