With Christmas and the holiday season around the corner, we are still enjoying prices that have been climbing most of 2017 and have a bright outlook going into next year as well. Even with the copper markets down to the levels that saw back in September, compared to a year ago they are still up about 13% from exactly one year ago and they are up 30% since President Trump was elected back in November 2016.
While the markets are down about 20 cents over the last few weeks, overall we have seen a really strong market that we have been happy with and it seems to be positive going forward.
With China consuming about half of the world’s copper right now they are one of the biggest determining factors in all of these prices and swings.
Like we said, with China having such an impact on the world markets for scrap and consumption of copper a lot hinges on them. With the markets taking about a 15 cent hit over the last week we have seen an immediate drop of $0.15-.20 across the board on materials like Bare Bright, Copper Pipe, and about a $0.04-0.07 drop on wire and brass products.
Aluminum is unchanged mostly, maybe a couple of cents down, but very strong.
The raw lead market has been strong, but the lead battery market has taken a 1-2 cent drop-off in the reported prices that have seen coming in over the last week.
Reported Non-Ferrous Prices (11/29-12/5):
- Phoenix, AZ: Lead Batteries, $0.10/lb.
- Rockaway, NJ: #1 Bare Bright Wire, $2.62/lb.
- San Antonio, TX: Aluminum Rims, #0.40/lb.
- Chesapeake, VA: Insulated Copper Wire, $0.22/lb.
- Tempe, AZ: #2 Copper Tubing, $2.30/lb.
- Elkhart, IN: Brass Scrap, $1.70/lb.
- Dallas, TX: 304 Stainless Steel, $0.90/lb.
- Tempe, AZ: Copper Transformers, $0.04/lb.
- Texarkana, AK: Aluminum Scrap, $0.36/lb.
- Colorado Springs, CO: Aluminum Engine Block, $0.05/lb.
- Denver, CO: #2/3 Mix Copper, $0.45/lb.
- Harrisburg, PA: Cast Aluminum, $0.40/lb.
Wow! What a jump we have seen the last few days in the steel markets. With prices jumping $20-30 per ton in many parts of the country we have been very optimistic that this market will continue to strengthen and we hope to see this trend continue and really start to spread through the middle of the US and into Canada.
We know that many people have lag times in seeing their local prices jump, but there are many good reasons for that happening. Many scrap yards that deal in large quantities of steel have contracts out that they need to fill and because of that, they will not raise their prices until filling old orders.
While this may not be popular or great news for the scrappers….it also can help you when the markets fall and scrap yards keep their prices artificially higher so they can fill contracts and potentially gain new customers in the process.
Reported Ferrous Prices (11/29-12/5):
- Mt. Pleasant, WI: Light Iron, $0.04/lb.
- Valdosta, GA: Scrap Iron, $0.03/lb.
- Tempe, AZ: Sheet Iron, $75.00/ton
- Russellville, KY: Scrap Iron, $90.00/ton
- Rochester, NY: Tin, $136.00/ton
- Eldon, MO: Shreddable Steel, $90.00/ton
- Marshalltown, IA: #2 Prepared Steel, $160.00/ton
- Loves Park, IL: Light Iron, $90.00/ton
Other Scrap Metal Markets
Gold took a bit of a hit a few days ago when copper dropped and dipped in the $1260 per ounce range. We have seen the electronics market have a large pullback, and that is mostly because of the continuing tightening of the overseas import markets. Until the plastics industries get sorted out we will continue to see problems with electronics.
Scrap ya later!