With the market all over the place and stocks, oil, and most metals dropping like crazy it is really difficult to really gauge what is going on right now.
Oil Prices Are Plunging
Since the start of 2016 oil prices have dropped more then 25% and that has affected not only copper prices but steel and all things related to finance right now. The market is in such limbo that guessing where it is going to go next is almost impossible and we are advising two options for scrap right now.
Pick Your Scrap Metal Poison
- Sell all that you have…if you are holding, sell now. The markets look to be retreating and because of that you may not be able to cash in for all of your hard work in time.
- Save…save…save…if you want to save it is not the worst idea, just plan on saving for a long time because it will take a while to have those prices recover to where they were.
This is not the best time or news for people to hear right now. Even though we love the gas prices being so low…they really are hitting the oil prices very hard and that is making it very difficult to find hope for higher scrap prices anytime soon.
One thing scrappers…watch the prices online and post your prices online so you can make sure to have the most accurate numbers before you sell your material.
Scrap ya later!
Current Scrap Prices As Of 1/20/16
- Bare Bright Copper: $1.55-$1.70
- Copper Pipe: $1.30-$1.60
- 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