Hey iScrappers and Happy Holidays to All!
With the last few days of 2016 here…you will have to wait all the way until next year to get the next “What’s Up?” update from iScrap…hahaha (corny joke, but it’s ok). Over the week since Christmas happened we have not seen too much movement in the markets anywhere. Copper with a slight uptick, steel prices still holding steady to where they were, and stainless prices raising slightly as well.
We are hoping that with the New Year we continue to see prices climbing, reported prices going up, and more and more prices being reported through the iScrap App.
Hear More About Copper Wires, E-Scrap Prices, & 2016 Scrap Price Wrap Up
Topics In This Week’s Video:
2016 Scrap Metal Industry Recap
Wow…what a year. 2016 showed a lot of ups and downs in the pricing markets for well…everything. With many steel and iron prices going as low as they have been in years many scrap yards instituted new policies…whether they were minimums purchase weights or even taking material for free due to the low prices.
With those low steel prices we saw dozens of scrap yard closings through the US and Canada because many companies were not able to keep their doors open and have enough material coming in to be able to cover their overhead.
But….What About Copper?
With the markets really tanking in the beginning of the year we got to one point during 2016 where the copper prices reached multi year lows. Many people started holding onto their metals and because of that we saw larger loads of material coming into the yards after the Presidential election happened because people were taking advantage of the very high price spikes that happened once Trump was elected.
Gold Prices in 2016 Saw A Drop
Like Tom mentioned in the above video, the prices for gold have dropped a bit in the year 2016. With the prices dropping and the technology getting better over the last 15 years or so, the gold content in electronics is much less. Despite less gold in materials, the price of gold is still a good indicator for prices for e-scrap.
Also (seen in video above) the CPU chips found in computers and laptops have much less gold and have different structures in terms of the backs and contact spots on them. Be sure to learn more about our CPU chips in our latest blog.
What About 2017?
With so many different perspectives on the markets for 2017 we are taking a very optimistic one. We think that the markets will continue to be strong and stay at a consistent level for a while…aka, what you see is what you get. The one question mark is the ferrous market with the prices going up so quickly the last quarter of 2016 that we may see a pullback going into the first few months of 2017…but after that we don’t know.
Happy New Year to all from the iScrap Team, hope you have a safe and prosperous one filled with buckets of copper and brass!
National Average Scrap Prices (As of 12/28/16)
- Bare Bright Copper: $1.85-$2.15
- Copper Pipe: $1.67-$1.92
- Clean Brass: $0.85-$1.15
- Insulated Copper: $0.45-$1.20
- Aluminum Sheet: $0.22-$0.33
- Stainless Steel: $0.21-$0.27
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $75-115 per ton