With a new President in office we will be tuned in over the next few weeks and months to see what changes start to take place and how these changes will affect the overall scrap market…President Trump has talked a lot about infrastructure improvements, and hopefully these will lead to positive movements in the markets, most likely in the steel markets.
Non-Ferrous Scrap Update
Over the last week we have seen the copper prices rise even higher then we thought would happen this year so early…but more importantly they have not gone down after the large increases. We have seen these markets take a nice jump and hold…and that is important because that hold will mean that the dealers across the US and Canada that you sell your metals too will be able to increase their prices and hold them too!
Reported Non- Ferrous Prices:
- Riverhead, NY: Aluminum Scrap, $0.20/lb. (1/25/17)
- Edmonton, AB: Insulated Copper Wire, $0.50/lb. (1/26/17)
- Terrell, TX: #1 Bare Bright Copper Wire: $2.13/lb. (1/26/17)
- Columbus, GA: Brass, $1.23/lb. (1/25/17)
- Hamilton, GA: Aluminum Cans, $0.45/lb. (1/26/17)
- Escondido, CA: #1 copper tubing, $1.90/lb. (1/25/17)
Ferrous Scrap Update
In the steel and iron markets we have seen the prices decrease sharply since last week with prices dropping $30 per ton on average. With the sudden increase the first few weeks of this year this should not come as a surprise (and this also was the same pattern of early 2016 as well), but hopefully the quick drop will stop soon.
Reported Ferrous Prices:
- Hamilton, GA: Light Iron, $10/ton (1/26/17)
- Liberty, NC: Steel Shavings, $5/ton (1/25/17)
- Santa Fe, TX: Shreddable Steel, $60/ton (1/25/17)
- Eastman, GA: Cast Iron, $100/ton (1/25/17)
With the new party in office it is now a wait and see approach as to how not on the US, but the world markets react. With the DOW hitting 20,000 points for the first time and it being up about 15% since Trump won…this is a nice swing, but sometimes things go up too quickly.
We hope that 2017 is a better pricing year then 2016 and so far it seems to be headed that way.
Stay tuned and we will talk to you next week…scrap ya later!
National Average Scrap Prices (1/26/17):
- Bare Bright Copper: $1.85-$2.22
- Copper Pipe: $1.72-$1.97
- Clean Brass: $0.85-$1.18
- Insulated Copper: $0.45-$1.45
- Aluminum Sheet: $0.22-$0.33
- Stainless Steel: $0.23-$0.29
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $85-135 per ton