Well we hope that you have been busy out here getting ready for the holiday season. We know that it is a little more difficult right now with many of the scrap prices being so much lower then you are used to, and that is why it is so important to make sure you sort and separate your material so well.
Scrap Price of Copper Report: Copper Weakening
In the last week copper prices have not moved much at all with the prices seeing a slight increase of a penny or two, but nothing too major that will affect your prices at the door of the scrap yard. We have read, talked to, and listened to many analysts reports and thoughts on this entire situation and most seem to say that copper prices will be decreasing and expect the market to weaken in the coming months.
Recently we saw that one of the larger copper mining companies in the world will be laying off about 85k workers which represents about 62% of their workforce…because the outlook on copper has become so tough. Hang in there scrappers…the ones that can weather the storm will be able to reap the rewards.
Scrap Price of Steel Report: Not Moving
Steel prices also have not moved much at all. That seems to be the most simple way of stating the obvious and what is going on with the market. We have not seen much movement at all and it does not look like we will anytime soon either. So…don’t hold on to what you have, but make sure you load your trucks up because many scrap yards are instituting minimums for purchase.
Scrap Price of Gold Report: Gold Is Dropping
Gold prices have fallen below 00 per ounce, at the time that we are putting this update together we see that gold prices are at $1070 per ounce and with many of the metal prices in such a slump you should expect to see the prices staying at lower levels in the upcoming months.
Ok Scrappers, tell us how you have been combating these crazy markets for the holidays!
Scrap ya later!!!
Current Scrap Metal Prices in the US
- Bare Bright Copper: $1.65-$1.72
- Copper Pipe: $1.40-$1.65
- Clean Brass: $0.92-$1.02
- Insulated Copper: $0.53-$1.24
- Aluminum Sheet: $0.22-$0.29
- Stainless Steel: $0.22-$0.26
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $18-$48 per ton
Prices as of 12/9/15