2/28/18 Scrap Price Report: Are Steel Prices About To Go Up?

Hello Scrappers!

We hope that everyone has been busy and have been enjoying these higher prices on copper and aluminum. We’ve also seen an increase in the steel prices, and which is very good going into the springtime.

Non-Ferrous Scrap Markets

Copper Prices Just Jumped Today

We saw copper prices increase a bit before our report this afternoon, overall we have seen a very strong demand for copper along with price increases. Copper continues to be one of the hotter metals over the last year with a strong demand and looks to be the trend for the rest of 2018.

After reading several articles going over anything from electronics to hybrid vehicles, we have seen the demand for copper continue to thrive and hopefully, we will continue to see these prices reflect that positivity.

Aluminum prices have also increased over the last few months with an average increase of $.04-.06 per pound on all grades of materials. We have seen multiple people continuing to update the prices they have been getting in their area and that’s an awesome thing to see.

Reported Non-Ferrous scrap prices Last Week:

Ferrous Scrap Market

Is Steel About To Go Up?

Steel prices have continued to remain strong even after seeing price drops earlier in January. We’ve seen an average of the $5.00 per ton increase over the last week, and hopefully, that will continue going into the rest of the springtime. With possible restrictions on the importing of steel from overseas, we might see steel prices rise even higher than they’ve been.

While many think this may be a good thing because it will limit the amount of overseas importing of metals, we are not completely sold on the idea yet. Walt would be great to be able to have more taxes on overseas metals,  we still have to wait and see how it will affect the steel and iron markets in the United States. Some of the local mills that are located across the country may not be able to keep up with the new amount of volume that will be coming in, and because of that, we may see the prices remain where they are right now.

Reported Ferrous scrap prices Last Week:

  • Hazel Park, MI: Light Iron, $168.00/ton
  • Columbus, IN: Sheet Iron, $0.08/lb.
  • Manchester, NH: Shreddable Steel, $95.00/ton
  • Portland, OR: #1 Steel, $100.00/ton
  • Weedville, PA: Light Iron, $150.00/ton
  • Omaha, NE: Shreddable Steel, $115.00/ton
  • East Berlin, PA: Cast Iron, $1.00/lb.
  • Rochester, NY: #1 HMS, $260.00/ton
  • Albuquerque, NM: Light Iron, $120.00/ton
  • Flat Rock, NC: Shreddable Steel, $0.06/lb.
  • Columbus, IN: Scrap Iron, $190.00/ton
  • Twin Lakes, WI: Light Iron, $140.00/ton
  • Loda, IL: #1 Heavy Melting Steel, $90.00/ton

Other Scrap Metal Markets

Many are calling for gas prices to continue to rise into the rest of 2018, and we have to be in a wait-and-see mode because of that. Who knows where the markets going to go in because of that we could still have large variations on pricing for different type of metals.

Gold has continued to remain over 00 per ounce, but with so many people asking so many questions about the overseas importing, especially in China, we have to wait and see where the pricing will be overall.

Scrapppp Ya Later!


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