Good Day Scrappers!!!
Despite the stock market in turmoil over the last week, we have been very happy with the metal prices and hope to see the strength of commodities continue for the first quarter of this year. Many people have asked us what’s going on with the stock market, but it’s very complicated question because there are so many factors that go into it that change the outlook of metal prices. Let’s take a look at where the different metal markets are this week.
Non-Ferrous Market Report
With the stock market going up and down what seems like 500 points every day over the last week, we have been very happy with the steady prices on the copper market.
With copper changing no more than two cents either up or down over the last week, we have been very excited to see this outcome with all things considered in the outside investing market.
Many people focus on gas and stock prices. But with commodities like copper, iron, and aluminum being so strong right now in production and new development, the market seems to have an optimistic look on metals for the new year in short-term future.
Reported Non-Ferrous Prices (1/31 – 2/6):
- Ashville, NC: #2 Copper Tubing, $2.50/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.75/lb.
- Edmonton, Alberta*: #2/3 Mixed Copper, $1.10/lb.
- Lincoln, NE: Yellow Brass, $2.04/lb.
- Hayward, CA: Electric Motors, $0.15/lb.
- El Cajon, CA: #1 Copper Tubing, $2.00/lb.
- St. Paul, MN: #1 Bare Bright Copper Wire, $2.64/lb.
- Spokane, WA: Aluminum Rims, $0.30/lb.
- Lubbock, TX: Pewter, $0.08/lb.
- Columbus, GA: ACR, $1.28/lb.
- Blytheville, AK: Aluminum Siding, $0.50/lb.
Ferrous Market Update
Steel prices have been relatively unchanged over the last two weeks. That is a very welcome sign after seeing price drops of an average of $17 per ton reported through a reported pricing system.
With oil place is been relatively strong, we should continue to see the steel and iron market push forward with positive trends into the rest of 2018. We have seen prices of the last week I’m slightly, no more than three dollars per ton on average. But again with everything going on the outside investing market with the stock market going up or down. We are very happy overall.
- Oshawa, Ontario*: Shreddable Steel, $175.00/ton
- Lansing, MI: Sheet Iron, $185.00/ton
- Hatboro, PA: Light Iron, $140.00/ton
- Colorado Springs, CO: Light Iron, $110.00/ton
- Detroit, MI: Sheet Iron, $140.00/ton
- Hartford, CT: Shreddable Steel, $140.00/ton
- Port Allen, LA: Light Iron, $165.00/ton
- Waupaca, WI: Shreddable Steel, $150.00/ton
- Columbus, GA: Scrap Iron, $0.06/lb.
- Rochester, NY: #1 HMS, $240.00/ton
- St. Paul, MN: Sheet Iron, $105.00/lb.
- Montreal, Quebec*: #1 Steel, $0.25/lb.
Other Metal Markets
Gold price has been relatively stable, we have seen the market reflecting a large demand not only for gold other were off precious metal. One metal That we continue to talk about is cobalt. Which is one of the primary metals used in the lithium ion and other type of high producing batteries. It is still very open market that we are learning about and will continue to update you on.
Scrap ya later!!!