2/1/17 Scrap Price Update: Steel Prices Take A Drop

Hey iScrappers!

We hope that the last week has treated you well and across the US that some of the scrap prices have risen in multiple yards that you are working and dealing with. One of the things that we have talked about over the last few weeks are starting to come into fruition…and those steel prices dropping are one of them. Let’s get into this weeks update.


Non-Ferrous Scrap Price Update

With the price of aluminum, copper, and stainless all increasing we have seen multiple reported prices that are showing positive signs of scrap yards across the US and Canada upping their prices. We have seen the prices rise over the last week even after taking a bit of a dip on Monday afternoon.

Copper has taken and HELD a nice increase over the first full month of 2017 and we are VERY happy to see that. While the demand does not seem to be there yet, a lot of this is simply speculation for investors.

With not too much development throughout the US and the world compared to 5-7 years ago, a lot of people think that these price increases are mostly traders on Wall Street and speculators that may be driving the prices up and long term that is not a good thing.

Here Are Some Of The Non-Ferrous Reported Prices From The Last Week:

  • Langley, BC: Alternators, $0.50 per lb (2/1/17)* Canadian Yard.
  • Beaumont, TX: 316 Stainless, $0.35 per lb (2/1/17)
  • North East, PA: Bare Bright, $2.29 per lb (2/1/17)
  • Lewiston, ID: Aluminum Siding, $0.35 per lb (1/31/17)
  • Ponderay, ID: Stainless Steel, $0.18 per lb (1/31/17)
  • Ponderay, ID: #1 Tubing, $1.30 per lb (1/31/17)
  • Detroit, MI: Brass, $1.10 per lb (1/31/17)
  • Aiken, SC: Brass, $1.37 per lb (1/31/17)
  • Kennendale, TX: Bare Bright, $1.79 per lb (1/30/17)
  • Norfolk, NE: #2 Tubing, $1.99 per lb (1/30/17)


Ferrous Scrap Price Update

Steel prices have continued to weaken with the prices going down across the board on all grades. We have seen a lot of people complaining that the prices have gone down, but the one thing that we like to talk about is that the prices are still more than double what they were this time last year…and that is a positive sign.

Here Are Some Of The Ferrous Reported Prices From The Last Week:

  • Pocatello, ID: Light Iron, $70 per ton, (1/31/17)
  • Detroit, MI: Light Iron, $135 per ton (1/31/17)
  • Aiken, SC: Light Iron, $0.055 per lb (1/31/17)
  • Omaha, NE: Shreddable Steel, $100 per ton (1/30/17)
  • Tampa, FL: Cast Iron, $0.06 per lb (1/29/17)
  • Bangor, ME: Cast Iron, $70 per ton (1/28/17)

Hope that you have been staying busy and been paying attention to the prices in your area. Make sure that you take advantage of others reporting their prices and keep posting your own.

Scrap ya later!

-Tom


National Average Scrap Prices (as of 2/1/17):

  • 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: $65-125 per ton

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