2/15/17 Scrap Price Update: You Should Sell Now

Hey iScrappers!

We hope that the weather has been treating you well across the US and Canada. We talked to a lot of people lately that have been hit with a lot of snow and ice and that has really hindered some of the things that they are working on and trying to scrap.

With winter weather you ALWAYS have to be on the lookout for things that freeze (aka copper pipes) or things that could get broken off of the outside of buildings and homes (aka aluminum gutters). These things cause problems for home and business owners…but ultimately could prove beneficial for the scrapping that you are looking to do


Non-Ferrous Scrap Market Update

With the copper prices hitting 2 year plus highs this week we have been really anxious to see how buyers overseas and domestically would be reacting to these high prices…and the opinions have been mixed.

Many people think that the pricing on copper is too high, and there was no justification for the markets going up as high as they did…and because of that many buyers have widened their spreads due to the higher prices to protect themselves against sharp price drops…for example, on Monday the markets went up about 8 cents…and then Tuesday morning copper jumped another 2 cents to start the day…all positive right?

A few minutes before the stock markets opened the copper market took a quick turnaround and copper prices dropped about 7 cents in the blink of an eye. These are the things that scare scrap yard owners and the traders/brokers/mills that the scrap yards will ultimately sell too.

Reported Non- Ferrous Scrap Prices Over The Last Week

  • Rochester, NY: Brass, $1.41 per lb (2/15/17)
  • Calverton, NY: Stainless Steel, $0.32 per lb (2/15)
  • Elizabethtown, KY: #1 Tubing, $2.00 per lb (2/15)
  • Urbanna, VA: Insulated Copper Wire, $0.25 per lb (2/15)
  • Pittsburgh, PA: Aluminum Siding, $0.35 per lb. (2/14)
  • Milton, FL: Aluminum Siding, $0.40 per lb (2/14)
  • Gainesville, FL: #1 Tubing, $2.03 per lb (2/14)
  • Macon, NC: Brass, $1.60 per lb (2/13)


Ferrous Scrap Market Update

While the copper and other non-ferrous prices have hit highs we have seen some good signs from the steel/iron market over the last week. We have seen prices increase about $7 per ton on average over the last week which is a very positive thing for the scrap yard owners to see and to almost immediately reflect in their pricing.

With there being more optimism for the steel markets domestically, we are hoping to see the market continue to improve, but in our opinion it will not happen for another few months until we can see where the new Presidential administrations projects and goals start to happen.

Reported Ferrous Scrap Prices Over The Last Week

  • Rochester, NY: Light Iron, $167 per ton (2/15/17)
  • Urbanna, VA: Shreddable Steel, $0.08 per lb (2/15)
  • Pittsburgh, PA: Cast Iron, $100 per ton (2/14)
  • Bridgewater, MA: Cars w/Tires, $250 per car (2/14)
  • Sanford, FL: Cast Iron, $95 per ton (2/13)

Please let us know if there is more that we can get to you to help you learn about market pricing, information, or where things are headed.

Scrap ya later!

-Tom


National Average Scrap prices (as of 2/15/17):

  • 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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