Good Day Scrappers!!!
With Spring officially here we are happy to see so many businesses starting to work and dig out of a lot of the snow. We have also heard that a lot of people have seen a large uptick in the amount of work that they have coming into their yard, so hopefully, that will continue to show a positive sign with metal markets.
A lot of the talk over the last week has been about sanctions that President Trump has put on other countries such as China, and a lot of this is still working to get sorted out.
Well Copper has slipped, we have seen the steel and iron markets continue to strengthen and hopefully, that will be a big uptick in 2018, so let’s talk about a couple more metals a little more in depth.
Non-Ferrous Scrap Markets
After some of the tariffs were put on China last week we saw a large drop in the copper market. With the stock market also taking a large drop last week this has a lot to do with the copper prices falling.
It seems like there’s a very strong potential for China and the US to work out some of the tariff issues, and that should help the copper market rebounds, but until that happens we are just in a wait-and-see mode.
With copper prices dropping about $.13 a pound over the last week it was a tough week for all scrappers.
We saw a small uptick on Monday, but that was after the day I initially started down after the bad and the stock market week on Thursday and Friday last week.
Reported Non-Ferrous Prices (3/21 – 3/27):
- Kendallville, IN: 304 Stainless Steel, $0.30/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.70/lb.
- Marion, AK: Brass, $1.83/lb.
- Kempner, TX: Car/Truck Batteries, $0.20/lb.
- Kaukauna, WI: Insulated Copper Wire, $0.75/lb.
- East Chicago, IN: Lead Batteries, $0.29/lb.
- Columbus, KS: #1 Bare Bright Copper Wire, $2.57/lb.
- Maple Grove, MN: THHN Wire, $1.42/lb.
- Concord, NH: #1 copper tubing, $2.31/lb.
- Columbus, OH: Electric Motors, $0.20/lb.
- South Boston, MA: Lead, $0.40/lb.
- Great Falls, MT: 300 Series Stainless Steel, $0.30/lb.
Ferrous Scrap Metal Markets
With a lot of people asking questions about where the steel and iron market would be going since President Trump Put the tariffs into a fact, we have started to see this taking place.
With the steel and iron market prices up $30-$40 per ton over the month of March, it’s one of the largest increase is that we have seen in recent years.
Hopefully, this will continue going into the springtime, but there are still a lot of questions and concerns about where and how quickly the market will be heading up words going into the spring and summer.
We have seen reported prices increase anywhere from $20-$40 per ton over the last few weeks and hopefully, this will continue going forward.
Overall we are very happy with where the market is, and where it’s headed. We think this is a very good thing for the entire market going forward and hopefully will start to see this trend blend into all medals including copper and aluminum.
Reported Ferrous Prices (3/21 – 3/27):
- Taylorville, IL: #2 Prepared, $200.00/ton
- Louisville, KY: Shreddable Steel, $135.00/ton
- Oakland, CA: #1 Steel, $0.10/lb.
- Georgetown, DE: Light Iron, $120.00/ton
- Fargo, North Dakota: Shreddable Steel, $90.00/ton
- St.-Hubert, Quebec*: Light Iron, $260.00/ton
- Omaha, NE: Shreddable Steel, $140.00/ton
- Meridian, MS: Light Iron, $0.09/lb.
- Lafayette, LA: #1 Prepared, $200.00/ton
- Fort Smith, AK: Shreddable Steel, $0.06/lb.
- Preston, ID: Light Iron, $100.00/ton
- Truro, Nova Scotia*: Shreddable Steel, $170.00/ton
- Carson, CA: #1 Steel, $180.00/ton
With the gold prices hovering over $1,300 an ounce for the entire month of March, we are very optimistic going forward. With self-driving cars, buses, and other electronics coming into the market that will need more and more semiconductors, we expect to see gold used much more frequently. Other markets such as Palladium, platinum, and rhodium will also be used more and more in the electronics and auto industry and that will be a positive sign for the scrap market for gold.