3/7/18 Scrap Price Report: How Tariffs Will Affect Scrap

Hey iScrappers!

We hope that everyone has been staying busy and working a lot. There’s been a lot of crazy stuff going on, including a lot of people have been asking us about the new tariff that will be put on the steel and aluminum market, so let’s talk about that.

The biggest question will be how will these tariffs affect scrap prices, and the answer is not going to be an easy one.

We’re going to see a lot of price adjustments starting to happen on goods and services. Until a lot of the tariffs really going to affect, we’ll be waiting to see how the new inventory starts getting priced out in the next few months.
Overall, the markets have been pretty good with copper had a nice come back after the drop last week, and steel prices have improved as well. Let’s talk about both of those metals a little more in depth going forward.

Non-Ferrous Scrap Markets

With the copper market recovering from last week’s drop, we’re happy to see that most of the prices have been going up. Some people will complain about the market still be down slightly, but don’t forget the market is still only about $0.10-$0.15 off of the four-year highs.

Aluminum has been very strong and stainless steel has as well. Both of these markets we’ve seen prices across US and Canada going up $0.03 per pound overall for the entire market.

Reported Non-Ferrous Prices (2/28 – 3/6):

  • Brockton, MA:  Romex Wire, $1.25/lb.
  • Rockaway, NJ:  #1 Bare Bright Copper Wire, $2.72/lb.
  • Dartmouth, Nova Scotia*:  Power Supplies, $0.15/lb.
  • Bristol, CT:  Dirty AL Radiators, $0.23/lb.
  • Alvin, TX:  Compressors, $0.10/lb.
  • London,Ontario*:  304 Stainless Steel, $0.70/lb.
  • Rochester, NY:  Tin, $196.00/ton
  • Maple Grove, MN:  Insulated Aluminum Wire, $0.32/lb.
  • Seven Points, TX:  Aluminum Siding, $0.30/lb.
  • Halifax, Nova Scotia*:  Lead, $0.65/lb.
  • St. Louis, MO:  Aluminum Radiators, $0.38/lb.
  • Brooklyn, NY:  #1 copper tubing, $2.50/lb.

Ferrous Scrap Market Updates

Steel prices have been in a good spot lately, we’re happy to see most scrap yards have been buying steel at a much higher price and the overall market has gone up about $7.00 per ton.

The one big question will be what is going to happen with the market once these tariffs start going into effect. Unfortunately, we don’t have a crystal ball and until we have one, our guess will be as good as yours.

Reported Ferrous Prices (2/28 – 3/6):

  • Oakland, CA:  #1 HMS, $230.00/ton
  • Bristol, CT:  Light Iron, $0.06/lb.
  • Alsip, IL:  Scrap Iron, $200.00/ton
  • Rochester, NY:  #1 HMS, $260.00/ton
  • Thief River Falls, MN:  Light Iron, $80.00/ton
  • Port Huron Township, MI:  $140.00/ton
  • Walcott, CT:  #1 Steel, $200.00/ton
  • London, Ontario*:  Scrap Iron, $0.10/lb.
  • Brooklyn, NY:  Cast Iron, $0.10/lb.
  • Dartmouth, Nova Scotia*:  #1 Steel, $180.00/ton
  • North Tonawanda, NY:  Light Iron, $150.00/lb.

Other Metal Markets

One of the biggest things that we are still worried about is that copper wire market. There is such a problem with the export market that we just don’t know where the hell the material will be going.

That continues to be one of the biggest things that we are trying to work on learning what will happen going forward.

*Canadian Dollar Prices

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