We hope that you have been hitting the ground running with the markets being so strong and the Spring time here. Hopefully that will means that you are working hard, scrapping often, and don’t forget to share your scrap stories by emailing us at [email protected]!
Non-Ferrous Market Updates
Copper has sunk about 18 cents below the highs that it topped out at, and because of that we have seen the markets dip all over the place. With prices down all three days this week we have seen the markets weaken as it seems to have demand slipping. With oil prices rising we have seen a partial jump, but there still is not too much great news going around yet.
Reported Non-Ferrous Prices:
- Thief River Falls, MN: Bare Bright, $2.00 per lb (4/12)
- Clarksville, TN: ACRs, $1.24 per lb (4/12)
- Niles, OH: Electric Motors, $0.20 per lb (4/11)
- Milford, OH: Bare Bright, $1.90 per lb (4/11)
- Holmen, WI: Sheet Aluminum, $0.25 per lb (4/10)
- Montgomery, AL: #1 Tubing, $2.30 per lb (4/10)
- North Chicago, IL: Siding, $0.40 per lb (4/9)
Ferrous Market Updates
Steel prices have continued to weaken and with the markets dropping again this week we have continued to see the steel prices dropping at a steady pace. With oil prices double where they were last year, and with steel prices also double, we are hoping that as the oil prices stay high that we can continue to have a steady market with steel and iron.
Reported Ferrous Prices:
- Rockaway, NJ: Light Iron, $100 per ton (4/11)
- Holmen, WI: Sheet Iron, $80 per ton (4/11)
- Phenix City, AZ: Cast Iron, $90 per ton (4/10)
- North Chicago, IL: Cast Iron, $125 per ton (4/9)
Other Market Updates
With all of the markets still at multi year highs we think that the scrap market has been very strong overall and we still see good signs coming. If you go to major cities like Chicago, NYC, San Fransisco, or other large cities you will see a lot of new construction going on, and while that is excellent to see because that means that a lot of the steel is being used, we still have to think that these are more isolated incidents.
We want to have seen a lot of markets jumping, but the gold prices have really jumped this week with prices approaching $1300 per ounce.
We are happy to see that so many markets are improving and so many scrappers are cashing in. Don’t forget to ask us about any and all questions that you have and we will get to them as soon as we can.
Scrap ya later!