4/5/17 Scrap Price Update: Steel Prices Drop

No fooling…April is already here scrappers!

We cannot believe it either but we have made it through what was a crazy first quarter for 2017 and proved to make us second doubt and even think three times about what was going on part of the time. The markets are all over the place and with the prices of steel going down over the last week we have seen the markets being a little out of whack, so let’s talk about it a little more.


Non-Ferrous Market Updates

The markets have been going up today…but have been going a little crazy over the last week or so. We have seen the prices on copper going up and down the same 10-15 cents over the last month and it has caused some concern with investors and with the export markets. While we have talked about copper mines striking in the past, as well as a glutton of inventory, there are a lot of things that play into these non-ferrous prices and it very tough to figure out.

  • Bristol, NH: Aluminum 6061, $0.35 per lb (4/5)
  • San Antonio, TX: Bare Bright Copper, $2.04 per lb (4/4)
  • San Antonio, TX: Stainless Steel, $0.04 per lb (4/4)
  • Haddon Township, NJ: aluminum siding, $0.55 per lb (4/4)
  • Dallas, TX: Stainless Steel, $0.35 (4/4)
  • Richmond, VA: Brass Scrap, $0.75 per lb (4/4)
  • Dallas, TX: #2 Tubing, $2.17 per lb (4/4)
  • Sinton, TX: Aluminum Cans, $0.50 per lb (4/3)


Ferrous Market Updates

The markets for steel and iron have been drastically weakening. With the overall market down $30 per ton on average for all materials over the last week we have to be on the look out for the prices dropping even more in the coming weeks.

  • Bristol, NH: Light Iron, $60 per ton (4/5)
  • San Antonio, TX: Bare Bright Copper, $2.04 per lb (4/4)
  • Dallas, TX: #1 Tubing, $1.75 per lb (4/4)
  • Hopkins, MN: Light Iron, $0.04 per lb (4/4)
  • Salem, IN: Scrap Iron, $110 per ton (4/4)


Other Market Updates

The aluminum markets, gold markets, and Nickel markets have done really well over the last week and we have seen them stay if not increase over that period.

The gold prices were on the rise and went over $1260 per ounce while rising over $60 per ounce since we spoke last week. These overall metal levels have been very strong and the markets are indicating very strong levels across the board for most materials.

While there are some hesitations with the steel and iron markets, we are still well above the prices that we had a year ago and that is a very good thing.

Scrap ya later!

-Tom


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