Hope everything is going well for you in this scrap has been flowing in. We’ve been answering a lot of questions about the tariffs, the prices of copper, and how a lot of these new import and export laws are going to affect the scrap market. So without further ado, let’s get into it.
Non-Ferrous Market News
Copper has been down slightly over the last week overall about $0.06/lb. With the market having a slight dip or the last week you should not have too much of a concern. This is been going on all of 2018 and because of that we have very little worried that this is anything except normal trade and volatility.
However, the aluminum market has been something that we’ve been watching closely and has been directly affected by the tariffs. The tariffs have caused the aluminum market to increase exponentially going into the first three months of 2018. However in the last week or so we have seen the market drop about 10% since reaching multi-year highs.
Suggested Reading: What Are Metal Tariffs & How Will They Affect Scrap?
Why has the aluminum market dropped in the last week? A lot has to do with the tariffs that we’re going to be enforced, having a delay because of the US administration has been working on deals with multiple countries on their steel and aluminum been flowed into the US.
Reported Ferrous Prices (4/25 – 5/1):
- Kitchener, Ontario*: #2/3 Mixed Copper, $1.00/lb.
- Rockaway, NJ: #1 Bare Bright Copper Wire, $2.72/lb.
- Houston, TX: Brass, $1.10/lb.
- Niagara Falls, NY: Electric Motors, $0.12/lb.
- Alsip, IL: Lead Batteries, $0.10/lb.
- Kansas City, MO: AL Extrusion, $0.40/lb.
- Texarkana, AK: Aluminum Scrap, $0.42/lb.
- Hayward, CA: Christmas Lights, $0.05/lb.
- Chicago, IL: #1 copper tubing, $1.85/lb.
- Woodinville, WA: Insulated Copper Wire, $0.20/lb.
- Pennsauken, NJ: Compressors, $0.15/lb.
- Columbus, GA: ACR, $1.22/lb.
Ferrous Market Prices
Steel prices have taken a hit over the last two weeks with the market down $12 per ton on average through the reported prices that we have seen. With a strong pricing that we saw throughout February, March, and April, we had seen a lot of material starting to flow into different scrap yards across the US and Canada.
With the flow of material into the scrapyards as well as continued news on different steel tariffs, We have seen the market take a bit of a hit. Overall still up very high for 2018 so we are happy with the progress, but we still are a little pessimistic with the next month or two to see where the prices will go.
Reported Non-Ferrous Prices (4/25 – 5/1):
- Vidor, TX: Light Iron, $100.00/ton
- Rockaway, NJ: Cast Iron, $0.09/lb.
- Kankakee, IL: Light Iron , $180.00/ton
- Athens, AL: Shreddable Steel, $180.00/ton
- Nampa, ID: Light Iron, $100.00/ton
- Amarillo, TX: Shreddable Steel, $80.00/ton
- Bellefontaine, OH: Light Iron, $185.00/ton
- Maple Grove, MN: Shreddable Steel, $120.00/ton
- Saskatoon, Saskatchewan*: Light Iron, $145.00/ton
Other Scrap Metal Markets
Overall the markets continue to be strong, we are very happy with where everything is and we think that going into the rest of the month we should see relatively stable pricing.
Please share with us any ideas, thoughts, or different market perspectives that you may have and we will give you all answers and opinions that we have as well.