With oil prices down…we love having the price at the pump down, but ultimately we will see this hit happen with our steel prices taking a hit overall. We will see the prices start to decrease, and you couple the overall commodity markets with many of the political and other world problems and we will be anxious to see what happens.
Non-Ferrous Scrap Market Update
Last week we talked about the prices dropping over a few days..and unfortunately that did not stop. The markets have continued to fall since our update last week and we have seen them go down another $0.15 or so cents on the copper side of things.
The aluminum market has been relatively unchanged, which is a great thing, but we are still looking out for changes or news that may be coming soon. With the inventories being so low we should continue to see the aluminum prices stay at very strong levels.
Here Are Some Of the Reported Non-Ferrous Prices The Last Week:
- Syracuse, NY: Bare Bright, $2.10 per lb. (5/9)
- Syracuse, NY: Brass, $1.30 per lb (5/9)
- Santa Fe, NM: Stainless Steel, $0.30 per lb (5/9)
- Santa Fe, NM: Aluminum Cans, $0.55 per lb (5/9)
- Albuquerque, NM: Brass, $1.35 per lb (5/9)
- Vineland, NJ: Bare Bright, $1.90 per lb (5/9)
- Thorofare, NJ: Aluminum Siding, $0.30 per lb (5/9)
- Hainesport, NJ: Bare Bright, $2.08 per lb (5/9)
- Hainesport, NJ: Stainless, $0.28 per lb (5/9)
- Columbus, MI: Aluminum Siding, $0.40 per lb (5/9)
- Jackson, MS: Bare Bright, $2.05 per lb (5/9)
- Laurel, MS: #1 Tubing, 2.00 per lb (5/9)
- Stittsville, ON: Aluminum Cans, $0.47 per lb (5/8)**Prices in Canadian Dollars.
Ferrous Scrap Market Update
Steel has taken another $5-10 per ton hit overall, and we have seen many of the reported prices really getting hit over the last week with those drops being right in that range.
Iron ore prices have dropped…and with lower iron ore prices we will see the scrap prices get driven down as well, which will not be good in the coming months.
Here Are Some Of the Reported Scrap Steel Prices The Last Week:
- Albuquerque, NM, #1 Steel, $100 per ton (5/10)
- Vineland, NJ: Cast Iron, $75 per ton( 5/9)
- Columbus, MI: Shreddable Steel, $115 per ton (5/9)
- Jackson, MS: Cast Iron, $120 per ton (5/9)
Other Scrap Market Updates
Gold prices have dropped about $70 per ounce over the last few weeks, and platinum and palladium prices have dropped as well. With concerns about the interest rates in the coming weeks we have to be careful to watch and see what is going on moving forward with some of the precious metal prices.
Any other questions please let us know and we will get to them next week…scrapppppp ya later!