Well in the last week we have seen a lot of movement in copper, unfortunately it has been downward. We saw the demand dipping very dramatically and the markets have been very down on the red metal.
Spotlight: Copper Prices Hit Hard
The red metal (our favorite!) has been hit hard this month with the prices dropping about 10% overall. With the market dropping about $0.23 total this month it is not the best of news for the copper market. The news does not seem to be too bright either as the prices have dropped in consecutive days.
Recent Scrap Copper Prices:
- Walpole, MA: Bare Bright Copper, $1.90 per lb (5/17/16)
- Ypsilanti, MI: Brass Scrap, $1.00 per lb (5/16/16)
- Kenner, LA: Electric Motors, $0.13 per lb (5/16/16)
- Redwood Falls, MN: #2 Copper, $1.49 per lb (5/15/16)
- Medford, NY: Insulated Copper Cable, $1.35 per lb (5/14/16)
- Jenkinsberg, GA: #1 Copper Flashing, $2.00 per lb (5/13/16)
Spotlight: Steel & Iron Prices Jumping, Still
Steel and Iron has been the most talked about group of metals this year with the prices more then doubling since the beginning of 2016. The last week did not disappoint with the market increasing another $3-7 per ton overall on average. With the iron ore prices across the globe going up along with the gas prices we are happy to see so many people reporting prices that make it worth while to scrap steel again.
Recent Scrap Steel & Iron Prices:
- Denver, CO: Cast Iron, $0.10 per lb (5/17/16)
- Rochester, NY: Light Iron, $165 per ton (5/16/16)
- Panama City, FL: Scrap Iron, $0.05 per lb (5/16/16)
- Redwood Falls, MN: Washing Machines, $85 per ton (5/15/16)
- Willmar, MN: Light Iron, $115 per ton (5/14/16)
- Rochester, NY: Cast Iron, $217 per ton (5/13/16)
- Landsdowne, PA: #1 Steel, $0.04 per lb (5/13/16)
Recent Aluminum Scrap Prices:
- Ypsilanti, MI: Sheet Aluminum, $0.32 per lb (5/17/16)
- Kenner, LA: Cast Aluminum, $0.32 per lb (5/16/16)
- Albuquerque, NM: Cast Aluminum, $0.35 per lb (5/13/16)
- Rochester, NY: Sheet Aluminum, $0.40 per lb (5/14/16)
Even though the markets are all over the place on different grades of material we still see positive pricing right now. With a lot of those steel prices increasing you should be able to cash in on your hard work and have a nice return. Don’t forget to post your prices online and let us know what else we can do.
Scrap ya later!
Current Scrap Prices Averages (As of 5/18/16):
- Bare Bright Copper: $1.45-$1.70
- Copper Pipe: $1.35-$1.65
- Clean Brass: $0.85-$1.10
- Insulated Copper: $0.40-$1.05
- Aluminum Sheet: $0.22-$0.31
- Stainless Steel: $0.20-$0.25
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $85-$105 per ton