5/31/17 Scrap Price Update: Where Are Steel Prices Going?

What a blasé week that it has been scrappers! We hope that you were out there scrapping some old grills, enjoying some burgers and hot dogs and saluting and remembering all of the fallen soldiers that we have had protecting the USA since 1776.


Non-Ferrous Metals Market

Prices have been  relatively stable overall other then the nickel market falling over the last few weeks. We have seen the copper prices remain at the same levels that they were a week ago, and with that we have seen most prices over the last week stabilized. Aluminum continues to be strong with the markets increasing another 1-2 cents per lb.

Copper overall has been very stable but we have heard that there has been rumblings about the market going down coming into June, so we have to be on the lookout for that to happen. If you still plan on saving your material we suggest selling part of your inventory now so you protect yourselves…

Reported Prices For Non-Ferrous

  • Alliance, OH: Batteries, $0.15 per lb (5/31)
  • Council Bluffs, IA: Aluminum Siding, $0.59 per lb (5/30)
  • Laurel, MS: Bare Bright, $1.92 per lb (5/30)
  • Aluminum Scrap, $0.43 per lb (5/30)
  • Rochester, NY: Yellow Brass, $1.37 per lb (5/29)
  • Spanish Fork, UT: Bare Bright, $1.85 per lb (5/29)
  • Fayette, AL: #2 Tubing, $1.60 per lb (5/28)
  • Hattiesburg, MS: Car Batteries, $0.34 per lb (5/27)
  • Tampa, FL: #2 Tubing, $2.00 per lb (5/26)


Ferrous Pricing Update

With the markets staying steady over the last week for steel, we have seen little to no change on average for the markets. The steel markets have been relatively unchanged and with not too much news other then summer shut downs for some of the mills in different parts of the country for maintenance and for having machinery taken care of.

Overall the markets still remain strong and with that we have seen nothing but positive scrap flow coming into the overall markets.

Reported Prices For Ferrous

  • Rochester, NY: Light Iron, $155 per to (5/30)
  • Burley, ID: #2 HMS, $70 per ton (5/30)
  • Punta Gorda, FL: Cars, $0.05 per lb (5/28)
  • Newark, NJ: Light Iron, $150 per ton (5/27)


Precious Metals Market

Gold prices are down a few dollars per ounce over the last week, but nothing too crazy considering where some of the stock markets have been going. Generally with the markets being so strong you will often see the pricing on gold weaken, but here we have seen a nice trend overall and that will continue to lead to strong electronic pricing.

As we mentioned in the opening paragraph, the nickel prices have taken a hit and because of that we have seen all levels of stainless steel go down right now. With the overall markets being strong overall we are really happy to hear so many people doing so many good things and that has proven to see the scrap across the US and Canada moving well.

Until next week, scrapppp ya later!

-Tom


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