Good Day iScrappers!
With the markets in a bit of tail spin we are doing this report a day after our video update, but nonetheless here we go! We have some news regarding copper markets this week getting hit hard with some drops and also price updates for other materials.
Non-Ferrous Scrap Markets
Copper has been hit very badly this week with prices dropping about $0.15 per lb. overall. This is a LARGE drop and very uncommon, and because of that most scrap yards will be forced to immediately drop their prices at the scale and you will see that change happen quickly.
With that happening we already started to see the prices that are being reported dropping very rapidly and that is a bit of scary sign of things to come. We have to watch these markets as well as the oil markets to see what is going to be happening going forward.
Reported Non-Ferrous Prices:
- Dodge City, KS: Stainless Steel, $0.25 per lb. (5/4)
- Dodge City, KS: Bare Bright, $1.80 per lb. (5/4)
- Axtell, KS: Aluminum Cans, $0.35 per lb. (5/4)
- Waterloo, IA: Brass, $1.57 per lb. (5/3)
- Parkersburg, WV: Bare Bright, $1.99 per lb. (5/4)
- Maryville, TN: #1 Tubing, $1.60 per lb. (5/3)
- Edmonton, AB: Bare Bright, $2.60 per lb. (5/2)***Canadian Dollars
- Davenport, IA: #1 Bare Bright, $2.36 per lb. (5/2)
- Vincesses, IN: #1 Tubing, $2.00 per lb. (5/2)
- Rockford, IL: Bare Bright, $1.80 per lb. (5/2)
- Peoria, IL: Aluminum Siding, $0.50 per lb. (5/2)
Ferrous Market Scrap Update
We have seen the steel market drop a little bit, but it does not look like any larger drops should be coming according to analysts. We have talked to a lot of people and they think that April was the month for the market to correct itself and that the prices that we see now are very strong.
Reported Ferrous Prices:
- Parkersburg, WV: #1 Steel, $60 per ton (5/5)
- Solvay, NY: Tin, $28 per ton (5/4)
- Davenport, IA: Shreddable Steel, $130 per ton (5/2)
- Vincesses, IN: Shreddable Steel, $100 per ton (5/2)
- Rochester, NY: Light Iron, $146 per ton (5/1)
Other Scrap Markets
Gold prices are down about $50 per ounce off of their latest highs, and we just want to continue to monitor those. The aluminum and nickel markets have remained steady and we are optimistic about that.
Any other questions please let us know, scrap ya later!