5/4/16 Scrap Price Update: Steel Continues To Climb

Steel prices climbing in scrapHey iScrappers!

ACRoss the last week we have seen all types of things going on with the markets and the oil prices have been leading the cause for so many prices flopping all over the place. The energy market has affected the overall commodities market and we have seen copper prices fall about 6-9 cents the last few days and there might be a another drop coming.

Copper Markets

In the last week (especially the beginning of this week), we have seen the prices drop down around $0.10 per lb. and that is an impact that you will immediately see in the markets at your local yards. Across the US and Canada we have seen so many prices getTing listed that we have almost been overwhelmed but are so happy that scrappers are helping out other scrappers!

Those oil prices declining are going to affect many of the copper and Brass prices across the US and that should not be a surprise. With the rising gas prices the last few weeks we also saw copper jump at the same time.

Here are some of the copper prices posted over the last week:

  • Wayne, MI: #2 copper tubing, $1.50 (5/3/16)
  • Cincinnati, OH: #1 Bare Bright, $1.10 (5/2/16)
  • Concord, NC: ACR, $0.76 per lb (5/2/16)
  • Sarasota, FL: Bare Bright, $1.85 per lb (5/1/16)

Steel/Iron Markets

With the copper prices falling…we have seen some hope with the steel and iron markets. It is great to see the extreme recovery of steel prices this year. In the first 4 months we have seen the prices more then double in many areas and hopefully this trend will continue.

Here are some of the steel and iron prices over the last week:

  • Bend, IN: Steel, $79 per ton (5/4/16)
  • Romulus, MI: Sheet Iron, $65 per ton (5/3/16)
  • Inkster, MI: Sheet Iron, $100 per ton (5/2/16)
  • Muskegon, MI: Automobiles, $140 per ton (5/3/16)
  • Rochester, NY: #1 HMS, $188 per ton (5/1/16)
  • Hornell, NY: Tin, $0.07 per lb. (4/30/16)

With so many prices being posted we are excited to see scrappers sharing with other scrappers. Now figuring out where the market is and hopefully starting to develop trends will really pan out.

Scrap ya later!

National Average Scrap Prices (As of 5/4/16):

  • Bare Bright Copper: $1.60-$1.85
  • Copper Pipe: $1.40-$1.75
  • Clean Brass: $0.85-$1.15
  • Insulated Copper: $0.40-$1.20
  • 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

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