6/8/16 Scrap Price Update: Copper Takes More Hits

weekly scrap price updateHey iScrappers!

We hope that you have been checking out all of the prices that are getting posted across the US and Canada and have been able to see where the markets are and what they have been doing. The entire market seems to be a little crazy right now and we have seen a lot of backtracking with some of the pricing so let’s go into that right now.

Non-Ferrous Spotlight

Copper has taken a hit over the last week with prices falling $0.07-$0.10 per lb. The market has a lot of uneasiness on what is going on and where it could be headed and we want to make sure that we are letting you know that ahead of time. While it has rebounded a few cents since dropping about $0.08 per pound one day….it does not look to ready for a fast rebound anytime soon.

Reported Non-Ferrous Scrap Metal Prices:

  • Norfolk, VA: Dirty Brass, $0.30 per lb (6/7/16)
  • Norfolk, VA: Clean ACRs, $0.85 per lb (6/7/16)
  • Muskegon, MI: Electric Motors, $0.13 per lb (6/4/16)
  • Muskegon, MI: Ins. Copper Wire, $0.60 per lb (6/4/16)
  • Weldon, IA: Bare Bright, $1.40 per lb, (6/3/16)
  • Rochester, NY: Sealed Units, $0.13 per lb. (6/2/16)
  • Byhalia, MS: Brass, $1.00 per lb, (6/2/16)
  • Metairie, LA: 750 MCM Cable, $1.29 per lb (6/1/16)

Ferrous Spotlight

Steel has really gotten hammered over the last week with the prices going down $20-40 per ton. With a low demand across the world right now the steel prices sound like they are going to be on a decline for a little while. We talked to a few industry specialists who think that steel will be decreasing again towards the middle of June.

Reported Ferrous Scrap Metal Prices:

  • Wolcott, CT: Light Iron, $78 per ton (6/7/16)
  • Fontana, CA: Water Heaters, $37 per ton (6/7/16)
  • Wichita, KS: Car Scrap, $120 per ton (6/7/16)
  • Norfolk, VA: Heavy Iron, $0.0525 per lb (6/6/16)
  • Rochester, NY: Light Iron, $147 per ton (6/4/16)
  • Winston- Salem, NC: Water Heaters, $100 per ton (6/3/16)
  • Weldon, IA: Light Iron, $50 per ton (6/2/16)

Across the country we have seen the prices dipping after they had a nice rebound for a 2 months stretch. The market is very volatile right now and we want you to make sure that you are posting the prices that you get and check in to see prices that others have received in the area.

Until next time iScrappers, scrap ya later.

Scrap Price Averages in the US (As of 6/8/16):

  • 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: $65-$95 per ton

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