Hey iScrappers!!!!!!!!!!!!!!! (Extra ! in here for a reason!).
WOOOOOO HOOOOOOOOOOOO! Copper prices have passed two year highs. Let’s throw up our hands and start celebrating and really hope that this sticks. Over the last week what a rally we have seen in the red metals market. Let’s dive into all of the news that we have gotten and go from there!
Non-Ferrous Market Update
Over the last week we have seen so many good things that it is tough to keep up with. From copper jumping to aluminum rebounding and even nickel prices rising, we have seen a lot of good things. With copper markets at 2 year highs we are delighted to not only see the jump (the big jump happened on Tuesday 7/25), but to see the stabilization afterwards.
Aluminum has also taken a small lead forward with pricing up about a penny a pound overall from the market averages that you have shown us through the reported prices.
Here Are Some Reported Non-Ferrous Prices From 7/19-7/25:
- Rockaway, NJ: Bare Bright, $2.55 per lb.
- Staunton, VA: #1 Copper Tubing, $1.60/lb.
- Savannah, GA: Aluminum Siding, $0.40/lb.
- New Castle, IN: Stainless Steel, $0.24/lb.
- Port Huron, MI: Insulated Copper Wire, $0.45/lb.
- Pittsburgh, PA: Aluminum Cans, $0.50/lb.
Ferrous Market Update
With copper and other non-ferrous markets increasing, we have seen steel prices following suit. Over the last few years when rallies have happened they seem to affect the entire markets which is what we have been seeing over the last two weeks.
Steel and iron averages are up again about $7-11 per ton from the averages that we have seen over the last week compared to the week prior.
Here Are Some Reported Ferrous Prices From 7/19-7/25:
- Rockaway, NJ: Light Iron, $100/ton
- Port Huron, MI: Shreddable Steel, $90/ton
- New Castle, IN: Light Iron, $100/ton
Other Market Information
Gold has continued to have its middle ground numbers being in the $1250 per ounce range, and the nickel market which affects stainless has also gotten much stronger over the last few weeks as well.
Any questions on materials that we did not cover today? Let us know and we will get you any and all answers that we can.
Don’t forget that we have the new iScrap App coming for the iPhone soon and then the Droid platforms to follow.
Scrappppppp ya later!