8/2/17 Scrap Price Report: Copper Keeps Climbing

Scrappers….it’s like we have closed our eyes and woke up in scrap copper heaven!!!

WOWOWOW. What a week it has been. With copper near 3 years highs it is almost too crazy to believe that this is happening right now. We have seen copper and other associated metals have a crazy spike over the last week and scrap yards have been telling us that they seem to be getting more and more optimistic with the markets.



Non-Ferrous Markets

With copper leading the charge over the last month…why stop now? We have seen the red metals jumping to almost three year highs and because we have seen the markets stabilize we have been led to believe that this will continue for the foreseeable future. A lot of people have asked if we think that the markets will go up and unfortunately our copper crystal ball seems to be broken because many analysts earlier this year thought that the markets would be decreasing.

We have read a lot of articles about the aluminum and the car markets with many auto makers switching some of their pieces of framing and body work to aluminum panels opposed to the traditional steel paneling. While aluminum is more expensive to buy, it generally molds a little easier and because it is lighter, it is helping to increase fuel efficiency in many of the cars.

Here Are Some Reported Copper, Aluminum, & Brass Prices From 7/25-8/1

  • Rockaway, NJ: Bare Bright- $2.61 per lb.
  • Rockaway, NJ: Insulated Wire- $0.81 per lb.
  • Ogden, UT: Aluminum Cans, $0.48 per lb.
  • Land O’ Lakes, FL: Brass, $1.46 per lb.
  • Land O’ Lakes, FL: Aluminum Siding, $0.40 per lb
  • Providence, KY: Stainless, $0.30 per lb.
  • Santa Fe, NM: Brass, $1.57 per lb.
  • Santa Fe, NM: Bare Bright, $2.40 per lb.
  • Belleville, IN: Insulated Wire, $0.80 per lb.
  • Waukesha, WI: Aluminum Cans, $0.50 per lb.
  • Williston, ND: Yellow Brass, $0.85 per lb.
  • Oklahoma City, OK: Bare Bright, $2.40 per lb.



Ferrous Markets

With the global steel market looking to really shape up we have seen steel prices accelerating over the last month and a half. With some of the increase coming from the non-ferrous markets growing in price, we are happy to see that steel has also risen and has really been in a good spot.

With the steel prices rising, we saw an average of $5 per ton of an increase across the US.

Here Are Some Reported Steel & Iron Prices From 7/25-8/1

  • Ogden, UT: Shreddable Steel- $60 per ton
  • Salt Lake City, UT: Torching, $80 per ton.
  • Providence, KY: Shreddable Steel, $110 per ton
  • Tooele, UT: Light Iron, $80 per ton
  • Newark, NJ: Uppd #1, $145 per ton
  • Belleville, IN: Light Iron, $165 per ton
  • Jacksonville, FL: Light Iron, $70 per ton

In all of the other markets we have seen real great growth, and it seems that the flow of materials into scrap yards, mills, and to the export markets has really taken a big leap. With all of these markets going strong, coupled with the stock market hitting 22,000 points and being up 20% since President Trump was elected, we have seen a lot of positive things happening.

Scrap ya later!

-Tom

 


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