We hope that you are out there hustling it up and cashing it in because WOW what a scrap market it has been!!! We have been watching the scrap markets in depth the last week, and really talking to people in different industries to see what is going on and what they think is going to be happening in the whole metals market right now.
Non-Ferrous Metals Update
In the last week copper has gone up again, about a penny or two overall, but more importantly we saw the overall markets go up about $0.03 per pound on average through the reported prices that we have been seeing posted online by so many scrappers.
Copper continues its steady climb, and the market seems to be pointing to more of an increase going forward. With oil prices rising over the last two weeks and looking to continue to rise, we might be seeing a return to the prices that saw for a long time around 2010-2012…so let’s keep our fingers crossed and go from there. With oil prices rising we will see an increase at the gas pump and those increased energy costs will affect the drilling/mining/refining costs of the raw and the recycled metals.
Here Are Some Reported Prices During 8/2 – 8/8:
- Rockaway, NJ: Bare Bright, $2.61 per lb.
- Manly, IA: Siding, $0.30 per lb.
- Oceanside, NY: Bare Bright, $2.10 per lb.
- Oceanside, NY: Brass Scrap, $1.25 per lb.
- Glen Allen, VA: Brass, $0.80 per lb.
- Monett, MO: Stainless Steel, $0.10 per lb.
- Clarksville, TN: Brass, $1.52 per lb.
- Balch Springs, TX: #1 Tubing, $2.10 per lb.
- Florence, AL: Aluminum Cans, $0.55 per lb.
- Florence, AL: Insulated Wire, $0.75 per lb.
- Buford, GA: Aluminum Siding, $0.40 per lb.
- Cleveland, OH: Bare Bright, $2.25 per lb.
- Crystal Springs, MS: Aluminum Cans, $0.32 per lb
Ferrous Market Update
Steel prices have shot up over 25% since the beginning of May, and with so many positive growth factors going on we might be seeing these steel prices staying for a while. It seems that the infrastructure growth that is needed for the metal prices to continue to grow and stabilize are really starting to form.
We have seen some steel prices rise as much as $10 per ton over the last week across certain parts of the US and that is an awesome thing to see.
Here Are Some Reported Steel/Iron Prices During 8/2 – 8/8:
- Rockaway, NJ: Light Iron, $120 per ton
- Oceanside, NY: Light Iron, $80 per ton.
- Glen Allen, VA: Light Iron, $90 per ton
- Balch Springs, TX: Shreddable Steel, $110 per ton.
- Cleveland, OH: #1 Prepared, $165 per ton
- Chicago, IL: Uppd #1, $145 per ton
- Rochester, NY: Light Iron, $156 per ton.
Other Market News
With those oil prices rising we have seen the metals really reacting, but it is so much more then just the oil prices. People seem to be getting more and more optimistic, and then you couple that with the stock markets continuing to rise at record levels and you have to be impressed and hopeful as to what is going on.