Good Day iScrappers!
We hope that you are staying busy, scrapping often, and have been updating your phones with the new iScrap App that is available on the iTunes and the Google Marketplace. We have spent a lot of time making sure that these would be providing you with more and better pricing than ever before and we are very proud of the finished product that is out there.
Now….to scrap. What questions do you have for us that we can help to answer? Some that we have gotten lately are talking about the Light Iron and the copper prices…most questions are asking about why the copper prices have taken such a hit the last week and a half…so let’s dive right into it.
Non-Ferrous Market Updates
Scrap copper took a large hit over the last week and a half with the market dropping about 18 cents from the highs that we saw at the end of August.
Aluminum has been on a tear with prices close to the 4-year highs that we hit recently. We have seen such a demand for aluminum in so many industries from the tech industry to the auto industry because of the strength, durability, and longevity of it.
Reported Non-Ferrous Prices During 9/13-9/19:
- Rockaway, NJ: Bare Bright, $2.62 per lb.
- Doraville, GA: Bare Bright, $2.50 per lb.
- Byrnesville, MO: Stainless Steel, $0.40 per lb.
- Burlington, NC: Brass Scrap, $1.50 per lb.
- Burlington, NC: aluminum siding, $0.40 per lb.
- Richmond, VA: #1 Tubing, $2.05 per lb.
- South Boston, MA: Computer Wire, $0.35 per lb.
- Brookhaven, MS: Aluminum Cans, $0.48 per lb
- Chicago, IL: Stainless Steel, $0.35 per lb.
Ferrous Market Updates
Steel prices are still at a very high level and we have seen that across the US and Canada with prices creeping up. As we have touched on over the last two weeks, the hurricanes are going to cause a massive influx of steel into the market so you should not be surprised to see the markets start to creep down especially for light goods and auto pricing.
Reported Ferrous Prices During 9/13-9/19:
- Rockaway, NJ: Light Iron, $110 per ton
- Richmond, VA: Light Iron, $80 per ton
- Newark, DE: #1 Unprepared, $165 per ton
- Renfrew, ON: Light Iron, $120 per ton (Canadian Dollars)
- Chicago, IL: Light Iron, $145 per ton
- Pompano Beach, FL: Shreddable Steel, $100 per ton
Other Market Updates
Gold is down about per ounce from the highs that we saw a couple of weeks ago, but prices are still over $1300 per ounce. We have seen aluminum prices increasing and the stainless market is finally picking up with stainless up about 3 cents per lb over the last month overall.
We have seen the areas in the country hit by the Hurricanes Irma and Harvey starting to clean up and those scrap yards have seen a large amount of light iron and cars starting to come into them…but it is still really tough overall with so much devastation going on and so much clean up left to go.
We urge you to donate to the Red Cross Hurricane Relief site as we did last week, even if it is only $5 to help out the people that have been so brutally hurt in those areas.