With so many things going on in the country our prayers continue to go out to the people in the Gulf Coast and Houston as well as for the upcoming storm in Florida. Please be safe and careful.
With the markets continuing to charge ahead, we have seen more prices then EVER being reported and have heard from so many people about how happy that they are to learn the scrap prices and what is going on with them all over the place.
Markets seem to be aggressively increasing with copper prices at super high prices, and we have seen more and more material flowing into scrap yards and because of that we have seen scrap yards busier then they have been over the last two years
With gas prices higher, the problems with refineries across the South happening, and even more problems overseas with Chinese importing…it will be very interesting to see what happens going forward.
Non-Ferrous Market Update
Copper prices continue to be aggressive with the markets accelerating and really going up all across the US and Canada. Some news that we have heard that will be concerning is about the Chinese import markets and how they are handling things.
Reported Non-Ferrous Prices From 8/30-9/6:
- Rockaway, NJ: Bare Bright, $2.71 per lb.
- South Windsor, CT: #2 Copper, $1.75 per lb.
- Orem, UT: Bare Bright, $2.30 per lb.
- Hutchinson, KS: Prepared AL: $0.34 per lb.
- Rogers, AR: #2 Tubing, $0.90 per lb.
- Daytona Beach, FL: Aluminum Cans, $0.45 per lb.
- Georgetown, DE: Brass, $1.20 per lb.
- Warren, NH: Stainless Steel, $0.14 per lb.
- Warren, NH: #1 Tubing, $1.17 per lb.
Ferrous Market Update
Steel markets have continued to be strong and Light Iron prices have risen another per ton through our reported prices that we have seen listed. Steel has gone up and in turn we have seen fuel prices continue to increase. One scrapper asked us about how the two hurricanes will affect the scrap price and the answer is yet to be seen.
Some are predicting over 150,000 cars are going to be destroyed from Hurricanes Harvey and Irma and that will flood the light iron market in the Southeast of the US and it is yet to be seen how that will affect the market once insurance agents start to release totaled/flooded cars to be scrapped.
Reported Ferrous Prices From 8/30-9/6:
- Ontario, Canada: Scrap Iron, $155 per ton
- Sikeston, MO: #1 Prepared, $175 per ton
- Mountain Home, ID: Shreddable Steel, $50 per ton
- Georgetown, DE: Light Iron, $90 per ton
- Spartanburg, SC: Light Iron, $100 per ton
- Oceanside, NY: Light Iron, $100 per ton
Markets overall have been strong and that has led to gold prices increasing to over $1350 per ounce…WOWZA!
The problem continues to be the exporting market and with the Chinese markets so tied up right now we are going to have a problem with many exporting items and things being shipped out of the country.
Any questions, ideas, or thoughts on other materials please let us know.