Should your HOLD or SELL?
For those of you that celebrate, we hope that your costumes will be scrap appropriate such as the tin man or anything that you found along with your scrap adventures. We would love to see your pictures from your Halloween event, so make sure you send them to us or tag us through social media.
With the 4th quarter up and running, we are watching the markets closely to see if we can get a 4th quarter bump in 2022. The needs are holding very steady, and we see the solid ground and increasing (steadily) on the steel side of things. An enormous buckle in this…oil and gas prices hurting the supply chains and refinement even more.
- 7 Year Highs – Aluminum prices are at seven-year highs and are very strong.
- $1 Trillion – As in the value of Tesla. Why does that matter to scrap? More electric cars mean greater long-term copper demand.
Copper – HOLD
Aluminum – SELL
Brass – SELL
Copper Wire – HOLD
Stainless Steel – SELL
A lot of people ask us for our advice on when you should hold or sell scrap. This new weekly segment will offer market trends and what other scrappers seem to be doing (along with iScrap’s ideas) into the HOLD or SELL. With copper still reeling from a crazy downward trend last week, you may want to hold for another week to see if the markets have an excellent rebound.
Non-Ferrous Price Chart of the Week
#1 Steel – SELL
Shreddable Steel – SELL
Light Iron – SELL
Cast Iron – HOLD
Complete Car – HOLD
While we always recommend moving material quickly, with the overall prices staying steady the last few weeks, we want to watch the markets moving forward. We do recommend most of the non-ferrous materials start to get moved while perhaps holding onto bare bright.
Ferrous Price Chart of the Week
Other Metal Markets
Batteries continue to be both the bain of the scrap industry right now. The lead-acid batteries are in a wrong spot with pricing where they are not following suit compared to other prices right now…and on the other side, we have lithium-based batteries from many of the hybrid cars or the pure-electric cars that give us the ability.
Catalytic Converter Prices & Market Status
Catalytic Converters – SELL
This week, the markets remain steady, which is an excellent sign after the last couple of weeks of up and down movement. We’re starting to look towards 2022 and figuring out where the markets will be going as mini copper mining operations are ramping up. The more mining operations ramping up could have bad news for the scrap market as more copper and other Metals will be coming out of the earth into production, which will lower the value of Scrap. I will continue to watch these trends and let you know what’s going on as always.
Other Valuable Resources
- Last Week’s Report: Copper Prices Rebounded Over $0.50/lb
- Common Electrician Scrap Metal Finds
- Top 15 Questions To Ask Before Your First Trip To The Scrap Yard