Hello Scrap World!
We hope that everyone is staying busy and enjoying some of these higher copper and iron prices. With the prices increasing over the last few weeks, not only has it been nice to see it happening on the trading side of things but also in real life with reported prices coming in much higher over the last few weeks.
With copper prices increasing, we have been able to see the prices rising across the board and we love seeing these averages increasing. One of the concerns that we have is that with all of the extra money that was pumped into the economy through the different stimulus packages over the last few months, it has actually devalued the US dollar in comparison because there are now more dollars in the market which means that the pricing on copper could actually be artificially low, but as the pandemic continues we won’t have solid answers for a little while.
- $3.05 – Copper trading numbers hit over $3 again… a good problem to have.
- 3 Months – Manufacturing has grown 3 months in a row and that means more people are buying things and more scrap will be created both for replacement units as well as on the manufacturer’s side.
Social Scrap from Our Facebook Group
Wouldn’t you like to find a one hundred trillion dollars? Let’s write it out, $100,000,000,000,000, inside of some scrap? Well, this week iScrapper Schenck D. did exactly that. Now the second part of the story is that it was in Zimbabwe currency, but it will still cool to see nonetheless. Let us know what cool things that you have found in scrap and can share it with our scrapping community.
A lot of questions on the economy…
We talk to a lot of people about how the injection of money over the last seven months will affect the overall market and it’s hard to say what’s going to happen moving forward. By adding so much debt because of the pandemic, prices of everything might look to be the same but they are actually cheaper if you think about the amount of money that’s been injected into the economy. Not only has that been done in the United States, but in multiple economies around the world and that will change some of the numbers from what you see to what they actually are.
We have seen manufacturing increasing over the last three months and we have read multiple reports about China needing more copper because their manufacturing side has picked up so dramatically, but with export and import restrictions both domestically and internationally it has become a little harder to get copper shipped into China and that is part of the reason that we have seen the copper prices increasing.
Reported Non-Ferrous Scrap Prices (8/26 -9/1):
|Spokane, WA||17-4 Stainless Steel||$0.20 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.70 / lb|
|Spartanburg, SC||#1 Copper Tubing||$2.00 / lb|
|Sedalia, MO||Aluminum Copper Radiators||$0.98 / lb|
|St. Paul, MN||Sheet Aluminum||$0.18 / lb|
|Columbus, GA||Electric Motors (Copper)||$0.12 / lb|
|Amesbury, MA||Brass Scrap||$1.20 / lb|
|Hayward, CA||Cast Aluminum||$0.30 / lb|
|Chattanooga, TN||#2 Copper Tubing||$1.75 / lb|
|Pinson, AL||Car/Truck Batteries||$0.18 / lb|
|Racine, WI||Insulated Copper Wire||$0.40 / lb|
|Virginia Beach, VA||Motherboards||$1.00 / lb|
Steel Has Gone Up
Like we talked about with the copper prices increasing because export and import limitations have been put into place across the United States and quite frankly the world, we have also seen the pricing on iron and steel scrap going up over the last few weeks. With less material being exported due to the pandemic issues, we have seen material staying local. Many countries outside of the United States have relied on scrap from the United States and now that has been limited in multiple ways, we have seen some of the prices increasing because of the lack of exports.
Reported Ferrous Scrap Prices (8/26 -9/1):
|San Jose, CA||Light Iron||$85 /ton|
|Hardinsburg, KY||Shreddable Steel||$50 /ton|
|Eau Claire, WI||Complete Car||$60 /ton|
|Fitchburg, MA||Unprepared HMS||$107 /ton|
|Deerfield, FL||Light Iron||$120 /ton|
|Green Isle, MN||Shreddable Steel||$50 /ton|
|Holland, MI||Sheet Iron||$90 /ton|
|Bradford, PA||#1 HMS||$150 /ton|
|Hickory, NC||Shreddable Steel||$0.05 /lb.|
|Aberdeen, SD||Scrap Iron||$50 /ton|
|Akron, OH||Sheet Iron||$0.04 /lb.|
Other Metal Markets
Wait Is…ALUMINUM Going Up?
Maybe some of the tariffs did work. We have seen aluminum prices climbing $0.01-$0.03 per pound and that is a positive sign overall, as we have not seen much movement over the last few years. We will continue to monitor all of these prices as we have also seen the pricing on gold approaching $2,000 per ounce again. All of these will lead to different prices and different increases but as different markets move we continue to watch very closely.
Catalytic Converter Market News
Serial numbers. We’re not talking about cereal like what you eat, but we’re talking about sending serial numbers to the team at RRCats.com, for you to be able to get quick and efficient quotes. With the prices being very stable over the last week it’s been a positive thing to be able to see. We have been able to build the pricing models along with some of the prices that have been sent out, they are based on a very stable market which is been extremely appreciated and needed.
Scrap Catalytic Converter Prices This Week (8/26 -9/1):
Cat Type/Serial Number
|JSH62||$294 / @|
|Small Foreign||$101/ @|
|Regular Domestic||$199/ @|
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- Where Are Steel Prices This Week – 8/26/20
- How Low Steel Prices Affect Jobs
- 7 Common Types of Aluminum Scrap