Copper Hasn’t Moved…Yet – 10/9/19

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Who’s ready for tariff talk round 75,753!!!

Here we are on the eve of the tariff negotiations, beginning to start again between the United States and China. With so many political tensions rising up both in China and Hong Kong and domestically in the United States, we are very interested to see how all of these play out.

With the copper and the aluminum markets being in a bit of a tumble lately, we have been looking for some type of life and we are hoping that it comes into fruition, in the next few days with these trade negotiations. We are not overly optimistic, as many pieces of news that have come out have supported, but this is going to be a long-winded process.  The fact that the top negotiators, both for the US and the Chinese will be meeting together is a positive piece of information.

Quick Numbers

  • $0.00 – The amount copper has changed over the last week, it is a non-mover recently.
  • 1 Day – Until the US and Chinese meet in Washington D.C. to go over trade discussions.
  • $20 Per Ton – The amount per ton that steel is going down again this month.

Social Scrap from Our Facebook Group

We love seeing fun and positive stories – and this one is one of the best scrap stories we have seen in a while. Scrapper Greg. C talked about all of the things that he has gotten in scrap before and put out for resale at a scrap garage sale...love it!

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Non-Ferrous Market News

Copper Hasn’t Moved

Who wants to talk about the good, the bad and the ugly? The good- the market has not gone down in the last week. The bad-the market has not gone up in the last week. The overall market seems to be playing ping-pong going back-and-forth and there is no real winner as these markets continue to move in all types of directions.

With the aluminum prices dropping down to what seems to be 10-year lows, we have also seen copper at multi-unit lows and with very little positive news, we do not expect either of these to change; as the tariffs have greatly affected the scrap metal market in 2018 and now in almost all of 2019. Going forward, we hope to see an increase in 2020, as of now we do not expect one but we are optimistic that we will not see a further decline like the steel market has seen  

Reported Non-Ferrous Scrap Prices (10/2 – 10/8):

Location

Material

Price

Deridder, LA Aluminum Cans $0.28 / lb
Rockaway, NJ #1 Bare Bright Copper Wire $2.20 / lb
Addison, IL Aluminum Scrap $0.23 / lb
La Crosse, KS Romex® Wire $1.00 / lb
Albuquerque, NM Brass $1.00 / lb
Deerfield Beach, FL #1 Copper Tubing $1.90 / lb
Snyder, TX #2 Copper Tubing $1.80 / lb
Redwood Falls, MN Insulated Copper Wire $0.50 / lb
Greenbay, WI Low-Grade Boards $0.08 / lb
Seattle, WA Aluminum Rims $0.38 / lb
Phoenix, AZ Inconel 800 $1.30 / lb
Bremen, GA Stainless Steel $0.31 / lb
Manitoba, Winnipeg* #1 Copper Tubing $1.99 / lb
CHECK CURRENT PRICES

Ferrous Market News

Steel Doesn’t Look Too Good

This market is…well, ugly. There is not another way to say that, this is a tough time in the market and it does not seem to be getting better. The tariffs have really hurt the scrap world and while the long-term opportunity will be good, the short-term is in really bad shape and not improving. 

The good news? Well the US has signed a trade deal with the Japanese and that could put a little pressure on the Chinese.  We have to hope that is some type of bargaining chip for the trade talks. 

Reported Ferrous Scrap Prices (10/2 – 10/8):

Location

Material

Price

Stanton, TN #1 Steel $80 /ton
Indianapolis, IN Complete Car $105 /ton
Waxahachie, TX Scrap Iron $0.015 /lb
Hawesville, KY Shreddable Steel $55 /ton
Eldon, MO Cast Iron $50 /ton
Wittemore, MI  Complete Car $65 /ton
Steubenville, OH #1 Steel $50 /ton
Slidell, LA Shreddable Steel $70 /ton
Palmdale, CA Cast Iron $60 /ton
Englewood, CO Automobiles $75 /ton
Manassas, VA Light Iron $40 /ton
CHECK CURRENT PRICES

Other Markets

While we sound like broken records, it still is the same old news day in and day out with these markets all over the place. While Stainless and Nickel have slightly increased, overall we have not seen too many great things happening in any part of the scrap metal world recently.

Thank You.

We look forward to hearing your responses as well as your opinions and different ideas on where you see the Scrap market going, in the meantime we will continue to report prices, provide news, give you opinions and try to give you some type of insight that others might not be able to, on what is going on in the Scrap world.

– Tom

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