Copper Hits $3.00, First Time Since 2018 – 8/19/20

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Boom!!!

It finally happened, we have seen copper prices on the trading side of the market rise to over $3.00 per pound for the first time since June 2018. With a long wait, we’re happy to see these markets come back, although it has been a very up-and-down couple of weeks considering the copper was over $0.22 lower less than two weeks ago. What does that mean? That shows that the market is an extreme volatility mode and it might be a good time to cash in especially if you have been holding material for a long period of time.

On top of that, we have conTinued to see the iron and steel market increasing as prices have gone up between $5 and $15 dollars per ton over the last few weeks. These are a bunch of really positive highlights that we hope to continue to see moving forward.

Quick Numbers

  • .00 – While the scrap prices are not there- today marks the first time since June 2018 that copper traded at or over .00
  • $2.25 – National average price per gallon for regular gas.
  • $10 – Increase on average of steel/iron over the last week.

Social Scrap from Our Facebook Group

It’s always nice to see the scrapper community help out a fellow newbie scrapper like Joe C asking for opinions on how to scrap and what to look for. As a scrapper community, we are always looking to make the most money we can, but not being in the same area means that we have the ability to teach others and that is a good thing. It’s been said the secret to success is to help others thrive, whether they are your competition or not.

Suggested Reading: How To Grow Your Scrap Business

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Non-Ferrous Market News

Copper Is Up!

Enjoy this. Copper prices have increased to highs that have not been seen since June 2018. Mic drop. Let’s just pause and enjoy that for a couple of minutes before we start trying to speculate on when the market will increase or could increase more. Sometimes increases in prices like we are seeing right now is more indicative of a positive trend and we recommend you cash in as these prices are really at a very strong level.

Aluminum Is Quiet

The aluminum markets have been very calm lately if not a little stale as tariffs have been put back into place and we have seen the markets not reacting positively to this. On top of that, we have continued to see the markets on the defensive as people are not sure what’s going to happen with the election and where the aluminum prices will go.

Reported Non-Ferrous Scrap Prices (8/11 -8/19):

Location

Material

Price

Warren, MI Aluminum Siding $0.28 / lb
Rockaway, NJ #1 Bare Bright Copper Wire $2.58 / lb
Fort Worth, TX Brass $1.35 / lb
Hibbings, MN AL Extrusion $0.40 / lb
Huntsville, AL Car/Truck Batteries $0.18 / lb
Montclair, CA Sealed Units $0.08 / lb
Penrose, CO Aluminum Cans $0.16 / lb
Tulsa, OK Cast Aluminum $0.22 / lb
Columbus, GA Clean ACR $1.14 / lb
Carrollton, PA #2 Copper Tubing $2.20 / lb
Delmar, DE #1 Copper Tubing $2.30 / lb
Richmond, VA Stainless Steel $0.20 / lb
CHECK CURRENT PRICES

Ferrous Market News

Sometimes not asking questions is more valuable than asking questions. As we have seen the pricing of steel increase along with most other metals recently and it has been a very welcome sight to see. On top of that, not only have the heavier grades of steel gone up in pricing, lower grades have continued and that shows more signs of an economic recovery than anything else. We hope that this trend continues and we can keep talking about this further down the road, as the market recovers and hopefully stabilizes, as well as increasing.

Reported Ferrous Scrap Prices (8/11 -8/19):

Location

Material

Price

Council Bluffs, IA Light Iron $125 /ton
Vidalia, LA Shreddable Steel $85 /ton
Independence, IA Tin $45 /ton
Decatur, AL Unprepared Cast Iron $4.00 /CW
Norfolk, NE Shreddable Steel $50 /ton
Colorado Springs, CO Light Iron $40 /ton
Miami, FL Shreddable Steel $140 /ton
Kansas City, KS #2 Prepared $85 /ton
Portland, TN Light Iron $70 /ton
Greensburg, PA Sheet Metal $4.50 /CW
Odessa, TX Tin $70 /ton
CHECK CURRENT PRICES

Other Metal Markets

Gold prices have remained over ,000 per ounce although we did see a decrease last week but have seen that uptick over the last few days. We’re hoping to see these prices continue to stay stable but overall we are watching them because large increases in gold could mean a lack of confidence in the market and that could lead to further market drops which we would not like to see happening.

Catalytic Converter Market News

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The rhodium market has been leading the way over the last few days with prices increasing and approaching record highs. We are seeing some of the market prices approach $12,000 per ounce which is about 10% off from the records that we saw earlier this year. The team at www.RRCats.com is continuing to move catalytic converters and quote them for people through pictures and through serial numbers and we look forward to the opportunity to buy your cats and earn your business.

Scrap Catalytic Converter Prices This Week (8/11 -8/19):

Cat Type/Serial Number

Price

EA6 $358/@
GD3 $562 /@
JSH62 $296/ @
12606389 $319 /@
25130440 $221/ @
Small Foreign $101/ @
Regular Domestic $201 @

Thank You.

Seeing copper and steel jumping is extremely uplifting and we are hoping to see this trend continue as we get further and further into 2020 and as more manufacturing picks up and the economy continues to rebound. We would love to hear from you and find out more of what you want us to talk about so we can keep putting more content out there for you. Scrap ya later!

– Tom


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