Copper Is Tricking & Steel Is Treating – 10/31/18

Happy Halloween Scrappers!

We hope that we have not scared you off with some of these prices lately, but what has been spooking us is how steel continues to climb. It’s almost too good to be true the way that these steel prices have been going and it has been really nice to see. 

We have been reading the comments at the bottom of each video, continuing to do research and anything big we have tried to push your way.

SUBSCRIBE ON YOUTUBE

What’s Shaking In Scrap Nation

We have been watching the chatter in our Facebook group and one of the hot topics has been, “How do you know if a scrap yard is treating you fairly?” As President Nixon once famously coined, “Trust, but Verify.” That seems to be one of the most common ones that we have out there (and have had for years). Here are some quick tips.

  • Are you comfortable?
  • Do they teach you about material and help sort?
  • How are the prices?

With over 30 comments in the first three hours it shows that this is a topic that people care about.

JOIN OUR FACEBOOK GROUP

Suggested Reading: Finding The Best Scrap Yard


Non-Ferrous Markets

With copper inventories falling one would think that we would see an increase in the copper prices while the opposite has been held true. We have seen copper fall about 11 cents over the last week and those markets have affected all of the reported prices that we have seen online. 

These prices have hit and hit hard with aluminum showing little signs of recovery on the scrap side of things.

Reported Non-Ferrous Scrap Prices (10/24 – 10/30):

Location

Material

Price

Covington, GA Old Sheet Aluminum $0.30 per lb.
Rockaway, NJ #1 Bare Bright Copper Wire $2.45 per lb.
Elizabethtown, KY Painted Aluminum $0.30 per lb.
Grand Falls, Newfoundland and Labrador* Ballasts $0.05 per lb.
Huntsville, TX Insulated Copper Cable $0.90 per lb.
Panama City, FL AL Extrusion $0.60 per lb.
Hattiesburg, MS Car/Truck Batteries $0.24 per lb.
Navarre, OH Christmas Light $0.01 per lb.
Tampa, FL Sheet Aluminum $0.22 per lb.
Anchorage, AK #1 Bare Bright Copper Wire $2.20 per lb.
Seattle, WA Aluminum Thermo-Pane/Break $0.28 per lb.
Hanson, MA Electric Motors $0.07 per lb.
Brunswick, GA #2/3 Mixed Copper $2.00 per lb.
CHECK CURRENT PRICES

Other Market News

  • Gas prices – Have gone down 19 days in a row on average across the US. What does that mean? Well, cheaper gas is going to make it more profitable to be on the road picking up scrap and that is one of the good things that we have seen. 
  • Oil prices –  Dropping even more and hopefully, that will extend to the market moving in a downward trend for the Fall and Winter.
  • Stock Markets – After a rough week last week we have seen the stock market go negative for 2018. Many think that this is a market correction while some think that this is just traders taking profits from the last few months. 

Ferrous Market News

With steel being the brightest spot in the markets the last few weeks we have continued to see that trend continue to climb. With a lot of news coming out of China about tightening emissions laws getting much stricter, we will see more and more clarity coming into perspective. 

This may mean that mills and steel producers are looking to pull more scrap materials into their operations instead of relying more and more on raw iron ore from mining operations. This will put more emphasis on scrap going into all mills throughout the world and could potentially increase scrap prices $50-75 per ton next year multiple people told me over the last month.

Reported Ferrous Scrap Prices (10/24 – 10/30):

Location

Material

Price

Milan, IL Shreddable Steel $135/ton
Prattville, AL Light Iron $140/ton
Elizabethtown, KY Shreddable Steel $110/ton
Morrilton, AR Light Iron $100/ton
Monroeville, AL Shreddable Steel $140/ton
Wilmington, DE #1 Steel $175/ton
Farmingdale, NY Light Iron $160/ton
Portland, OR Lead Shot $0.22/lb.
Stanley, VA Shreddable Steel $100/ton
South Amboy, NJ #1 Steel $100/ton
Miami, FL Shreddable Steel $40/ton
CHECK CURRENT PRICES

What did you sell your scrap steel for this week? Let other scrappers know by posting your prices!

Scrap Photo Of The Week

Here is our favorite picture we took at the scrap yard this week, what’s yours? Email us back and we will feature the best one next week!

JOIN OUR FACEBOOK GROUP


Related Articles: