War Leading the Markets
With the markets returning to levels that we saw three weeks ago before the Ukrainian war started, we have seen prices return across the board except on the steel front. We have seen copper prices drop down almost $0.60 per pound from their peak, and overall we are not upset with where the market prices are.
Many world events will trigger a domino effect on commodities markets, and this is precisely what we have been seeing over the last few weeks. Regardless of how stable the US economy is, the US economy still has to depend on the world economy for a better idea and focus moving forward. These are some of the issues that we are looking at regarding foreign wars and how they can creep into prices from copper to oil.
Copper – SELL
Aluminum – SELL
Brass – SELL
Copper Wire – HOLD
Stainless Steel – SELL
Non-Ferrous Price Chart of the Week
#1 Steel –SELL
Shreddable Steel – SELL
Light Iron –SELL
Cast Iron – SELL
Complete Car – SELL
Not completely surprising, but we have started to see the pricing on steel and iron drastically increasing over the last month. We have now seen the prices increasing about $60-$70 per ton overall, and these markets could see a further uptick come April. But with the price of oil and gas starting to reseed, we will not be surprised to see these prices also decreasing in May and June. While the demand is there for the iron markets, the runner-up was unexpected and will cause large companies to flood the market with prices this high.
Ferrous Price Chart of the Week
Catalytic Converter Prices & Market Status
Catalytic Converters – SELL
With Palladium, Rhodium, and Platinum prices having seen drastic decreases over the last two weeks, we have begun to see the markets retreating from the crazy run-up that we saw a few weeks ago. Those markets went crazy because the supply of Palladium (see chart below) out of Russia became a real consumer problem because of how semiconductors and the catalytic converter industries.
We saw a pullback in the markets recently. The RRCats.com Team has watched these markets closely and quoting with current markets. We have seen many buyers dropping out of the markets during abnormal conditions like we are seeing now. That’s something significant to keep in mind when you look for stability.
We have a couple of videos and podcasts that feature interviews with family inside the scrap business and scrappers. If you’re looking to be featured, interviewed, or even interview any of the people at iScrap, let us know so we can get it together.
Other Valuable Resources
- Should I HOLD or SELL in Volatile Markets?
- Top 9 Industries That Affect Scrap Metal Markets & Prices
- Selling Your Catalytic Converter for the Most Money