Copper Rallies After Loss, Steel Drops – 8/22/18

Scrappers!!!

Good day to all and we hope that you are doing well! Start the drum roll please…on Monday morning we will have a brand new website coming out that will give you more information on scrap prices, market news, resources to learn about, and overall scrap knowledge.

Our New Website Is About To Launch!

While we have had this delayed a bit- we believe that good things can be worth the wait and we are excited to show you what we have been working on!

The overall scrap market has settled down after the chaos that we saw last week. We have seen copper prices rise $0.07/lb, but the overall steel market has been in decline. With continued intentions coming with the country of Turkey as well as concerns with the overall trade Picture, we continue to see prices fluctuate.

 

Quick Stats

  • 3,453 Days of a Bull Market…that is how long since the 2008 recession hit and how much of a positive run that the stock market has seen. (Too bad metals have had several rough patches in that time)
  • Steel Dropping Quickly – $20 per ton down
  • 1-Year Lows – Copper hit 1-year lows last week but has rebounded so far.

Scrap Story from Sweden

One of our long-time scrappers from overseas, Peder in Sweden, recently let us know about the markets by him with all of these trade issues going on. He said that his scrap yard slashed prices by more than 50% on copper and brass recently and the ends do not seem near…our scrapping hearts go out to you.

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Non-Ferrous Markets

Copper got hit with a large rock from multiple negative news stories last week hitting one-year lows but has since rebounded over the last days. Many people call copper one of the leading indicators of the market in many cannot figure out how it is been all over the map. With trade concerns with Chinese, Europe, Middle Eastern countries, and really most countries throughout the world right now we are waiting to see what happens.

Copper has always been a global industry and many people attribute a positive market to the copper price. Recently, this has come into question as the economy continues to drive upwards, copper has continued to spiral downwards. One of the real reasons that we have seen copper pulling back is largely due to the Chinese/US governments have had multiple head-to-head battles. Today the US and the Chinese are starting another round of talks in Washington DC, but most people do not feel that much will come out of this.

The positive side is that at least there are talks going on where for 4 months there was only bickering, and negative talks between both countries.

Reported Non-Ferrous scrap prices (8/15-8/21):

Location

Material

Price

Iowa City, IA 304 Stainless Steel $0.30/lb.
Rockaway, NJ #1 Bare Bright Copper Wire $2.40/lb.
Columbus, GA Aluminum Copper Coil $0.33/lb.
Bluefield, WV #1 Bare Bright Copper Wire $2.15/lb.
Medford, NY Brass $1.15/lb.
Lawrenceville, GA Aluminum Radiators $0.18/lb.
Gallipolis, OH #2/3 Mixed Copper $2.00/lb.
Peoria, IL #2 copper tubing $1.84/lb.
Rogersville, AL Aluminum Copper Radiators $1.00/lb.
Doraville, GA Wiring Harness $0.70/lb.
Florence, AL aluminum siding $0.30/lb.
Berwick, ME Lead Batteries $0.22/lb.
Longview, TX AL/Copper Rads with Iron $0.80/lb.
Junction City, KY Sheet Aluminum $0.35/lb.
Naples, FL Communications Wire $0.35/lb.
Vincennes, IN Painted Aluminum $0.04/lb.

Ferrous Markets

The news out of Turkey continues to be the headline on why the steel prices are getting so depressed over the last week and a half. With the overall market getting pummeled in Turkey to both their currency and their trade issues, it has caused concern on the overall markets.

We have seen the oil prices have a relatively low impact lately as the trade tariffs and continued struggles of trade agreements have overtaken the markets.

Reported Ferrous scrap prices (8/15-8/21):

Location

Material

Price

Idaho Falls, ID Shreddable Steel $60/ton.
Hebron, IN Light Iron $165/ton
Gilette, WY Shreddable Steel $120/ton
Lisbon, NH Light Iron $0.03/lb.
Beaver Falls, PA Shreddable Steel $105/ton
Aurora, IL Sheet Iron $140/ton
Russellville, AK #2 Heavy Melting Steel $9.00/cw
Doraville, GA Cast Iron $0.11/lb.
Helena, MT Shreddable Steel $30/ton
Palm Bay, FL Light Iron $110/ton
Cedar City, UT Light Iron & Scrap Iron $0.01/lb.

Other Scrap Markets

Overall the markets have been mixed, but mostly down due to so many looming trade talk concerns. We are continuing to watch the prices, but with our new website next week you will have even more access to updated prices and other information.

Scrap ya later!


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