We hope that everyone is staying as healthy as possible, staying inside and staying home as often as they can. It looks like we’re in the fourth week of many people staying at home and it is one of the most strange and important things that we have ever done, even though we are all missing the scrap metal world.
The good news is we look to be returning to normal quicker and quicker as the days go on and hopefully everyone’s health continues to be at the forefront of their minds and we push through this as quickly as we can. Some positive news that we have seen is the copper markets have continued to steady and we have started to see the iron market picking up as well.
- $20 – Iron prices are up $20 per ton with multiple mini increases over the last week and a half.
- 50 – All 50 states have now had a National State of Emergency declared at the same time for the first time in history.
Social Scrap from Our Facebook Group
Hey we love hearing and seeing fun scrap stories like this one from iScrapper Dominic S. Seeing scrap is always one thing that makes us smile and it makes us happy, but seeing scrap repurposed for reuse alternatives is always cool to see.
We have seen the price of copper stabilizing over the last few weeks which is extremely positive. The problem that we’re now seeing is that while some scrap yards are reopening many people are still not working and there is not a lot of material out there. One thing that we have heard from multiple scrappers is that with so many people staying at home, there have been a lot of house cleanouts which means that there have been a lot of piles out on the street that normally would not be there as people are at home cleaning.
Suggested Reading: How To Grow Your Scrap Business
With a copper market remaining strong we have looked towards the other markets and they have had very little movement. Stainless and aluminum have barely moved over the last few months and that remains constant.
Reported Non-Ferrous Scrap Prices (4/08 – 4/14):
|Las Vegas, NV||Aluminum Cans||$0.10 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$1.90 / lb|
|Kapolei Island, HI||#2 Copper Tubing||$0.93 / lb|
|St. Paul. MN||Low Grade Boards||$0.10 / lb|
|Sacramento, CA||Steel Case Batteries||$0.19 / lb|
|Newark, DE||Sheet Aluminum||$0.18 / lb|
|Las Vegas, NV||#2 Copper Tubing||$1.20 / lb|
|Duluth, MN||Aluminum Cans||$0.11 / lb|
|Johnston, RI||#1 Bare Bright Copper Wire||$2.00 / lb|
|Youngstown, OH||Brass Shells||$0.65 / lb|
|Hampton, NH||Insulated Copper Wire||$0.35 / lb|
|Albany, NY||500/750 Insulated Cable||$1.23 / lb|
With the oil prices recovering slightly we have started to see an uptick in the iron market. We have seen steel prices jump about $20 per ton over multiple small increases in the last week and a half. While it’s a very small increase compared to a large decrease that we saw, it’s still better than having a further decrease in the market. Hopefully, it’s beginning signs of things improving and really picking up.
Suggested Reading: Why Do Oil Prices Affect Scrap Prices?
One issue that we have heard about is that scrap yards are having a hard time shipping material out as the export market has dried up and multiple furnaces inside of the US have an abundance of materials and are also running at a much slower pace.
Reported Ferrous Scrap Prices (4/08 – 4/14):
|Waco, TX||Tin||$2.75 /CW|
|Mandan, ND||Scrap Iron||$90 /ton|
|Vineland, NJ||#1 HMS||$60 /ton|
|Phoenix, AZ||Sheet Iron||$70 /ton|
|St. Joe, MO||Shreddable Steel||$35 /ton|
|Grand Rapids, MI||Scrap Iron||$0.025 /lb|
|Sacramento, CA||Light Iron||$50 /ton|
|Northwood, NH||Shreddable Steel||$45 /ton|
|Sioux City, IA||Complete Car||$50 /ton|
|Zanesville, OH||Light Iron||$70 /ton|
|San Francisco, CA||Unprepared Cast Iron||$60 /ton|
Gold has remained strong and that is not surprising considering the economy is still scared how things are going to react moving forward. With the over 2 trillion dollar surplus kicking in it makes it very difficult for investors to be confident that the economy will return to where it was anytime in the near future. This will cause many people to continue to question when the markets will return to where they were and when they will improve at all.
We continue to thank the healthcare workers, as well as the first responders and all staff inside of grocery stores and hospitals that are contributing to helping the problem that we have here inside of the United States. We’ve seen, read and heard stories unlike ones that we’ve ever heard in the past and it’s uplifting to see how the community is coming together to help abate this virus and move forward as a country.
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