Hey Scrap World!
I hope that everyone is doing well and staying busy as the copper prices have begun to stabilize again and we’ve seen a nice market over the last few weeks. While we have seen the price of steel declining over that time, it has not been too big of a drop; about $10 per ton on average across-the-board but that isn’t too bad all things considering. With the multiple events going on such as the Presidential election and a possible second round of large stimulus bills coming through in the next few days you may see good market news popping through.
We conTinue to be pleasantly surprised at how the entire copper market has been; although we have seen big declines in multiple industries such as aviation and aerospace which have largely affected the nickel prices and some of the superalloys that are out there, those might not be ones that you deal with every day. You might be a little more familiar with Stainless Steel which is continued to stay relatively strong.
- $3.00 – Copper climbed back over $3 on the trading sideways after a week, more below.
- $10 – Steel prices down 10 per ton due to weak export demands.
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Youth are the future of scrapping. Scrapper Michael knows how important it is, he has a scrap metal yard in his 5th-grade classroom to encourage the kids to bring items in to take apart and scrap them. We love the idea of helping them figure things out and learning how to recycle.
Copper Is Stabilizing…Better Than Going Down
As mentioned earlier we have seen the copper prices stabilizing and getting back over the trading values of three dollars per pound. That’s a very important number to watch as manufacturing has continued to increase. Some of the things that people are looking for are going to be larger manufacturing, such as the car industry, as well as consumer-electronics and not knowing what’s happening going into the holiday season is one of the big question marks overall. We have seen aluminum prices have a slight pullback of a penny or so a pound but nothing too crazy so we’re continuing to watch that market as well.
Reported Non-Ferrous Scrap Prices (9/23 – 9/29):
|Woodinville, WA||Aluminum Cans||$0.38 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.62 / lb|
|Canton, IL||Stainless Steel||$0.40 / lb|
|Pompano Beach, Fl||Lead||$0.35 / lb|
|Fenelton, PA||#1 Copper Tubing||$2.45 / lb|
|Waukesha, WI||#2 Copper Tubing||$2.25 / lb|
|Holland, MI||Enameled Copper||$2.00 / lb|
|Hornell, NY||Yellow Brass||$1.44 / lb|
|Fresno, CA||Lead||$0.20 / lb|
|Cheektowaga, NY||Sheet Aluminum||$0.24 / lb|
|Prestonsburg, KY||Copper Radiators||$1.30 / lb|
|Cornwall, Ontario*||Yellow Brass||$1.95 / lb|
Steel Is Down This Week.
With the pricing of steel down about $10 per ton overall that’s not too much of a disappointment considering the nice increases that we saw at the end of August going into September. As the market has stayed relatively flat or slightly down over the last week or so, we have seen the export demand slipping and that’s one of the major reasons that we have seen the price of iron falling. Gasoline prices and oil prices have started to slightly recover but we have not seen too much of overall demand, so we’re continuing to watch this hoping to see an increase in the near future.
Suggested Reading: Why Do Oil Prices Affect Scrap Prices?
Reported Ferrous Scrap Prices (9/23 – 9/29):
|Westville, IN||Shreddable Steel||$110 /ton|
|Townsend, MA||Light Iron||$0.03 /lb|
|Barberton, OH||Rotors||$190 /ton|
|Battle Creek, MI||Scrap Iron||$100 /ton|
|Hull, IA||Shreddable Steel||$0.045 /lb|
|Huntington, WV||Autos||$5.00 /CW|
|Albany, NY||Tin||$161 /ton|
|Allen, KY||#1 Steel||$8.50/CW|
|Allentown, PA||UPPD #2 Steel||$6.00/CW|
|South Amboy, NJ||Cast Iron||$0.06 /lb|
|Hartley, DE||Sheet Iron||$5.00/CW|
Other Metal Markets
As mentioned we have seen the price of stainless steel on a bit of a decline as the nickel market has remained relatively weak. Overall, Aluminum has been flat but we have seen an increase in the gold pricing recently. So that’s an optimistic sign with gold going over $1,900 an ounce again.
Catalytic Converter Market News
We have seen the three precious metals for the catalytic converters on a bit of a decline over the last week and a half to two weeks with the market dropping anywhere from 3 to 6% depending on the metal. Overall, it’s not the worst decline that we have seen considering we saw such an uptick at the end of the summer and into September but the team at www.RRCats.com will continue to provide us with updated prices, as well as continuing to give you quotes on your catalytic converters.
Scrap Catalytic Converter Prices This Week (9/23 – 9/29):
Cat Type/Serial Number
|JSH62||$285 / @|
|Small Foreign||$98/ @|
|Regular Domestic||$196/ @|
We think the prices have remained at a very strong and sustainable level as we continue to watch the election, as well as other economic problems going on. Hopefully, we can see more people returning to work and we’ll see if the manufacturing and consumer demand continues to have an uptick over the coming months.
- Copper’s Rollercoaster, Aluminum Going Up More? – 9/23/20
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