Copper Steadies, Steel Dips – 1/15/20

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Hey iScrappers!

Two weeks into the New Year and here we are celebrating an increase in copper prices, the trade deal that’s actually signed, and hopefully a little bit of an uptick in the aluminum market in the next few months. Overall the markets have been relatively strong from the stock market to catalytic converters to gold and other commodities. We are happy to see this and we are hoping that we continue to see this change moving forward.

We always find ourselves talking about what the markets are, but we’d love to hear from you so let us know things that we can do to help you out more, as we are continuing to put more videos together and publish more stories and tips in Scrap.

Quick Numbers

• 1 – Phase 1 between the US and China should be signed today.
• $0.05 – Increase on Monday in copper which has not steadied.
• $5 – Decrease in steel prices.

Social Scrap from Our Facebook Group

As a scrapper, making friends means a lot…especially when it’s a scrap yard. Scrap yards are excellent points of reference as well as great ways to get leads as iScrapper Matt. B is showing in today’s featured post. There are smaller jobs that scrap yards do not have the ability to handle sometimes that you have to go outside to a smaller vendor and there are many full-time scrappers like Matt that can help. It never hurts to strike up a conversation with your yard to see how you can work together.

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Non-Ferrous Market News

Copper Has Gone Up The Last Few Days…

Copper has gone up about $0.03-$0.05 in the last few days, which will affect everything from brass to bare bright to insulated copper wire. With positive stock results and overall copper prices increasing we are happy to see the beginning of 2020 in good shape.

One of the biggest issues that we have seen has been that the aluminum markets have remained in a very weak position for the scrap side of things, even as the raw products have increased in pricing. Overall, the market is very weak and when we talk to more and more people, we see that it is getting less stable even though the demand is there.

Reported Non-Ferrous Scrap Prices (1/8 – 1/14):

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Ferrous Market News

Steel Sees Slight Dip

While we have seen the iron market increasing over the last 3 to 4 months, it has slightly dipped down in the last week or so.  With very small price decreases of 5 to 7 dollars per ton in certain markets, that’s not a bad thing. But we will look for our larger price decreases that will Lead to big differences.

We have seen an easing of tensions in the Middle East and the oil prices have stabilized after seeing an increase.  We are also monitoring this, as the prices in oil will affect the steel and iron market.

Reported Ferrous Scrap Prices (1/8 – 1/14):

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Other Markets

Catalytic Converter market has remained hot as prices have stabilized at some of the higher levels that we have seen recently. While there was a bit of a pullback in the rhodium markets, there are price expectations that say we have another 20 to 30% possible to add in these prices and markets.

Thank You.

As always we appreciate the opportunity to work together and grow as we see so many people getting their hustle on. Share your stories with us at [email protected] or through our Facebook Group. 

– Tom

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Related Articles:

• Welcome to 2020, Is Steel The Meal?
• New Year’s Resolutions for Scrapping
• 6 Places To Find Stainless Steel Scrap

*Canadian Dollar