Weekly What’s Update: Copper, Steel Heading Downward

Hey iScrappers!

In the days since we spoke we had a small uplift in the market…only to be followed again by the market going down. With the talk of an economic slowdown in China, the worlds largest copper consumer, it is going to be hard to imagine that we will continue to see large rises in copper anytime soon. Hate to write thing…but many are predicting copper going to $2-2.20 per lb.

On other front, steel is softening again and we are predicting that it will go down another $20-30 per ton shortly. Gold has been going up lately with so many other commodities decreasing….who knows what else we have to see.

With the world bank in retreat right now traders are looking for more metals and commodities to really move. That is why copper had been so volatile lately and gold has crept up as well. With the market in a little uncertainty the gold prices have crept up approaching $1300 per ounce.

The markets will be shaky for a little while with many saying that another 10-20% drop is coming.

Until Next Week…..SCRAP YA LATER!!!

  • Copper PricesBare Bright: $2.0-$2.25
  • Copper Pipe: $1.60-$2.10
  • Clean Brass: $1.20-$1.50
  • Insulated Copper: $0.70-$1.75
  • Aluminum Sheet: $0.36-$0.51
  • Stainless Steel: $0.37-$0.45
  • Aluminum Cans: $0.35-$0.55 (Not CRV Pricing)
  • Light Iron: $100-$165 per ton

Prices as of 1/21/15

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