Hopefully, everyone is enjoying these prices which have conTinued to remain steady over the last seven days. But more importantly, many of you might be celebrating the beginning of the fall season by going apple picking and pumpkin picking this weekend and we look forward to hearing about your stories and especially your best recipes when it comes to apple pie.
Copper prices have fluctuated slightly over the last few days with markets having an overall eight-cent jump where the low was immediately raised by increases over the next couple of days that we have seen. On top of that, we have continued to see stabilization in the overall markets as we near the election which we expect to see price swings just due to the volatility in the political and economic environment.
- 80% – More than 80% of all Palladium is used in catalytic converters.
- 15 Year – Copper levels are at 15-year lows in warehouses monitored by the LME.
Social Scrap from Our Facebook Group
Help is always welcome from a group opposed to regular Google searches and this is one of those examples. iScrapper Matthew M. posted about copper having higher values and there were 19 comments within hours. This shows how the questions that you think about should always be asked to help yourself and others make more money with your scrap.
Aluminum Is Still Strong
Last week we saw increases in copper of $0.09/lb in one day and on the following day or so, we saw the decrease follow immediately. Over the last 2 to 3 trading days, we have seen mixed markets jumping or decreasing between $0.03-0.06/lb. overall but nonetheless, we have seen increases in most prices across the country, as well as in Canada. One thing that we have been looking for and have not heard much about has been any potential strikes in copper mine operations, which is a good thing. We have seen one major strike every year over the last few years, so we won’t be shocked if one happens soon.
Aluminum prices have remained at very strong levels when you compare them to the last few years and we are happy to finally have seen markets moving for aluminum. We have seen many people asking other scrappers when they expect the aluminum prices to jump and if you’re really into gambling, you might wanna wait a little more because you might have an increase coming over the next 3 to 6 months depending on some of the trade negotiations, as well as potential tariff reduction.
Reported Non-Ferrous Scrap Prices (9/16 – 9/22):
|Walled Lake, MI||Car/Truck Batteries||$0.14 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.72 / lb|
|Alton, IL||#1 Copper Tubing||$2.11 / lb|
|Fenelton, PA||#2 Copper Tubing||$2.30 / lb|
|Savannah, GA||Yellow Brass||$1.20 / lb|
|Glenwood Springs, CO||Romex Wire||$1.08 / lb|
|Columbus, IN||304 Stainless Steel||$0.32 / lb|
|Garland, TX||Aluminum 6063||$0.46 / lb|
|Youngstown, OH||Aluminum Cans||$0.22 / lb|
|Hayward, CA||Aluminum Rims||$0.45 / lb|
|Pompano Beach, FL||Christmas Lights||$0.05 / lb|
|Anderson, SC||Aluminum Rads||$0.17 / lb|
With potential markets moving upward for the rest of the year, we have seen a bit of a hiccup due to oil prices lagging behind. While there is a temporary increase that we have seen across most portions of the United States, overall we’re not extremely optimistic going into the rest of 2020 as markets have made price reductions on iron relatively easy.
Reported Ferrous Scrap Prices (9/16 – 9/22):
|Landsdowne, PA||Light Iron||$0.04 /lb|
|Deerfield Beach, FL||Shreddable Steel||$130 /ton|
|Belton, TX||Scrap Iron||$0.02 /lb|
|Allen, KY||#2 Steel||$7.50 /CW|
|Elmsford, NY||Cast Iron||$4.50 /CW|
|Fontana, CA||#1 HMS||$125 /ton|
|Pontiac, MI||Shreddable Steel||$50 /ton|
|Inver Grove, MN||Mixed Sheet Iron||$115 /ton|
|Muskogee, OK||Car w/Tires||$140 /ton|
|Huntington, WV||Tin||$0.04 /lb.|
|Hamilton, Ontario*||White Goods||$165 /MT|
Other Metal Markets
Catalytic Converter Market News
We have seen drastic price reductions in the Catalytic Converter market as all three base metals have dropped substantially over the last seven days. While we continue to believe that the long-term pricing will remain strong and has a lot of room for growth; the short term is going to be shaky. One of the real positive things that we have seen and read about is how manufacturing companies are putting more precious metals into the converters to help offset emissions. Not only is that a great thing for the environment, but that means that the demand for Catalytic Converters will continue in the future cars that we will be scrapping and will have Catalytic Converters that are worth more money.
Scrap Catalytic Converter Prices This Week (9/16 – 9/22):
Cat Type/Serial Number
|JSH62||$301 / @|
|Small Foreign||$105/ @|
|Regular Domestic||$202/ @|
We want to hear your questions so let us know what we can talk more about during our weekly report. Whether it is material separation or learning about a metal our team is here to help you learn more about scrap!
- Aluminum Sees Higher Demand – 9/16/2020
- Looking Inside a Catalytic Converter
- What is Aluminum Extrusion?