Props To The Hustlers ✊
So…you want to make more money, but you don’t know where to begin. Isn’t that the line for everyone you know, or is it for every scrapper?
Hmmm… decisions, decisions, decisions.
Let’s go with the second one and move on from there. The scrap market is nothing like anything we have seen, as it takes regular hard-working people to be able to grind it out, and with the markets in great shape, we hope you are out there hustling like always.
We have the new iScrap 2.0 coming out this month, and with it, you will have more access to prices, historical markets, and better overall news at your fingertips. This will also bring you the opportunity to make more money by learning about trends from the perspective of other scrappers.
Want to be one of the first to know when it is officially released? Click here.
- $66.48/barrel – U.S. crude fell by as much as 4.6% and ended the day down 2.6% at $66.48 a barrel, near its lowest price since late May and 12% below a recent multi-year high.
- $4.29/lb – In another worrisome sign for traders who use commodities to gauge momentum in the world economy, most actively traded copper futures retreated 1.3% to $4.29 a pound and remain well below their May record.
Weekly Facebook Group Highlight
The only question we have is: would you do it? 😄
Okay, one more 😂 You guys really know how to crack us up.
Question: Does it matter if my brass has a little copper on it? Or do I need to extract it out?
Tom: “Leave it alone. As long as you are selling it as yellow brass, you will never have a problem.”
Suggested Reading: Difference Between Copper & Brass Scrap
Infrastructure What? 💰
Copper markets have leveled themselves out, which is great to see going into the fall. The idea that this new infrastructure bill will drastically change the overall markets could not be further from the truth. As the demand for recycled and raw commodities increases, we are looking to see more solid pricing markets going into the end of 2021 and 2022. These markets look to continue to be strong, and we doubt that we will see any pullback (or major increases) because of the infrastructure bill.
Aluminum has continued to take its white-ish grey hue and be one of the best-returning metals in all of 2021, especially as manufacturers continue to use aluminum in place of other traditional metals like steel. This increased demand for lightweight products will prove well for the markets. One of the biggest pullbacks that we may see would be the oversupply to different domestic mills that could push back on the oversupply of scrap.
Reported Non-Ferrous Scrap Prices (8/4 – 8/10):
|Lancaster, PA||Aluminum Siding||$0.50 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$3.90 / lb|
|Garland, TX||#2 Copper Tubing||$3.40 / lb|
|Columbus, OH||#1 Copper Tubing||$2.25 / lb|
|Portland, ME||Electric Motors||$0.21 / lb|
|Denver, CO||Aluminum Scrap||$0.35 / lb|
|Hayward, CA||ACR||$1.75 / lb|
|Zion, IL||Aluminum Cans||$0.45 / lb|
|New Albany, IN||Yellow Brass||$2.10 / lb|
|Lynchburg, VA||304 Stainless Steel||$0.43 / lb|
|Lewistown, PA||Auto Radiators||$1.75 / lb|
|Edmonton, Alberta*||#1 Copper Tubing||$3.80 / lb|
In Due Time…⏳
While the pullback in steel was not something that scrappers wanted to see happen, you should be happy to know that we do anticipate increases coming again. Let’s follow the dominos and see if we can help predict a price increase. Shall we?
- Summer is almost over, and people will be commuting more and more to go to work.
- Additional unemployment ends in September, and more people will go into the workplace.
- Demand for oil and gas will increase due to more commuters and the Fall/Winter seasons around the corner.
- Increased demand will lead to increased oil/gas prices…and then we could (should) see scrap prices increasing.
Does that make sense?
Reported Ferrous Scrap Prices (8/4 – 8/10:
|Howell, MI||Shred||$240 / ton|
|Iowa City, IA||Complete Car||$160 / ton|
|Austin, TX||Shreddable Steel||$235 /ton|
|Tempe, AZ||Scrap Iron||$135 / ton|
|Milan, IL||Shreddable Steel||$140 / ton|
|Manassas, VA||Light Iron||$0.07 / lb|
|San Jose, CA||#1 Prepared||$255 / ton|
|Lacey, WA||Shreddable Steel||$165 / ton|
|Morristown, IN||Scrap Iron||$190 / ton|
|Lafayette, TN||Complete Car||$150 / ton|
|Winnipeg, Manitoba*||Steel/Tin/Cast||$250 / ton|
Other Metal Markets
Lead‘s Making A Comeback 📈
Lead prices started to FINALLY increase on the battery side as we saw prices go up about $0.02/lb overall. Is it the old days of $0.45? Heckkkk no, but at this point, any increase in battery prices is a good sign. Soft lead prices have definitely strengthened, and we see all types of strong prices here with reported numbers as high as $0.60/lb.
Catalytic Converter Market News
BROUGHT TO YOU BY:
Consistency Is Key 🔑
Let us guess. You have been scrapping cars for years, and just as the catalytic converter market starting getting hotter, you saw all types of new people in the area buying cars and cats too? There is nothing new here, as this has been the cycle and trend for years with the rise and fall of the scrap markets. The best way to know what is going on and how you can make more money with cats is by paying attention and finding consistent buyers. For years when we (Tom at Rockaway) were buying and selling cats, no one would spend time going over how and why prices changed.
So….the research began.
- Where do prices come from?
- How do you find them?
- How do you know the prices are right?
- How can you learn more about price fluctuations?
- Who will always buy regardless of up and downswings?
These are some of the beginning questions that you need to really sort out in your head before trying to make more money. By establishing a stronger network around yourself, you will be able to make long-term money and while making the best bang for your buck is great, consistency has always been better. Still curious or want to learn? Check out some videos to help you.
Scrap Catalytic Converter Prices This Week (8/4 – 8/10):
Cat Type/Serial Number
|Foreign – Pre||$83/ @|
|Foreign – Large||$380/ @|
|Honda 02||$645/ @|
|Chrysler||$306 / @|
|GM – Large Breadloaf||$196/ @|
|Bead Regular||$37/ @|
|Bead Jumbo||$149/ @|
Thank you for all that you help us do inside of the scrap industry. We always strive to learn what you want to hear and read about, and we hope that we can help you as much as you can help us. Cheers to all.
- Last Week’s Report: No Reason To Complain About Scrap Prices – 8/4/21
- Should I Granulate My Scrap Copper?
- Options for Recycling Tires from Scrap Cars
- Metal Monday: Types of Scrap Lead Batteries