Wait for it…
…There it is, the ability to be completely uncertain of where the markets are going and why they might be moving one way or another. Good day scrappers and we hope that everyone is doing well And staying busy during the summer. Believe it or not, we’re only five or six weeks away from the school year starting and in some states, a little less. What we have heard lately, is that a lot of people have been finding more material than ever due to the prices being down and fewer people being out there looking for material. We would love to hear from you by emailing us at [email protected].
With the markets remaining relatively steady week over week, that’s positive news with everything else going on right now. Issues that we see is gold prices increasing, the government printing more money and potential trade issues with the Chinese coming into fruition soon.
- $0.02 = The cost to make a penny is twice what a penny is worth.
- $1,956 – Gold hits all-time record high
- 56 Cents – Gas average $2.25 down 56 cents from last year.
Social Scrap from Our Facebook Group
50/50. No, not a rafflen- but a split on “free” scrap is always a good deal in our eyes. If someone wants to split material that you only have to load and sell, well that is a good day. Our tip for iScrapper Eric C would be to know the grade of aluminum so you can make more money on it.
While we have not seen a decrease over the last week in the copper markets, we have seen a little bit of uneasiness. While the markets have remained steady we have seen multiple scrapyards not having large increases in their prices because there is still so much instability in the market and fear about getting paid from multiple buyers, especially ones that are overseas. Well, you might not think that their problem is your problem, but they will have wider spreads on their copper as they wait to get paid for a longer period of time and we have heard multiple stories of traders disappearing and causing widespread problems in multiple large metropolitan areas.
Let’s talk about something positive and then we can get the lead out. If you were clever enough to figure out that very lame joke you, would be able to see that the lead prices have risen recently but the battery prices have not. We have seen the price of soft lead increasing about $.03-$.05 per pound and it has been one of the things that have partially gone unnoticed as the market generally focuses on copper and other nonferrous metals.
Reported Non-Ferrous Scrap Prices (7/22 – 7/28):
|Bedford, IN||Romex Wire||$1.04 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.55 / lb|
|Byhalia, MS||Aluminum Cans||$0.20 / lb|
|Sterling Heights, MI||Cast Aluminum||$0.22 / lb|
|Tucson, AZ||Carbide||$5.00 / lb|
|Omaha, NE||Clean ACR||$1.17 / lb|
|Carriere, MS||#1 Copper Tubing||$2.24 / lb|
|Chalmette, LA||#2 Copper Tubing||$2.05 / lb|
|Portland, OR||Motherboards||$1.00 / lb|
|Cleburne, TX||Stainless Steel||$0.20 / lb|
|Winston Salem, NC||Car/Truck Batteries||$0.12 / lb|
|Delmar, DE||Yellow Brass||$1.40 / lb|
While we have heard some minor rumblings of iron prices going up going into the month of August, we have not seen hard facts for any type of a large increase. Overall, the market has been relatively flat for the month of July after we saw a dip in the market back in June. With oil prices stabilizing around $40-$42 per barrel and people beginning to be back on the roads more, we would hope to start to see more construction but overall the markets have not answered and because of that we continue to see prices that are much lower.
Going into the election season in the next few weeks and months, we do not expect to see any type of a large increase in the steel prices until we have much more information on what’s going to happen overall.
Reported Ferrous Scrap Prices (7/22 – 7/28):
|Farmingdale, NY||Light Iron||$4.00 /CW|
|Viola, IL||Shreddable Steel||$70 /ton|
|Salem, OR||Wet Automobile||$35 /ton|
|Bunnell, FL||Tin||$3.50 /CW|
|Maricopa, AZ||Light Iron||$0.03 /lb|
|Lancaster, PA||#1 HMS||$0.05 /lb|
|Dafter, MI||Sheet Iron||$80 /ton|
|Oakland, CA||Light Iron||$60 /ton|
|Oklahoma City, OK||Crushed Cars||$105 /ton|
|Baltimore, MD||Shreddable Steel||$40 /ton|
|Marshall, WI||Tin||$30 /ton|
Other Metal Markets
Aluminum has shown a very limited amount of life with prices up about a penny per lb., but that is mostly due to local shortages. We read some articles about how some aluminum can producers are having a hard time finding material but they may have to turn outside of the country to do so soon. This may cause some scrap yards to increase their aluminum can prices because they are so easy to recycle, but not for other types of aluminum.
Catalytic Converter Market News
We saw an uptick in all three metals markets over the last week and because of that, we saw an increase in the overall catalytic converter market. With many manufactures behind on producing cars and the demand picking up for more high mileage vehicles, we will continue to see higher emissions standards and thus more catalytic converters.
Scrap Catalytic Converter Prices This Week (7/22 – 7/28):
Cat Type/Serial Number
|JSH62||$245 / @|
|Small Foreign||$71/ @|
|Regular Domestic||$153/ @|
We know it is hot and we keep telling everyone to drink water and pay attention to iScrap’s notifications. Make sure you download or update your iScrap App on your iPhone or Droid so you can get notifications on market shifts throughout the week.
Scrap ya later!
- Copper Scrap Prices Heating Up? – 7/22/2020
- Why Do Oil Prices Affect Scrap Prices?
- Tips For More Long-Term Scrap Customers