Limbo Effect: We’re Still Waiting – 10/17/18

Hey Scrappers!

Here we are right around the corner from Halloween and then for many of us we will see the colder weather starting to creep in. What to do with your scrap? We suggest cashing it in now as the steel and copper prices really have been strong the last few months. Empty those cans out and get ready for the next round of scrap that will be coming. 

Suggested Reading: 5 Ideas For Scrapping During The Fall

With Fall cleanouts, Thanksgiving, Holidays and Christmas here, there will ALWAYS be a round of scrap on the horizon. 

By The Numbers

  • (4) Swings of 300+ points either up or down the last 5 trading days…that is a big deal and not a good sign. Stay tuned
  • 1 – As in one more hurricane to have hit the US. This one in Florida will not have as bad of an impact on scrap because it hit a residential area primarily, but that doesn’t mean that we will not continue to pray for those affected. 

Non-Ferrous Scrap News

With the markets relatively unchanged we are continuing to watch the “big picture”. With sanctions on oil from Iran, little to no news with trade tariff negotiations with China, and the economy waiting for some jobs reports we are all in limbo.

Aluminum and stainless have continued to falter with the markets really taking a nose dive the last few months. Some are predicting a rebound, but few actually see one coming. 

Reported Non-Ferrous Scrap Prices (10/10-10/16):

Location

Material

Price

Philadelphia, PA Steel BX $0.06 per lb.
Rockaway, NJ #1 Bare Bright Copper Wire $2.52 per lb
Rochester, MN Brass Scrap $1.00 per lb
Charlotte, NC #1 Bare Bright Copper Wire $2.30 per lb.
New Haven, CT Aluminum Copper Radiators $0.88 per lb.
Rockville, MD Sheet Aluminum $0.35 per lb
Williamsport, PA Lead Wheel Weights $0.18 per lb.
Stittsville, Ontario* Aluminum Rims $0.62 per lb.
Nashville, TN Old Sheet Aluminum $0.33 per lb
Bemidji, MN Stainless Steel $0.30 per lb
Reading, PA Computer Wire $0.30 per lb.
Lincoln, RI Aluminum Siding $0.40 per lb
CHECK CURRENT PRICES

Ferrous Scrap Market News

Steel has shown a nice shift in the upward direction and we are happy to have seen the positive trends over the last few weeks. We saw the reported prices go up even more and we are optimistic for the balance of 2018 and the steel market pricing.

Reported Ferrous Scrap Prices (10/10-10/16):

Location

Material

Price

Lexington, NC #1 HMS $0.045 per lb
Washington, PA Light Iron $100 per ton
Lincoln, RI Shreddable Steel $20 per ton
Mt. Holly, SC Light Iron $80 per ton
Mena, AK Shreddable Steel $60 per ton
Portsmouth, OH Light Iron $120 per ton
Shawnee, OK Shreddable Steel $35 per ton
Roseburg, OR Light Iron $40 per ton
Elizabethtown, KY Shreddable Steel $140 per lb
Stittsville, Ontario* #1 Steel $180 per ton
CHECK CURRENT PRICES

Other Markets 

With gold getting a big bounce upward after the stock market took a mini nosedive last week we are happy to see that it has remained above $1,200 per ounce. It had a few weeks with a downward decline and at least some type of good came out of the mini drop in the stock pricing last week. 

We will get an in-depth report next week and really make sure to get after some of these news stories that we have been chasing for months.

Scrappp ya later!

-Tom


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