New iScrap App – With Notifications
We hope that everyone is doing well and staying as busy as possible going into the summer months. We are happy to see the copper prices increasing to pre-pandemic levels and even higher than they were. We are hoping to now see these changes affect the prices and hopefully, you’ll be able to see a couple of extra dollars in your pocket this week or month.
We have had so many people asking us about catalytic converter prices that we decided to inject a Catalytic Converter pricing section into our weekly posts and we look forward to any ideas comments or improvements that we can make, just let us know.
- $0.20 – Gas is up $0.20 per gallon since May 1st
- 40%– Some of the different stock markets are up 40% since bottoming out in March.
Social Scrap from Our Facebook Group
This week we are spotlighting iScrapper Noah who was scrapping with family the other day. Cashing in aluminum cans is tough as many yards are not buying due to COVID right now but he was able to unload his stash!
With the copper market showing real signs of life over the last three weeks, we are very optimistic about where it’s headed. Wow, there are massive amounts of discrepancies in what’s going on in the market; really how the Chinese and the United States trade deal is going to work out which will add a lot of questions to how we are doing overall. If the United States and the Chinese continue to have discrepancies we might see a bit of a rocky copper market going forward.
We are starting to see a little resurrection in the aluminum market with prices increasing about $.01-$.02 per pound over the last couple of days. Now that might not seem like a huge deal considering that aluminum has been a very difficult metal this year, we’re happy to see any sign of life at all. With the oil prices creeping back up and more manufacturing jobs going back to work, as well as coming back into the country from overseas; we are optimistic that we will continue to see an increased market not only on the aluminum side but all non-ferrous.
Reported Non-Ferrous Scrap Prices (5/27-6/2):
|Alsip, IL||Aluminum Copper Radiators||$0.65 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.10 / lb|
|Oklahoma City, OK||2/3 Mix Copper||$1.80 / lb|
|Tallahassee, FL||Aluminum Radiators||$0.10 / lb|
|Toledo, OH||Aluminum Siding||$0.25 / lb|
|Hurlock, MD||Stainless Steel Sinks||$0.07 / lb|
|Denver, CO||Romex||$1.04 / lb|
|Everett, MA||Brass||$1.25 / lb|
|Indianapolis, IN||#2 Copper Tubing||$1.88 / lb|
|Chattanooga, TN||#1 Copper Tubing||$2.05 / lb|
|Hellertown, PA||Aluminum Cans||$0.25 / lb|
|Hamilton, Ontario*||Aluminum Rims||$0.50 / lb|
With oil prices increasing recently, we have been happy to see where some of the markets have been moving in the last few weeks. While we did not see a huge increase in steel pricing over the last week, we’re still happy with the increases that we have seen and the stabilization that has come over the last few weeks. With oil prices rallying and jumping over $35 a barrel and the stock market beginning to return to its regular form, we are happy with where these prices and markets are.
While we are continuing to watch the market closely and trying to figure out what’s going on with them, we’re still looking at them in a long-term recovery mode lasting the rest of this year before we start to see real signs of improvement.
Reported Ferrous Scrap Prices (5/27-6/2):
|Hurlock, MD||Light Iron||$70 /ton|
|Pennsauken, NJ||Light Iron||$0.05 /lb|
|Lafayette, LA||Shreddable Steel||$78/ton|
|Duluth, MN||Light Iron||$30 /ton|
|El Reno, OK||Light Iron||$50 /ton|
|Cleves, OH||Sheet Iron||$80 /ton|
|Whitehall, PA||Shreddable Steel||$0.03 /lb|
|Westport, MA||Light Iron||$105 /ton|
|Hazel Park, MI||Scrap Iron||$56/ton|
|Denver, CO||Scrap Iron||$55/ton|
|Waterloo, NE||Tin||$50 /ton|
The nickel market has been relatively difficult in the last few months with stainless steel prices continuing to be in a depressed state. Stainless steel and other nickel prices vary depending on the aviation and aerospace markets, so it’s going to be extremely interesting to see what happens over the upcoming months and possibly years for a recovery to take place and take form. We have seen regular stainless prices in the $0.16 to $0.25 range for 304 stainless.
Catalytic Converter Market News
Catalytic Converter prices have been increasing over the last few weeks with the market showing signs of life. While we did see rhodium drop down a few hundred dollars per ounce, we are happy with the recovery that we saw on the white metal as a drop down as low as $2,500 an ounce and has since tripled since March. If you’re looking for any quotes on your catalytic converter’s look no further than www.RRCats.com where our team will be able to continue to give you more information on your catalytic converter recycling and quoting needs.
Scrap Catalytic Converter Prices This Week (5/27-6/2):
Cat Type/Serial Number
We continue to thank all the first responders, truckers, police, medical personnel and essential workers across the country in the world that are just doing their job, but are being put into places above and beyond the regular call of duty and we appreciate and thank you for that.
- Is Aluminum Coming Back To The US? 5/27/2020
- Why Do Oil Prices Affect Scrap Prices?
- Top 25 Most Common Scrap Metals