Hopefully, you’re looking for more treats than tricks this Halloween and you’re able to find some good scrap hiding in the bushes or wherever it is you may find it today. We hope that everyone has been staying busy and continuing to follow our reported prices as well as some of our weekly updates. Don’t forget you can always follow us through Patreon (click here) which will allow you to get more tips and tricks during the week.
We have seen the market in a bit of a standstill over the last week and that is not a bad thing. After seeing an increase over the last few days were happy to see a little bit of stabilization after those prices jumped up a little bit. Having the market being unstable is not good news and we look forward to stability always. We have also seen a small uptick in the iron market and we hope that this continues as well.
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Social Scrap from Our Facebook Group
Today, we were able to see and read responses to a great question that often gets talked about. “Do you scrap regardless of price?” iScrapper Dan M. posted this and quickly got a lot of answers with more we are sure to come today and tomorrow. We know that a lot of scrappers hold onto their material- but we like seeing different thoughts and reactions.
Thankfully, we have started to see a few price increases in different markets. Not only has the copper price begun to accelerate and then stabilize over the last 10 days, but we have also seen the market increase slightly on the aluminum side of things. On top of this, we are hearing that in the next two months, there will be a meeting in person between the president of China and the president of United States and we are hoping that that will show a completion and a signing for the phase 1 that has been talked about.
We have been asked many times our opinion on what is going to happen with the market and the prices. We fully expect this to be in the unstable market for the rest of this year. While we’d like to have an optimistic point of view, we do not see a deal being completed this year, nor do we see a large increase in any market prices for the rest of 2019. So if you are holding out for some type of large jump in the market, short of there being a surprise signing of some type of a tariff agreement, we do not see any big pieces of information or news coming anytime soon.
Reported Non-Ferrous Scrap Prices (10/23 – 10/29):
|Englewood, CO||Electric Motors (Copper)||$0.23 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.27 / lb|
|Reading, PA||Aluminum Copper Radiators||$0.92 / lb|
|Townsend, MA||Steel BX||$0.04 / lb|
|Holmen, WI||Christmas Lights||$0.10 / lb|
|Worthington, MN||Aluminum Siding||$0.20 / lb|
|Watertown, SD||#2 Copper Tubing||$1.65 / lb|
|Spartanburg, SC||#1 Copper Tubing||$2.06 / lb|
|Tulsa, OK||Brass||$1.00 / lb|
|Lake City, FL||Insulated Copper Wire||$0.40 / lb|
|Elizabethtown, KY||Aluminum 6063||$0.22 / lb|
|Fruitland, ID||Romex® Wire||$0.40 / lb|
We have started to look at other industries in different directions to get a gauge on the iron and steel markets. While watching these markets over the last few months we started to see a trend in the new manufacturing industries in the larger steel companies that are out there. We started to look at them and are trying to get a better gauge of what is going on overall. We have looked at a few new steel manufacturer’s information and are trying to figure out where the market is going forward. In one report by Nucor Steel, one of the largest steel manufacturers in the country, they believe that the prices of scrap steel have now bottomed out. While that might not be the positive news that you were looking for it does beat the negative news which would show a further decline moving forward.
One potential issue that we do see coming up in the near future will be a flooding of the market with high grade heavier values of steel. We believe that once the prices start to increase, there are so many people that are holding a lot of product, that they will begin to flood the market with this material that’s pushing the price increase down slightly.
Reported Ferrous Scrap Prices (10/23 – 10/29):
|Helena, MT||Light Iron||$20 /ton|
|Statesville, NC||Shreddable Steel||$0.03 /lb|
|Thomasville, GA||Cast Iron||$80 /ton|
|Bristol, NH||Automobiles||$125 /ton|
|South Beloit, IL||Light Iron||$45 /ton|
|Mitchell, IN||#1 Steel||$70 /ton|
|Esterville, IA||Shreddable Steel||$30 /ton|
|Owego, NY||Cast Iron||$80 /ton|
|Flint, MI||Water Heaters||$0.03 /lb|
|Waxahachie, TX||Scrap Iron||$0.015 /lb|
|Deland, FL||Shreddable Steel||$60 /ton|
While we have seen aluminum trading prices increasing slightly recently, overall we have not seen those price increases reflected on the Scrap side of things. These markets have continued to be depressed and have not shown many signs of life as we have seen some prices for Sheet Aluminum reported in the $.15-$.25 a pound range. Higher grades of aluminum such as 6063 have also been relatively weak due to tariffs and demand problems.
For those of you that celebrate Halloween, we wish you a happy Halloween and we hope that you have many trick-or-treaters or you take your little ones trick-or-treating and have a nice time. For those of you that do not celebrate Halloween, we wish you a happy end of October and we hope that the final two months of the year show some surprises; as that would be a very welcome sight in time for the holiday season.
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