Prices are up for 2021.
That might not be groundbreaking news, but it is the focus that we’re looking at as we enter the month of December. As we just heard from people inside of the government that the inflationary period that we’ve been talking about for months is going to be here to stay, which is also going to affect all scrap prices moving forward.
These higher scrap prices look like they will be here to stay, even if only by default, because of the amount of money pumped into the world economy. But it seems like the commodities prices are outpacing inflationary costs, which could and should be good for you going into 2022.
Copper – SELL
Aluminum – HOLD
Brass – SELL
Copper Wire – SELL
Stainless Steel – HOLD
Non-Ferrous Price Chart of the Week
#1 Steel – SELL
Shreddable Steel –SELL
Light Iron – SELL
Cast Iron – SELL
Complete Car – SELL
A lot of people have asked us about how the infrastructure bill will affect the steel prices, and we’re more concerned about oil, like we say over and over again. With oil prices looking to remain high for the foreseeable future, we expect to see these markets for iron and other steel continuing to expand. We believe that we saw the floor of the markets 2 to 3 months ago, and we could see more stabilization if not more upwards growth in the coming months.
Ferrous Price Chart of the Week
Other Metal Markets
Stainless steel prices have pulled back slightly as nickel markets have adjusted. Overall they are solid, but we still have seen slight pullbacks. We continue to see the auto battery sector in a weak position, with prices continuing to move the opposite way from what we would like. Moving forward, we expect to see lead-acid battery prices continuing to the weekend, but the possibility of the stainless steel market looks to be on the upward side.
Catalytic Converter Prices & Market Status
Catalytic Converters – HOLD
With a considerable fear-based off of the market, we didn’t see precious metal prices decreasing over the last few days for the catalytic converter markets. This is also due to end-of-the-year problems in the supply chains and the beginning of a pullback going into the holiday season. We do expect the catalytic converter Markets to show substantial increases in January if you’re looking to hold on.
We hope that you have had a very successful 2021, both through Scrap and health. Going into 2022, we will continue to talk about the market and would love to hear more about what you want us to talk about.
Other Valuable Resources
- Time To SELL Copper? – 11/24/21
- 5 Places To Store Scrap Securely & DIY Storage Options
- 33 Holiday Gift Ideas for Scrappers