As 2018 has 4 days left it is time to sit and think about what is to come- our hope is higher scrap prices. After seeing a roaring come back of copper and steel throughout different periods of 2018 we also saw large drops happen. With the markets reacting in 2018 largely due to the tariffs, economic triggers, and changing atmospheres in the world we saw a little bit of everything.
- 4981 – The amount of points we saw the stock market swing in 2018.
- 50 Cents – Not the rapper, but the amount that copper dropped from its June 2018 highs
- $31 per barrel – No not the price of oil, but the price per barrel that it dropped from October to December 2018. That’s 40%.
There seems to be a lot of people that are on the downside of what is going to happen with the markets for 2019- but no one wants to really put their name on something definitive. The markets are still very strong with unemployment numbers low, gas prices down, and opportunities still blossoming.
With the potential (we will know by March 1st) of a trade tariff resolution coming on we may be able to see things starting to change. This is a very large what if, but it still gives us hope going into 2019 that the talks between the US and China could strengthen, and perhaps continue. Finding a resolution between these two countries will be the key to the metals market in 2019.
If those negotiations can work out- we could be having a celebratory 2019 a year from now.
Let us know what you see out in the markets, whether it is tougher markets at scrap yards, harder to find scrap, or maybe it has become easier for you.
Share your scrap stories and thoughts with us so we can get more of a large scale picture from all different angles.
Scrap ya next year!