Here we are two weeks into the last and final quarter of 2018 and we have seen all types of ups and downs in October alone. Copper up- then down. Steel up- then up again. Aluminum has been staying sideways and overall this market has been very tough to deal with. We have been watching such markets as oil, gas, natural gas, crude, economic situations in countries like Venezuela and other countries in South America and there is a lot going on.
But wait, there’s more! We have also seen better unemployment numbers, gas prices down, and we have seen more people moving materials into the yards.
By The Numbers
- 50%. The estimated increase in profits for domestic steel mills in 2018.
- 9. As in number of Supreme Court Justices after last weekends confirmation.
- 29 Days until the midterm elections. Many think that we might see major discussions with overseas countries after the political picture works itself out.
Non-Ferrous Scrap News
With copper prices flat again over the last week we have been pleasantly surprised by that news. With prices being flat week over week we have seen a real stabilization in the markets and are very happy about that news.
Aluminum has continued to become more and more weak over the last few weeks and does not look to be getting better anytime soon.
Reported Non-Ferrous scrap prices (10/3-10/9):
|Reading, PA||#1 copper tubing||$2.00 per lb.|
|Rockaway, NJ||Bare Bright||$2.52 per lb|
|Rutland, VT||Red Brass||$1.20 per lb|
|Bremerton, WA||aluminum siding||$0.30 per lb.|
|Wilkes Barre, PA||#2 copper tubing||$1.90 per lb.|
|Temple, PA||Yellow Brass||$1.15 per lb|
|Pandora, OH||Insulated Copper Wire||$1.73 per lb.|
|Northern Cambria, PA||Cast Aluminum||$0.30 per lb.|
|Rochester, NY||Low Grade Boards||$0.08 per lb|
|Hartford City, IN||Lead Batteries||$0.22 per lb|
|Rogers, AK||Bare Bright Copper Wire||$1.60 per lb.|
|Albuquerque, NM||Stainless Steel 304||$0.26 per lb|
Ferrous Scrap Market News
With gas and oil prices rising we have finally seen the prices of steel following as well. With steel rising almost four weeks in a row we are happy to see a positive trend moving the right way. We are watching the markets and have been happy with the progress so far.
Reported Ferrous scrap prices (10/3-10/9):
|Rutland, VT||Light Iron||$80 per ton|
|Glasgow, KY||Shreddable Steel||$120 per ton|
|Winslow, AZ||Light Iron||$40 per ton|
|El Cajon, CA||Light Iron||$50 per ton|
|Santa Fe, NM||Shreddable Steel||$100 per ton|
|Portland, OR||Light Iron||$135 per ton|
|Virginia Beach, VA||Light Iron||$80 per ton|
|Alturas, CA||Shreddable Steel||$80 per ton|
|Pandora, OH||#1 Steel||$0.06 per lb|
|Niagara Falls, NY||Light Iron||$125 per ton|
The week in total has been a bit of a wash with not much good or bad news related to the scarp metal markets going on. We will keep watching the reports and different news outlets to see what is going on.