Good Day to Everyone!!!
Can you believe it’s already the middle of March and almost 1/4 of 2019 is done? With the scrap price is reacting positively and steel and copper markets have been very strong all of this year we are hoping to resolve the tariff dispute and get even better news going into the rest of 2019.
We have seen the pricing on steel increase about $20 per ton on have your grades over the last three weeks and about $10 per ton on light iron and shred iron. We have also seen more positive talks coming from the US in the Chinese even though the last week or so has been relatively quiet.
- 6.2% – The amount expected in year over year growth in China
- 2.6% – The amount in the US.
- 1.0% – The amount of growth in Europe.
- 20.7% – The percentage of Chinese exports were down year over year for February.
Social Scrap from Our Facebook Group
We recently saw a post that featured our sister company, Rockaway Recycling, and we were happy to see the number amount of comments that were sprung from the original question. Learning, growing, and seeing what other type of information is out there is the only way to continue to give yourself an opportunity to make more money and to see how other scrap yards or scrappers do things.
Non-Ferrous Market News
With the average US price of gas up six cents a gallon over the last two weeks, we have begun to see some of the oil and gas prices potentially affecting the metals market. While aluminum has continued to be one of the weakest metals and has the weakest demand over the last year we are hopeful that the tariff negotiations will conclude as soon as possible.
Suggested Reading: Why Do Oil Prices Affect Scrap Prices?
The copper market has continued to thrive and has seen a very stable market over the last month since the increase that we saw happen. Hopefully, this will continue and trickle over to some of the lower grade copper items such as computer wire, electric motors, and sealed units.
Reported Non-Ferrous Scrap Prices (3/6 – 3/12):
|Iron, MN||#1 Copper Tubing||$2.00 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.61 / lb|
|Oshawa, Ontario*||Car/Truck Batteries||$0.30 / lb|
|Burlington, KY||Aluminum Cans||$0.20 / lb|
|Vidalia, LA||Aluminum Siding||$0.35 / lb|
|Santa Clara, CA||Insulated Copper Wire||$0.50 / lb|
|Philadelphia, PA||Yellow Brass||$1.40 / lb|
|Woodinville, WA||Aluminum Copper Radiators||$0.88 / lb|
|Langley, British Columbia*||#1 Copper Tubing||$2.85 / lb|
|Lloydminister, Alberta*||Brass||$1.50 / lb|
|Middlefield, OH||Stainless Steel||$0.26 / lb|
|Beaverton, OR||#1 Bare Bright Copper Wire||$2.20 / lb|
Ferrous Market News
The steel and iron markets have been very strong over the last two weeks with some of the heavier grades of metal jumping as much is $20 per ton. With another positive increase, we are really hoping to see this continue to climb going into the spring and summer months.
We have also seen the pricing on light iron and shredding material go up about $10 per ton over the last two weeks overall once the prices were averaged out. Again we go back to the tariff negotiations and hoping that they will become more and more positive with a potential deal been struck before the busiest time of the year which is late spring and summer.
Reported Ferrous Scrap Prices (3/6 – 3/12):
|Iron, MN||Complete Car||$65 /ton|
|Rochester, NY||Shreddable Steel||$200 /ton|
|Radcliff, KY||Light Iron||$130 /ton|
|Langley, British Columbia*||Unprepared Cast Iron||$80 /ton|
|Akron, OH||Cast Iron||$130 /ton|
|Brampton, Ontario*||Shreddable Steel||$100 /ton|
|Guelph, Ontario*||Light Iron||$90 /ton|
|Fontana, CA||Shreddable Steel||$140 /ton|
|Sturgis, KY||Unprepared Cast Iron||$140 /ton|
|Surrey, British Columbia*||Cast Iron||$90 /ton|
Most of the other markets like gold, palladium, and other rare earth alloys like Carbide or tungsten have remained at relatively strong levels as well. Wall metals like carbide and tungsten are down about 15% overall from their recent highs 6 to 8 months ago, they are still at a relatively strong level and hopefully, we will see them continue to shine.
Please reach out to us and let us know if you have any questions or ideas that we can help teach you more about scrap metal.
- Scrap Prices: Is There Some Hope Soon? – 3/6/19
- What Are Metal Tariffs & How Do They Affect Scrap?
- 3 Surefire Ways To Make More Money Scrapping