We hope that everyone is doing well and we want to wish the family is down in Alabama that were affected by the tornado all of our prayers and well wishes. All we keep hearing on the news is how people are talking about losing friends and family and no one is talking about losing things. We hope that if you’re able to help support some of these people that you can do so.
Copper prices have been relatively unchanged over the last week even though we saw a small dip but then a small jump back up to the levels that they have been at for the last two weeks. With a lot of positive news coming out of the trade negotiations between the Chinese and the US, we are really hoping to see a deal struck by April 1 according to some reports.
- $2.43 Per Gallon – National gas prices are up over the last few weeks along with gas prices rising.
- 30 Days or Less – The rumor that the US will have a deal in place with the Chinese – stay tuned.
Social Scrap from Our Facebook Group
A lot of people inside of the social media groups and channels that we go into talking about free stuff that they get, and we love seeing that. But something to keep in mind is that nothing is free when you consider all of the hard work and the effort that you put into getting it. This is called sweat equity and when you get loads that make it worth your day just think about all the other times that you went out there not been able to find anything. So these are important things to keep in mind that we love when people share these so keep them coming.
Non-Ferrous Market News
With copper prices relatively unchanged over the last two weeks we have seen minor jumps and declines. Overall it seems like the market is very optimistic and that’s why we saw the large increase 2 to 3 weeks ago, but now we are waiting to see what happens with the potential finalization of the trade deal and elimination of some of the tariffs between the US and the Chinese.
The aluminum prices have continued to be very poor and do not seem to be having any high expectations put on them. One thing that we have learned by talking to dozens of different recyclers and larger processors is that they are looking for material to be broken down and cleaner than ever. This means that we will eventually see scrapyards having more pressure put on them and then they will have to push more pressure to their customers
Reported Non-Ferrous Scrap Prices (2/27 – 3/5):
|Salem, OR||Romex Wire||$1.21 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.61 / lb|
|Cedar Lake, IN||Lead Batteries||$0.15 / lb|
|Middlesex, VT||#1 Bare Bright Copper Wire||$2.10 / lb|
|Fort Wayne, IN||Brass Scrap||$1.00 / lb|
|Annapolis, MD||304 Stainless Steel||$0.20 / lb|
|Liberty, TX||AL Extrusion||$0.24 / lb|
|Waynesboro, PA||Insulated Copper Wire||$0.45 / lb|
|Radcliff, KY||Aluminum Siding||$0.20 / lb|
|Sterling, IL||#1 Bare Bright Copper Wire||$2.00 / lb|
|Medford, NY||#1 Copper Tubing||$1.60 / lb|
|Kauai, HI||Brass||$0.75 / lb|
|Bensalem, PA||Stainless Steel||$0.30 / lb.|
Ferrous Market News
Iron and steel prices are down about seven to $10 per ton over the last week. With some of the problems from the mine collapsing down in Brazil been resolved, we have seen the prices go closer to where they were before that unfortunate incident happened. Of course, we will be watching for the trade deal to go into effect as well and this will have an implication on the scrap prices.
With the price of oil and gas slowly creeping up we also should see this affect the markets going into the spring and summer but nothing will be more impactful than the tariff deal that will be going into effect. We also continue to see more steel corporations in the United States re-opening or building more furnaces to keep more material here and it’s going to be a very different year than it has been in years past.
Reported Ferrous Scrap Prices (2/27 – 3/5):
|Eureka, IL||Shreddable Steel||$90 /ton|
|Elizabeth City, NC||Shreddable Steel||$160 /ton|
|Burnaby, British Columbia*||Light Iron||$100 /ton|
|Bowling Green, KY||Shreddable Steel||$110 /ton|
|Waynesboro, PA||Light Iron||$110 /ton|
|Greenville, SC||Shreddable Steel||$95 /ton|
|Aliquippa, PA||Shreddable Steel||$100 /ton|
|Manly, IA||Light Iron||$100 /ton|
|Woodstock, GA||Shreddable Steel||$100 /ton|
|Radcliff, KY||Light Iron||$130 /ton|
|Barren Springs, VA||#1 Prepared||$0.10 /lb|
With the US dollar been very strong we have seen the gold prices decline below $1,300 per ounce and at the time of writing this report, gold prices were around $1,287 per ounce. Well off of the highs that we had a few weeks ago. The same time we have seen Palladium braces continuing to climb which have drastically increased the value of the cat market. With these catalytic price is going up we talked to a catalytic converter buyer who said that they are being very cautious while buying large loads of material because the price increases on the metals went up so quickly that they do expect a bit of a reversal and they just don’t know when the cat market will reverse course.
Let us know anything that you’re looking for in that we can help shed a little light on and we will do our best to get that information to you as quickly as possible. Scrap ya next week!
- Last Week’s Report: Scrap Prices Remaining Steady
- Ripple Effect of Trade Wars on Scrap Metal
- What Are Metal Tariffs & How Do They Affect Scrap?