We hope that everyone has been enjoying the high copper prices as well as the optimism with the potential trade deal with the Chinese. As President Trump is in Vietnam meeting with The North Korean leader to help and possibly get rid of their nuclear missile testing, the news coming out of a nearby neighboring country of China has been very positive.
One of the things that we have talked about over the last month is having the tariffs that would go into affect on March 1 being the lead and that’s exactly what has happened. Let’s talk about that a little more below.
- $0.05 per lb- Average national price of copper increase week over week.
- $75 per barrel- What analysts are predicting that the oil prices will go up to (thats about 14% higher then right now).
- Unknown- The number of days that President Trump has suspended additional tariffs (this is a good thing).
Social Scrap from Our Facebook Group
This post has been one that we’ve been really excited to see and talk about. It shows different and innovative ideas this way when a scrapper is feeling that the tare weights are being taken advantage of that they can negate that by using different methods. Great Post to read!!!
Non-Ferrous Market News
With copper prices holding week over week we have seen the entire national average jump another five cents a pound. With their bright copper prices being reported as high as $2.61 a pound we have been able to see very strong numbers across the US and Canada. We are hoping that this tariff negotiation continues and we can continue to see rising scrap metal prices as well.
A few markets that have continued to remain weak have been the aluminum and nickel markets, but we have started to see the stainless steel market which is directly correlated to the nickel price is beginning to increase with a three cent average we go for a week. We hope that these positive pieces of news continue to pour in as they will only help the overall optimism and longevity of the markets.
Reported Non-Ferrous Scrap Prices (1/9 – 1/15):
|Albany, OR||Copper Transformers||$0.07 per lb.|
|Rockaway, NJ||Bare Bright Wire||$2.61 per lb.|
|Byhalla, MS||Car Batteries||$8.00 each|
|Albany, OR||Aluminum Radiators||$0.30 per lb.|
|Slidell, LA||Yellow Brass||$1.40 per lb.|
|Green Bay, WI||Christmas Lights||$0.08 per lb|
|Kansas City, MO||#1 Tubing||$2.40 per lb|
|Statesville, NC||#2 Tubing||$2.25 per lb.|
|Toledo, OH||Insulated Copper Wire||$0.45 per lb|
|Medford, WI||#1 Bare Bright Copper||$2.33 per lb|
|St. Hubert, Quebec||Aluminum Siding||$0.35 per lb***|
|Rockaway, NJ||THHN Wire||$1.51 per lb|
Ferrous Market News
The flooding and collapsing a part of the mind down in Brazil a month ago looks to be one of the major causes of the steel and iron prices increasing about $30-$40 per ton on average over the last month. We have heard that the market is going down another $10-$20 per ton in the next week or two, but some even are predicting that the end of March and beginning of April to see another increase coming into affect
A lot of the news is going to hinge on continued positive and trade strengthening talks between the US and the Chinese. We are continuing to watch, listen, and pay close attention to where all of these prices are going.
Reported Ferrous Scrap Prices (1/9 – 1/15):
|Calgary, AB||Shreddable Steel||$80 per ton***|
|Carroll, IA||Light Iron||$120 per ton|
|Ames, IA||Shreddable Steel||$20 per ton|
|Cleveland, TN||UPPD P&S||$100 per ton|
|Albany, OR||Die Cast||$0.10 per lb|
|Albuquerque, NM||Shreddable Steel||$50 per ton|
|Toledo, OH||Shreddable Steel||$135 per ton|
|Green Bay, WI||Sheet Iron||$120 per ton|
|Newark, NJ||Light Iron||$115 per ton|
|Rockaway, NJ||Cast Iron||$0.08 per lb.|
|Newark, DE||Steel Turnings||$25 per ton|
Aluminum has continued to be nothing but bad news and the prices have reflected that. We have not seen a positive market in a long time and it has been very hard to get any type of good news even with the positive trade negotiations. We continue to watch, monitor, and I hope that these markets increase like the other ones will as well.
Let us know any thoughts that you have for questions that we can help answer so that we can continue to help you grow as you help us grow. Thanks and scrap you later!