Happy New Year iScrappers!
We hope that everyone is doing well, staying busy, kicking butt, and selling scrap (or holding if you have been watching the copper markets). With 2019 upon us we have not been able to start the year the way that we would have liked to- but it is what it is.
The markets have reacted in a tough way with the stock down, commodities down, oil up, copper down, steel down – well, you get the picture. Not much is up (other than some optimism from iScrap that we will get more information pushed out there!). Let’s get into it and we will be back with our LIVE session next week on January 9th at 1 pm EST.
Social Scrap Time
This made us smile- we love seeing people talk about scrap, how to make more money, how to sort and separate materials, etc. But today we saw that someone is going to make some shirts and bumper stickers made to represent the scrapping world- LOVE IT! Click to check out the link or click the picture below.
Let’s Let The Numbers Talk
- 15 Cents – Copper dropped that much since December 29th.
- 10 Years – The stock market had its worst year in 10 years- ouch.
- $24 per ton – How much steel prices have fallen over the last two weeks and it seems like the drops are going to keep on coming going into the rest of January.
With the markets reacting the exact opposite way that we would like, we are really waiting to see what is going to happen for the rest of the quarter- let alone the year. With the markets falling like they are, it is going to be tough to see what happens going forward for the next few weeks. A lot of negative news and a lot of what-ifs are going to prove whether or not 2019 will be a positive or a flat (not going to mention negative) year.
March 1st- that is the date that we should all have on our calendar and in the meantime, we will be waiting to hear all other news.
Reported Non-Ferrous Scrap Prices (12/26 – 1/1/19):
|Dartmouth, Nova Scotia||Alternators||$0.20 per lb.|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.30 per lb.|
|Anchorage, AK||Dirty Brass||$0.30 per lb.|
|Sheboygan, WI||Aluminum Engine Block||$0.17 per lb.|
|Billings, MT||#2 Copper Tubing||$1.95 per lb.|
|Gallipolis, OH||Romex® Wire||$1.10 per lb.|
|Lithia Springs, GA||304 Stainless Steel||$0.15 per lb.|
|Henderson, CO||Aluminum Breakage||$0.10 per lb.|
With oil rising, trade uncertainty still here, and a massive drop in prices-well, we don’t have much solid to report. There is so much going on that the markets are really very difficult to gauge right now. We don’t know how far the drop will be, how quickly it will happen, and if it will stabilize any time soon.
We will continue to wait for the March 1st deadline between the US and Chinese in trade negotiations because that will be one of the tell-tale signs on how things will shake up for the other three quarters of 2019.
Reported Ferrous Scrap Prices (12/26 – 1/1/19):
|Westport, MA||Shreddable Steel||$110/ton|
|South Beloit, IL||Sheet Iron||$100/ton|
|Palmdale, CA||Light Iron||$100/ton|
|Granite Falls, NC||Shreddable Steel||$80/ton|
|Flint, MI||Light Iron||$120/ton|
|Port Huron Township, MI||Shreddable Steel||$130/ton|
|Concord, NC||Light Iron||$40/ton|
|Lynchburg, VA||#1 Steel||$120/ton|
Gold has continued to shine (pun intended), and that is due to the stock markets falling, the trade problems, and further concerns that the markets are not going to recover anytime soon. Gold is generally one of the safe havens during uncertain times- and this time is not proving that theory wrong.
We wish that there was more positive 2019 news to start the year but this might be another rocky time for scrap.
Scrapppp ya later!