SELL: Across The Board for Steel, Iron – 11/3/21

HOLD OR SELL NON-FERROUS
HOLD OR SELL FERROUS

Spooks gone. Prices didn’t run.

We hope that everyone had a nice Halloween and is ready for the last couple of months of the year. Fortunately, we have not seen much market movement on the red metal side over the previous week, as the materials have leveled themselves out. Still, we are looking for January numbers coming out. Many traders are now trading off of numbers based out in March, restricting some dealers because of the significant pricing change that we saw over the last few months.

The one nice piece of news that we saw has been out of the iron market, with prices for scrap going up between 10 and $20 per ton over the last two weeks. We’ll talk more about that later.

Non-Ferrous Prices & Market Status

  • Copper – HOLD

  • Aluminum – SELL

  • Brass – SELL

  • Copper Wire – SELL

  • Stainless Steel – SELL

With these five groups of materials, all still being a perfect selling point, we’re focusing on the stainless steel market increasing over the last few weeks.

Copper prices are relatively calm, which is a good thing, and we suggest holding on to see what happens over the next two weeks.

Non-Ferrous Price Chart of the Week

 

Ferrous Prices & Market Status

  • #1 Steel – SELL

  • Shreddable Steel – SELL

  • Light Iron – SELL

  • Cast Iron – SELL

  • Complete Car – SELL

With the iron prices increasing the highs that we saw earlier in the summer and springtime, we’re happy to see the markets improving. Those markets have shown to have a $30-$50 per ton increase overall the last month and a half, and we suggest moving some of your material, especially before the cold weather comes.

Ferrous Price Chart of the Week

Other Metal Markets – Aluminum

The aluminum markets have still been the belle of the ball in all of 2021 as they’ve continued not only to kit the aluminum cans back into the recycling bin but also to keep the positive trends moving. 

Catalytic Converter Prices & Market Status

  • Catalytic Converters – SELL

With all metal markets being up for platinum, palladium, and rhodium, we have seen a positive increase in the markets over the last two weeks. On top of that, shipping has become accessible for almost every person getting quoted through RRCats.com

Thank You.

We’re going to be watching some of the changes that will come out of one of the agreements made in Europe about lifting the steel and aluminum tariffs that were coming in from the European countries. This could be a game-changer in the coming quarters as we see prices decreasing possibly.

– Tom

 


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