SELL: Aluminum, Steel & HOLD for Copper – 11/10/21


Who’s ready for November?

Markets seem to be going back-and-forth, trying to figure out what the heck is going on like everyone else. After a fresh round of $1.2 trillion got passed and will be getting ready to be signed into law, many people are going to be asking how the infrastructure package will affect Scrap. The answer is relatively no impact. There will be more of an effect on the labor market, and they will be on the scrap market by far. 

Meanwhile, other metals like copper have stabilized over the last 12 trading days, which has been a positive sign, and aluminum prices have also continued to show the high prices are lasting going into the end of the year.

Non-Ferrous Prices & Market Status

  • Copper – HOLD

  • Aluminum – SELL

  • Brass – SELL

  • Copper Wire – HOLD

  • Stainless Steel – SELL

Watch out for the oil price, with some market predictions having the price going from $80 a barrel up to $120 a barrel this winter. That will cause a massive fuel and transportation increase which will hurt the market, including Scrap. High oil prices can be good for the scrap industry; super high prices are not suitable for anyone, but that happens when you have different political shifts. 
One of the good things about oil prices has been the increased demand for electric vehicles, charging stations, and the continued use of a lightweight but solid and durable metal called aluminum. While some policies can hurt, others could help and create more industry demand for nonferrous metals than is already there.

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

As we mentioned earlier, we have seen oil prices increasing, which has also led to steel prices going up again. We’ve seen at least $30-$50 per ton added over the last eight weeks, and it does not seem to be having that price disappear anytime soon. We might have hit the market floor back in August meeting at pricing moving forward, Will remain strong, and demand will remain there.

Ferrous Price Chart of the Week

Catalytic Converter Prices & Market Status

  • Catalytic Converters – SELL

Cat prices are up over the last few weeks, but we see an amusing market taking place. We have routinely seen price increases and decreases between 2-4% multiple times and three precious metals that affect the catalytic converter markets. These wings and prices will not affect one catalytic converter pricing in a significant way. Still, when you’re selling multiple at a time, that price increase spread across many cats will make a substantial difference. We still recommend selling as the markets are still very high after the bottoming out that we saw during the summer.

Thank You.

– Tom


Other Valuable Resources 

Ready To Scrap Your Car?