SELL: Is A Pullback Coming To Scrap Prices? – 4/13/22

HOLD OR SELL NON-FERROUS
HOLD OR SELL FERROUS

Everyone wants to talk about how good the markets are and how strong they are. While these things are very true right now, things to look for are fast approaching as we see more and more numbers going up in the wrong direction. With increased fuel consumption and fuel costs taking a toll on Scrap operations, we see a little bit of a pullback in the steel market.

On top of that, we are watching these markets very closely as we start to expect a pullback going into the summer to correct some of the quick increases we saw in the last few months. Oil and fuel prices will continue to have a heavy impact on this. None of this is news, but the information becomes a justification for scrap prices moving up or down.
 
You probably are tired of repeatedly hearing the same thing from all types of media outlets or even from this report. Still, when things are happening that will impact you and the Scrap market, you have to be able to discuss them openly.
 

Non-Ferrous Prices & Market Status

  • Copper – SELL

  • Aluminum – SELL

  • Brass – SELL

  • Copper Wire –SELL

  • Stainless Steel – SELL

Copper prices have been unchanged over the last seven days. We did start to see the markets having a decrease on Monday but overall, that did not stick as markets jumped on Tuesday. These markets are reacting to different economic and world environmental concerns, but they continue to push forward in very powerful ways. After talking to multiple economists and major copper traders over the last two weeks, we have learned that the desire for red metal does not seem to be waning in any way, shape, or form.
 
The consumer demand for more products and goods coupled with more homes being built across the country as our population expansion proved that we need more copper moving forward. We expect a pullback in the copper prices as the economy reacts to more inflation and external threats from other countries.

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

After a month and a half of nothing but up markets, we finally start to see markets pull back slightly. Over the last few days, we have seen steel prices decreasing about $40-$50 per ton, with more decreases spreading throughout the country over the next few weeks. Depending on location, some areas of the country will be hit with these price decreases faster than other States will see.
 
But we talk to many people who know about large stockpiles of high-grade steel scrap that have been stored across the country and are starting to get pushed into a different domestic Mills. That does not surprise us as high steel prices will bring how many people are storing material waiting for the price to go up. 
 

Ferrous Price Chart of the Week

Catalytic Converter Prices & Market Status

  • Catalytic Converters – SELL

Prices on cats seem to be just pushing right along with very steady numbers. We have seen small changes in the markets, but overall the markets have been very strong. One of the biggest things that have been getting attention paid to it is what’s going to happen to the future of palladium prices as the Russians continue to be sanctioned and expelled from many parts of the world economies.
 
With the Russians providing so much of these precious metals, we may see these catalytic converter prices remain propped up for the first seeable future with a market that will continue to have strong prices and stability. If you’re looking to ship your catalytic converter to a buyer that always is buying material regardless of whether the markets are up or down, please try using www.RRCats.com and their free shipping on all OEM catalytic converters. 

Thank you, 

We know the markets are tricky to navigate, and some people don’t have scrap yards that give them transparency the way you may want it otherwise. Learning about the needs is more than just learning about the actual pricing of copper or brass or steel; learning about the needs means that you were learning about where prices are originated and from where they come; these are the pieces of information that will continue to give you the tools to help you learn, and become more educated overall. Let us know if there’s anything else that we can talk about, type about, or take videos on, and we will do just that.

Thank You.

We have a couple of videos and podcasts that feature some interviews with family inside the Scrap business and with Scrappers. If you’re looking to be featured, interviewed, or even interview any of the people at iScrap, let us know so we can get it together.

– Tom

 


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