Hopefully, everyone has started to get adjusted to these copper and brass prices being lower than most people would like or expect. It looks like moving forward for the next few months and possibly for the next year or so we are going to see similar prices unless we see a major trade agreement shaping place.
With a meeting going on right now at the United Nations and so many country leaders getting together you would hope to hear some type of positive news but right now it seems like they are focused on climate and other political problems.
A major political leader, the president from China, is missing from the united nations congregation so we will not see any in-person meeting between the United States leaders and the direct Chinese leaders.
- 6.5% – Talk about swings, oil prices swung the other day 6.5% and seem to be having daily larger fluctuations.
- $0.00 – The amount that the copper market changed in the last week- talk about weird.
Social Scrap from Our Facebook Group
Retirement from real work…to start scrapping, that is our kind of guy. Congrats on the retirement David and welcome to the scrap world. Reading his paragraph and comments on scrapping and how this group and the iScrap videos helped make us smile.
No Move For Copper…
In a surprising market the last few days we have not seen the copper prices move at all this week and going back as far as early last week. With the market being relatively flat, overall we have seen very little news coming out of the Chinese and US negotiations.
With the meeting happening in person in October that will be a perfect indication of how these trade talks will go. We have now heard from the presidential administration that they are not looking to make mini partial deals, but only one major deal that encapsulates all problems inside of these trade tariffs and back and forth between the United States and China. Well, many think that there are multiple right answers and that there could be different solutions that will appeal to different countries, it seems like the United States has taken a hard line in the sand and is looking to complete an entire trade deal instead of a partial one.
Reported Non-Ferrous Scrap Prices (9/18 – 9/24):
|Hickory, NC||Lead Batteries||$0.20 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.26 / lb|
|Brighton, MI||Communications Wire||$0.45 / lb|
|Oakland, CA||Brass||$1.45 / lb|
|Billings, MT||Aluminum Copper Coil||$0.55 / lb|
|Venice, IL||Aluminum Cans||$0.35 / lb|
|Baytown, TX||#2 Copper Tubing||$1.70 / lb|
|Stanton, TN||Compressors||$0.08 / lb|
|Fort Wayne, IN||#1 Bare Bright Copper Wire||$2.00 / lb|
We Don’t Like Bad News…
If you don’t like bad news then stop reading and skip this section. The steel market continues to be in a decline with another $10-$15 per ton coming off of the bottom line in the last few days. We have talked to yards across the United States and it seems that the hardest hit ones are in the middle of the country that have a far distance to travel to be able to deliver their iron, light iron, shred material and other grades of ferrous metal’s.
With not much of an end in sight, we are looking forward to some type of positive news and it might have to wait until these trade negotiations begin to take shape in a more positive form. As the Chinese are producing a lot of the world steel we have to see what happens moving forward.
Reported Ferrous Scrap Prices (9/18 – 9/24):
|St. Paul, MN||Shreddable Steel||$65 /ton|
|Springfield, IL||Scrap Iron||$60 /ton|
|Kaukauna, WI||Tin||$0.01 /lb|
|Monroe, NC||Sheet Iron||$0.03 /lb|
|Philadelphia, PA||Light Iron||$0.035 /lb|
Gold prices have remained relatively steady and the Palladium, Platinum, and Rhodium markets have also improved over the last week making the Catalytic Converter prices more attractive than ever. We are looking at all possibilities of different metals increasing and decreasing week to week and we have seen very little overall movements.
We don’t like reporting negative news week over week, but unfortunately, it’s just where the market is right now. Hopefully next week we can see some type of an indication of more positive news, but as of right now we are in a wait and see mode. With almost 9 months of the year in the back window, we are hoping to see some positive changes happening moving forward, but we continue to be hopeful for a trade agreement to take place otherwise we are going to see prices right now for a long time.
- How Low Steel Prices Affect Jobs
- What Are Metal Tariffs & How Do They Affect Scrap?
- How Do I Sell My Scrap Catalytic Converter?