Things Aren’t Looking So Good… 7/10/19

 

Jump To Non-Ferrous Prices

 

Jump To Ferrous Prices

Well, this doesn’t look like it’s going well. With the market dropping $0.10 over the last week, we have seen a rapid decline in the copper pricing. With the market, being a bit of a flux and the iron market decreasing as well, it’s been a very tumultuous few weeks; if not three months.

Quick Numbers

  • $0.10 – Copper per pound drop.
  • $10 Per Ton – Steel market drop.

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Non-Ferrous Market News

After the meeting between President Trump and the Chinese in Japan a couple of weeks ago, we were very optimistic that the market would show an uptick. Sometimes no news is good news, but it looks like right now no news is bad news, as the market has dropped $0.10 per pound on the copper side of things. 

The aluminum market has continued to weaken with price’s declining week after week, with very low demand out there for most non-ferrous materials like brass, copper, and aluminum. The stainless market has continued to be crushed this year as the prices have been at multi-year lows and we have seen copper now dipping to multi-year lows, as well. Don’t be surprised to see a further drop in the copper market, as the pricing does not seem to be improving anytime soon.

Reported Non-Ferrous Scrap Prices (07/03 -07/09):

Location

Material

Price

Blair, WI Insulated Copper Wire $0.90 / lb
Rockaway, NJ #1 Bare Bright Copper Wire $2.25 / lb
East Jordan, MI Sheet Aluminum $0.15 / lb
Anniston, AL Brass $1.20 / lb
Van Buren, AR #2 Copper Tubing $1.85 / lb
Georgetown, TX Ballasts $0.05 / lb
Greeneville, TN #1 Copper Tubing $2.25 / lb
Deland, FL Bronze $1.45 / lb
Sterling, VA Aluminum Cans $0.20 / lb
Wilmington, DE Stainless Steel $0.22 / lb
Bluefield, WV Aluminum Siding $0.30 / lb
Toronto, Ontario* #1 Bare Bright Copper Wire $2.40 / lb
CHECK CURRENT PRICES

Ferrous Market News

With iron ore at record highs, we have seen the scrap iron market become really flattering lately. The overall market has not been doing well and we have continued to see more drops in steel, iron, and other grades of metal over the last week.

These markets will continue to be struggling, as the lack of demand for scrap imports and exports has really been in a decline for the last three months and until we hear about some type of a solid trade deal, we will be in for a rough time for the rest of the year.

 

Reported Ferrous Scrap Prices (07/03 – 07/09):

Location

Material

Price

Lecanto, FL #1 Steel $100 /ton
Rockville, MD Cast Iron $70 /ton
Moyock, NC Shreddable Steel $0.04 /lb
Russellville, AR #2 Heavy Melting Steel $7.00 /CW
Chicago, IL #1 Steel $24 /ton
Gonzales, TX Cast Iron $60 /ton
Santee, CA Unprepared Cast Iron $20 /ton
Madison, SD #1 Steel $20 /ton
Omaha, NE Cast Iron $60 /ton
Monroe, MI Light Iron $90 /ton
Minneapolis, MN #1 Steel $90 /ton
CHECK CURRENT PRICES

Other Markets

The catalytic converter market has been doing very well recently, as we have continued to see prices at near to record all-time highs. With palladium, platinum, and the rhodium price continuing to climb higher and higher we have seen the catalytic converter market increasing month over month for all of 2019. If you’re looking for higher prices, there are multiple options and you can go to www.rrcats.com for an idea on more pricing.

Thank You.

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– Tom


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