Time To Cash In With Copper & Steel Up – 9/19/18

Hey Scrappers!

#EatSleepScrap!!! Stand up because we have seen the prices jumpppp!!! We have finally seen some positive news swinging in the scrappers favor with copper and steel prices climbing. While we have seen more news about tariffs hitting the area, we still have seen more and more price jumps with online price reporting jumping as well over the last week. 

With the markets finally show some signs after the positive economic news, we are hoping to see this train continue to push forward and our fingers are crossed 🤞that we have seen the market bottom out. We have seen steel prices rise about $7 per ton on all grades of steel and we will go into that shortly.

Quick Market Stats

  • Copper up $0.09 per lb over the last week.
  • DOW Jones up 385 over the last 5 days.
  • Gold – $1,209 per ounce (At 30-day highs)

Scrapper Talk – Catch Up From Our Facebook Group

Here are some of the popular topics and comments from the last week:

Electric Motor Dismantling

“I cut one end clear off with a hacksaw and tapped the cut ends with a hammer. Then used a small pry bar and wiggled the windings up and out. It doesn’t happen too often but I got lucky on this one.” -James W.

“Every motor I’ve tried to take apart fights me. Never had one come apart like that.” -Willis J.

Suggested Reading: Why Electric Motors Are Tough To Scrap

Tool Talk: Saw Blades

Question to the Scrap Community

How do yall like these? Just got them at the home RIP off for 16 bucks. Gonna try them out this afternoon on some ac units.” – Brandon B.

Answers

“I had really good luck with them.” -Jason I.

Ive had good luck with the diablo blades, the more expense ones with the carbide teeth even work better, but much pricier.” -Steve L.

“So far I like them better the dewalt and lennox.” -Stavros K.

“Best I’ve found. I’m in construction and scrap on side.” -Trey G.

“I used them when gutting my house. Used only two blades for the whole thing mostly cut wood with nails and plaster. But where better then anything else I used.” -Anthony J.

“Sometimes Amazon is cheaper then Home Depot.” -Steve M.

“Good blades usually buy a 50 pak when you can find them.” -Rich H.

Most Liked Post

Have You Checked Out Our Facebook Group?

Non-Ferrous Market News

With another round of tariffs set to go into effect, we actually saw less of a tariff percentage was intended on – and saw copper jump because of that. We are happy that the markets have had an uptick, and after they stabilized for a couple of days we saw the overall national reported prices increase. 

Remember it takes a few weeks to be able to really see things materialize and sort themselves out and we are in a waiting process. With the tariffs and lack of communication with the Chinese still in full swing, we continue to be in a very turbulent market. Hopefully, we can see more talks talking place and potentially happening as the communication between the US and China hopefully increases.

Reported Non-Ferrous Scrap Prices (9/12 -9/18):

Location

Material

Price

Wellsboro, PA Yellow Brass $1.35/lb.
Rockaway, NJ #1 Bare Bright Copper Wire $2.37/lb.
Greenfield, MA Car/Truck Batteries $0.22/lb.
Edmonton, Alberta* Clean AL Wire $0.45/lb.
Caneyville, KY Insulated Copper Wire $1.05/lb.
Union City, TN #1 Bare Bright Copper Wire $1.90/lb.
Odenton, MD AL Extrusion $0.60/lb.
Oakley, CA #3 Aluminum $0.40/lb.
Columbus, IN #1 Copper Tubing $1.00/lb.
San Jose, CA #2 Copper Tubing $1.50/lb.
Spartanburg, SC Aluminum Siding $0.40/lb.
Johnson City, TN Computer Wire $0.41/lb.
La Grande, OR Stainless Steel $0.15/lb.
Byhalia, MS Insulated Copper Wire $0.40/lb.
CHECK CURRENT PRICES

Ferrous Market News

With steel prices finally jumping we saw increase anywhere from $5-10 per ton on multiple grades the last week. We saw steel prices jump and we tried to go over a few reasons why the markets are what they are right now. 

[Part 1] Scrap Tariffs Explained
[Part 2] Scrap Tariffs Positive Solutions
[Part 3] Scrap Tariff (Negative Scenario)

We try to always talk to people and learn about the markets and how they are going to turn and these videos have helped explain a lot of what is and could go on going forward.

Reported Ferrous Scrap Prices (9/12 -9/18):

Location

Material

Price

Glen Burnie, MD Shreddable Steel $40/ton
Manassas, VA #1 Steel $0.05/lb.
Perryton, TX Light Iron $40/ton
Warren, MI Shreddable Steel $160/ton
Omaha, NE Scrap Iron $140/ton
Knoxville, TN Light Iron $95/ton
Hot Springs, AK Shreddable Steel $100/ton
Danville, IL Light Iron $100/ton
CHECK CURRENT PRICES

Quick Numbers

  • $18 Billion. As in dollars worth of scrap exported in 2017. These tariffs are trying to cut down on that.
  • 750,000. The number of electric cars on the road in the US. 
  • 2025. Estimates that 14% of the cars on the road in the US will be electric by then. 

Let us know your thoughts and we would love to give you reactions and fill any scrap void that you have.

Scrap ya later!

 


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