**All iScrap App Versions Have Been Updated!**
Ho Ho Ho!
With the markets calming down (even with steel down slightly) we are still looking at a very Merry time of the year. We have seen copper recover after the small dips a few weeks ago and overall going into Christmas and what is traditionally a slower time of the year we are happy with the results.
Going in January we do expect to see more letdowns on the steel prices but that should recover by March. One big thing to look at is the Turkish market as their currency has taken a hit as has their economy.
Copper – SELL
Aluminum – SELL
Brass – SELL
Copper Wire – SELL
Stainless Steel – SELL
Non-Ferrous Price Chart of the Week
#1 Steel – HOLD
Shreddable Steel – SELL
Light Iron – SELL
Cast Iron – HOLD
Complete Car – SELL
With the markets off again the last week we do expect to see more of this going into January. A lot of pricing discrepancies and problems are based on domestic furnaces and processors having an oversupply of material on the ground. There is a lot of scrap that was generated that cannot find a home and that is adding to a lot of the problems that we are seeing on the pricing side of things.
The New Year will bring new problems as one of the world’s largest consumers of steel, Turkey, is going through some currency and financial issues which could lead to further pricing disruptions.
Ferrous Price Chart of the Week
Catalytic Converter Prices & Market Status
Catalytic Converters –SELL
With the markets having a great recovery we have seen an up and down run by Palladium. The markets have finally caught up to where they were a month ago and we are happy by the uptick. Now is a great time to be able to sell with the higher prices as they will continue to stabilize as both the auto and chip manufactures begin to catch up. We heard that there will still be a delay in 2022 but predictions are that by the end of the year we will have all supply chains going at full steam.
We wish you a Merry Christmas and a Happy New Year. We hope that you have a safe holiday season and are looking forward to learning about your needs and how we can help you learn more about the scrap markets in 2022.
Other Valuable Resources
- Last Week’s Report: Despite Strong Prices, HOLD Catalytic Converters
- The Best Wire Strippers for Scrap Copper Wire & Cable
- Why Some Scrap Yards Don’t Change Prices