Trouble Ahead for Steel? We say HOLD. – 12/22/21

Posted on by Virginia Buechel

**All iScrap App Versions Have Been Updated!**

HOLD OR SELL NON-FERROUS
HOLD OR SELL FERROUS

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. 

Non-Ferrous Prices & Market Status

  • Copper –  SELL

  • Aluminum – SELL

  • Brass – SELL

  • Copper Wire – SELL

  • Stainless Steel – SELL

With the markets recovering to levels we saw two weeks ago we think that it is a great time to unload your scrap that you have been holding onto. With markets high, there is no reason to try to squeeze out a few more dollars of profit when you have the ability to clear out your garages and get ready for a fresh start to 2022. 

Non-Ferrous Price Chart of the Week

 

Ferrous Prices & Market Status

  • #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. 

Thank You.

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.

– Tom

 

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