This Week’s Scrap Metal Prices & Market News

Posted on by Tom Buechel

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Copper Drops, But Longterm Looks Good

ALSO: These Banks Are Making Us Nervous

Report Date: 3/15/23

Hey Scrappers!

With the March Madness basketball tournament starting, we hope you have some time to check out what is happening!

\After watching the markets for the last few days, we’ve seen some signs of strength in commodity prices. We have seen copper prices restore themselves to a solid state over the last seven days, and we started to see the cost of steel increasing as well.

Some people ask us what we think about the Ukrainian conflict and how that will affect scrap markets. Those two things will not be as closely aligned as many think, as the large world dictates the needs, so demand and the country’s struggle with Russia will not significantly impact it.

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Non-Ferrous Prices & Market Status

  • Copper – SELL

  • Aluminum – SELL

  • Brass – SELL

  • Copper Wire – SELL

  • Stainless Steel – SELL

SEE ALL PRICES

Copper Prices

We’ve been looking at projections and forecasts for different copper consumption, and some positive things have come out of it. Right now, many of the articles we are reading are talking about a significant undersupply of copper compared to the amount that will be needed. They’re predicting that every year we could have 7 to 10% less copper than is needed from now until 2030.

What does that mean for Scrap?

That will continue to lead the price at high points compared to the past models. These markets are very strong, and as the electric vehicle market and solar pick-up steam even more, we expect to see the prices climbing and staying solid for the foreseeable future. Some of the problems we may see could be from an under-supply standpoint, pushing some prices further. 

We’ve been tracking some different mining companies and operations across the world. As many of them are continuing to ramp up their production of copper, or we still see large deficits taking place.

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Suggested Reading: Tom’s Top Picks: Best Tools for Scrapping

Non-Ferrous Scrap Prices

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Ferrous Prices & Market Status

  • #1 Steel – SELL

  • Shreddable Steel – SELL

  • Light Iron – SELL

  • Cast Iron – SELL

  • Complete Car – SELL

SEE ALL PRICES

Strong Steel Prices

This is a market that has confused us over the last few weeks. We expected to see a price decline, and we started to see a price increase. Even though last week we saw a minor pushback. Overall, we have seen the prices up with light iron price has been reported between $150 and $230 per ton.

With some energy prices taking a little more stable ground, we hope to see these markets create more stability over the coming months, leading into the spring and summer, where prices generally shoot up.

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Ferrous Scrap Prices

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Catalytic Converter Prices & Market Status

  • Catalytic Converters – SELL

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We have seen a nice increase in the price of cats over the last few days, with prices up about 10%. One of the reasons was the bank collapse in California, and New York pushed some of the commodity prices upwards as a place to store money that tends to be safer.

We have seen the average price increase by about $8 per cat, which is a strong sign.

The team at RRCats has continued to hold pricing for quoted catalytic converters for ten business days and free shipping on all OEM catalytic converters. If you want to learn how it works, please get in touch with someone at RRCats.com.

10-Day Price Lock for Catalytic Converters

Boosted Catalytic Converter Prices at RRCats

For a price lock of 10 days, don’t hesitate to contact RRCats.com Team for a better idea of catalytic converter markets and free shipping on OEM cats.

Let us know what other information you would like to go about or topics you would like us to discuss so we can integrate those into our weekly reports.

Thanks for tuning in this week; please check out our weekly report every week, as well as many of our other YouTube videos that can teach you about the markets, including prices, qualities, and other things about Scrap.

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