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Copper Remains Steady at $4
ALSO: Steel Continues To Climb
Report Date: 3/22/23
We’ve been watching markets closely, and we will be interested to see what happens with some interest rate cuts this afternoon. We started seeing a resurgence in the commodities market, with gold leading over the last few days.
On the other hand, Copper has had a very steady week hovering around the four dollars per pound mark on the trading side of things. We will bounce into that much more.
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Non-Ferrous Prices & Market Status
Copper – SELL
Aluminum – HOLD
Brass – SELL
Copper Wire – SELL
Stainless Steel – SELL
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Copper Hovering Around $4
Copper prices steadily ran over the last few weeks, with trading numbers hovering in the $4.00 range. We think these are Copper prices and have had a steady run over the last few weeks, with trading numbers hovering in the $4.00 range. We also think these prices will be high for the rest of the year, and as we read many comments inside the YouTube videos and our channel, we’re starting to see that people are cashing in instead of holding as they were for a long Period.
Brass prices have also had a nice run, with yellow brass between $1.90 and $2.15 over the last few weeks. We’ve seen the reported prices coming in, and in the coming weeks, we will have better national averages to show you what other people are getting all over the country.
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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
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Steel Climbs Up To $70 This Week
Steel markets have had one of the strongest runs in the last few weeks that we have seen. With iron or prices continually having increasing demand and increased price, we have started to see the price of scrap materials increasing. Over the last few weeks, we’ve seen a total of $50-$70 per ton added into these different markets, and that has been one of the strongest runs we’ve seen in the last six months. While the steel demand may be waning as recessionary fears persist, we are currently seeing strong demand as many mils are not getting the base material they need to feed their furnaces.
We’ve also seen oil prices in the $70 per barrel range, which has decreased fuel consumption and costs, which have been passed on to the Scrap side of things. Moving forward over the next few months, we expect to see a very strong market with prices continuing to stay in the ranges we have right now, if not higher.
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Ferrous Scrap Prices
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Catalytic Converter Prices & Market Status
Catalytic Converters – HOLD
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Prices have declined over the last few months, and this trend looks to be continually progressing. While metals like platinum have had a very solid run, a lot of that is because auto recyclers are using more platinum inside of their catalytic converters than palladium because of the massive price increase over the last few years. As we move forward, we’re hoping to see these markets continuing to slow down and have some stability. Has prices have been very sporadic and on a downward trajectory.
On top of that, many states across the United States are creating more laws to help curb catalytic converter laws, which is very positive. We have seen thefts decreasing as prices have decreased and laws increasing to help prevent future problems.
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 contact someone at RRCats.com.
10-Day Price Lock for Catalytic Converters
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.
Once the biggest talk of the town, lithium prices have started to decrease. Now that the demand has weakened, the supply chains have been strengthening, and the costs have been cut down. On top of that, we’ve seen more investments in the mining sector worldwide that have started to increase the lithium deposits being mined. The hardest part? How to recycle them.
We’ve been attending online and in-person conferences and talking to large specialty Battery Recyclers nationwide. Many of these recyclers don’t know how to properly recycle these batteries in small quantities as they generally focus on large quantities of 10,000 pounds or more coming into their facilities.
We also talked to 10 scrap yard owners over the last few weeks about how they accept and process different batteries from hybrid and electric vehicles. Many have said that they are not buying or taking them because of the potential of fires and the lack of channels for recycling them. This looks to be a trend that is going to be one of the hardest things to figure out as the spent batteries are going to start to flow into auto scrap yards and auto wreckers in the coming years in a very big way. This scares the auto and recycling industries because of increased safety and liability concerns.
We will continue to look into these markets, and as we learn more about them, we will educate you both on recycling them properly and figuring out how they get priced out. Thanks. We are always looking for topics to talk about and do videos on, so if you have any ideas, please don’t hesitate to reach out to the team, and we will get those going. Have a great week, and I will scrap you later.
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Basics of Scrapping:
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Advanced Scrapper Resources:
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