This Week’s Scrap Metal Prices & Market News

Posted on by Tom Buechel

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After Continuous Climbs, Steel Drops

ALSO: Copper Is Steady…Still.

Report Date: 3/29/23

Hey Scrappers!

Another week for scrap and another week of small movements- just the way we like it going into the rest of the week. Looking at the market, we started to look beyond some of the numbers that were seen today and reached out to some of the numbers that we may be seeing in the second half of this year and going into 2024 and 2025. I will touch on that later with some of the copper markets in some of the prices 

Today we will have a new feature, the scrap story of the week. I will share one of the stories I have from the scrap world during our weekly video, so make sure you turn it in and click to hear this week’s story.

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Non-Ferrous Prices & Market Status

  • Copper – SELL

  • Aluminum – SELL

  • Brass – SELL

  • Copper Wire – SELL

  • Stainless Steel – SELL

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Unchanged Prices – Not Terrible

Copper prices are unchanged week over week. We’ve seen the market have a tiny movement. If anything, we gained a couple of cents compared to last week. This is an excellent sign, considering the significant trends we saw at the beginning of the month. As we finish the first quarter of 2023, we hope to see these markets progress in spring. All reports that we have been reading show that the supply of copper is still not reaching the demand for copper. This shows a supply shortage and should help to keep the prices at this level, if not moving upwards. 

One area we will watch is the Chinese and Russian trade agreements, which could negatively move the markets in the coming months. If Russia continues to do more business with the Chinese and starts to supply them with some of the copper and other metals they mine, we will see an impact in the market, probably on the opposing front. The Russians have had a hard time moving many of their commodities, and if we start to see the trade agreements picking up between those two countries, we could see the prices moving down throughout 2023. 

Aluminum markets have weakened over the last 30 days, with an oversupply of materials reported. On top of that, we’ve also seen a pullback, and some production, as an overall lack of demand, has affected the market significantly. We started to see prices dropping between $0.03-$0.05 per pound.

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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

SEE ALL PRICES

Steel Starts To Fall

After a nice market run-up over the last few weeks, we have started to see iron prices having a slight downward movement. We noticed some price decreases at five to $10 per ton, with the new version of the iScrap App coming out in the coming weeks. You’ll be able to report more of your steel prices online, and I will help you no more about the markets overall from scrappers’ point of view.

Oil prices have fluctuated over the last few days and weeks. This has led to more uncertainty in the steel market as many furnaces still operate on fossil fuels.

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Ferrous Scrap Prices

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Catalytic Converter Prices & Market Status

  • Catalytic Converters – HOLD

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Markets have stabilized over the last week, but we still see multi-month loads for the catalytic converter market pricing. These price decreases have something to do with the slowdown in the economy and the demand for new cars starting to taper off. The great pent-up demand from 2020 supply chain disruptions seems to be fixed.

Overall, as cars are running off the car lots quickly; the problem is that the significant run-up in the catalytic converter prices was not only due to the car supply problem but also the Russian invasion, and after one year, it seems like that has not helped the cat prices.

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

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.

The lithium-ion space continues to heat up as we talked to two more people over the last week, ramping up production on the Recycling side. Large-scale recycling of these and other specialty batteries still seems to be years away, but that could approach quicker than we think.

In addition, we’ve been reading many articles about repurposing plastic recycling, and many scrap yards will not get into the plastic business; it could become more prevalent over the coming months and years.

That’s it for today. If you want to hear a good story about scrap, please watch our broadcast on YouTube and comment below with any questions or other things you would like us to discuss.

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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