We have read some good articles in the last few days talking about why the market has gone all over the place. The copper market has seen a bit of a recovery, around $0.05 per lb in the last few days….but the reason that it has dropped down is the strong value of the US Dollar along with lowering fuel costs.
On the Stainless Steel side, China’s demand for Nickel based alloys has gone down recently after finding a large stockpile of nickel at one of their ports. Stainless and nickel prices have dropped around 20-25% in the last few months, but it won’t surprise us to see them drop even lower soon.
Steel has stabilized after the drop that we saw in the last month, and the levels of prices seem to be still in a stronger position.
Anything else that you want us to update you on please let us know…until next week, Scrap Ya Later!!!
Prices as of 10/15/14
- Bare Bright: $2.35-$2.75
- Copper Pipe: $2.15-$2.65
- Clean Brass: $1.40-$1.75
- Insulated Copper: $0.80-$2.05
- Aluminum Sheet: $0.36-$0.51
- Stainless Steel: $0.41-$0.60
- Aluminum Cans: $0.35-$0.55 (Not CRV Pricing)
- Light Iron: $160-$215 per ton
While the news of copper slightly recovering is a good sign, keep in mind that an economy has a lot to do with the scrap markets, but aren’t necessarily related. Read up on what factors determine the scrap prices in the industry.