Weekly What’s Update: Steel Dropping Again

Hey iScrappers!

We hope that you are staying safe with all of the snow in many parts of the country and you are finding all types of scrap out there. With the market in limbo and all over the place let’s dive in a little deeper, today starting with steel and iron.

The ferrous market continues to get brutalized in 2015. The steel prices are at one of the lowest points in 5 years and we are reading more information that they are going to be going even lower. With prices dropping 50% since August 2015 we are expecting to see even more of a price drop in steel. The market seems to be holding out for some type good news…but bit seems that the only type that has been coming lately has been bad.

On the copper and aluminum side of things we have seen a bit of a holding pattern in the market. Copper has moved a few pennies up and down each day, but nothing too significant to report on. Aluminum has been fairly steady with the market going up a couple of cents, but not enough to see a big jump at the scales.

Gold has gone down in the last week, dropping about 3% meaning that electronic prices will also be falling.

In the general economy the price of oil has gone up with gas prices following. We have seen about 7-8 cents added onto the per gallon price of fuel and speculations are that that will increase a little more. There are multiple economists that have predicted multiple different things on the oil market, some saying oil will go as low as $30 per barrel with others saying it could spring to $200 per barrel. With the current price hovering around $50 per barrel, the price of oil will have a big effect on scrap and metal prices.

Scrap ya later!

  • Bare Bright: $1.90-$2.15
  • Copper Pipe: $1.50-$2.00
  • Clean Brass: $1.20-$1.45
  • Insulated Copper: $0.70-$1.75
  • Aluminum Sheet: $0.36-$0.51
  • Stainless Steel: $0.37-$0.45
  • Aluminum Cans: $0.35-$0.55 (Not CRV Pricing)
  • Light Iron: $100-$165 per ton

Prices as of 2/11/15

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