Gobble Gobble Gobble Scrappers!
We wish you, your family, friends, scrapping friends, and anyone else you know a very Happy Thanksgiving. With the holidays here we have been asked about if now is the best time to sell your material – the answer is, well we don’t know what the answer is. But let us help you try to figure it out by reading the newsletter below and don’t forget to share this with your other scrapping friends!
We are trying to include more outside financial information along with news that helps you learn more about the overall market, so let us know what you think!
- $48.90 – The average cost this year for a Thanksgiving meal (As reported by USA Today).
- $53.11 per barrel. The lowest price that oil has hit in 13 months and that has resulted in gas prices dipping to $2.62 per gallon for the national average.
- $0.07 per lb – Increase in copper prices over the last week- Hooray!
- 7 weeks – The number of weeks that steel prices have increased.
- With the 500+ point loss in the stock market, we have seen the stock market gains of 2018 completely erased.
We plan on posting some of the most popular posts about scrap talk every week, let us know what you think!
Some see junk- we see Treasure Hunting, thanks for the post James H.!
Non-Ferrous Market News
With copper jumping again the last few days even with the stock market tanking, we are watching for the meeting in Argentina like we have said for the last few weeks. This meeting, which many have VERY mixed feelings on, will be one of the most important dates in the metals calendar for the year. Many are predicting that we will be able to see either a large increase or decrease afterward, but now we have to wait and see.
Nothing over the last week has affected the market as it has stayed relatively even and even with the stock market and oil prices dropping we have been in a strong position.
Reported Non-Ferrous Scrap Prices (11/14 – 11/20):
|Oklahoma City, OK||Stainless Steel||$0.30 per lb.|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.45 per lb.|
|Hayward, CA||Clean ACR||$0.90 per lb.|
|Amarillo, TX||#1 Bare Bright Copper Wire||$1.80 per lb.|
|Cocoa, FL||Aluminum Rims||$0.20 per lb.|
|Hammond, LA||#1 Bare Bright Copper Wire||$2.30 per lb.|
|South Beloit, IL||#2 Copper Tubing||$2.06 per lb.|
|Huntsville, TX||Insulated Copper Wire||$0.53 per lb.|
|Monroe, GA||#1 Copper Tubing||$2.20 per lb.|
|San Antonio, TX||Romex Wire||$0.96 per lb.|
|Langley, British Columbia*||#1 Bare Bright Copper Wire||$2.20 per lb.|
|Vicksburg, MS||Aluminum Radiators||$0.36 per lb.|
|Bowling Green, KY||#1 Copper Tubing||$1.90 per lb.|
Ferrous Market News
With oil and gas prices continuing to fall we expected the steel markets to have a bit of a pullback and that still has not happened. We have continued to see the market increasing and have been very happy with some of the reported prices that we have seen coming in every day. With steel prices jumping and even the tougher parts of the country seeing an inflow of materials we have become very optimistic about the markets going forward through the rest of 2018.
Reported Ferrous Scrap Prices (11/14 – 11/20):
|Seguin, TX||Shreddable Steel||$80/ton|
|Victoria, TX||Light Iron||$80/ton|
|Tampa, FL||Shreddable Steel||$100/ton|
|Burlington, NC||Light Iron||$110/ton|
|Norfolk, NE||Shreddable Steel||$120/ton|
|Amarillo, TX||Scrap Iron||$0.10/lb|
|Tullahoma, TN||#1 Steel||$0.05/lb|
|Indianapolis, IN||Shreddable Steel||$200/ton|
|South Beloit, IL||Sheet Iron||$100/ton|
|Huntsville, TX||Scrap Iron||$0.03/lb.|
Gold has seen an increase back to the 30 per ounce, but we have seen the electronics market continue to falter. We can only hope that with the meeting in a few weeks taking place that the Chinese will begin taking more electronic scrap and we will see an increase into the first quarter of 2019.
Aluminum prices have been very difficult to gauge and we have watched them very closely and they have been tough to get a grip around. These tariffs have affected the scrap prices and all yards seem to be pulling back on any and all aggressive aluminum grading or pricing.
We truly enjoy writing, reporting, making videos, and talking scrap with you and so many others. We thank you for continuing to share your pictures, scrap stories, advice, and scrap knowledge. We have learned more from you than you would imagine and that is something that we appreciate.
Happy Thanksgiving from iScrap to You.