We heard that there’s a couple of weird snowstorms getting ready to hit parts of the Midwest and we feel bad for anyone that has to continue dealing with any of these weather problems. We hop you all stay safe and your scrap doesn’t get buried too much. Over the last week, we have heard all types of information on the trade talks with the Chinese and with a possible meeting between the presidents in early May.
Suggested Reading: What Are Metal Tariffs & How Do They Affect Scrap?
What could a meeting like this mean? Well, it could mean that we’re getting closer to trade negotiations although we have heard reports that this may be something that drags on throughout all of 2019. Some of the experts think that having any type of agreement that does not cover any potential problems from the past were thinking forward it would be a quick agreement and not be right long-term.
- $2.79 per gallon – Gas price average across the US for Regular, up $0.47 in 2019.
- $31 per ton – The average we saw steel prices drop the last 3 weeks.
- 4000 – The projected number of scrap metal owners, management groups, and other interested parties currently attending a trade show in Los Angeles this week.
Social Scrap from Our Facebook Group
This post was one of the most liked and commented post that we have seen in some time and it’s funny to see what old appliances used to be made of. Talking about hot water heaters is generally like talking about light iron and a little boring but this was far from that. Thank you Dale for sharing your find.
Copper prices have risen $0.02-$0.03 over the last week and with the potential deal taking place between the Chinese in the US still lingering we are in a wait and see mode. With copper recovery and we have still seen a relatively strong market for regular items like #1 tubing, #2 copper, and THHN, while others are weakening such as lower grades of wire.
The aluminum market has shown some signs of strength but overall has still remained relatively weak. We have tried to look at the market as a whole and figure out what type of direction that it is going in but it seems that we constantly go back to the same tariffs and trade negotiations.
Reported Non-Ferrous Scrap Prices (4/3 -4/9):
|Hartford City, IN||Aluminum Rims||$0.60 / lb|
|Rockaway, NJ||#1 Bare Bright Copper Wire||$2.62 / lb|
|Shreveport, LA||Insulated Copper Wire||$1.00 / lb|
|Ventura, CA||Electric Motors (Copper)||$0.10 / lb|
|Pittsburgh, PA||#2 Copper Tubing||$2.20 / lb|
|San Antonio, TX||Stainless Steel||$0.40 / lb|
|Grand Island, NE||Aluminum Siding||$0.30 / lb|
|Port Republic, NJ||#1 Copper Tubing||$2.35 / lb|
|Perry, FL||Yellow Brass||$1.05 / lb|
|North Bay, ON*||#1 Bare Bright Copper Wire||$2.85 / lb|
|Geneva, NY||Computer Wire||$0.20 / lb|
|Bucyrus, OH||Brass||$1.45 / lb|
Hold on……………breathe. It looks like the iron and steel market has finally stabilized after having a very tough 3 to 4-week stretch. With many questioning why the iron prices are not going up as the gas prices are going up a lot of it leads to supply and demand. We talked to a trader recently who said that a lot of the domestic steel mills are at full capacity and do not need as much material in right now as they are trying to catch up from the material they already have in stock.
Suggested Reading: How Gas Prices & Scrap Prices Are (or Are Not) Related
The export market has also not been particularly strong as the demand is there but because the local prices inside of the United States have gone down the export prices have followed as well.
Reported Ferrous Scrap Prices (4/3 -4/9):
|North Bay, ON*||Shreddable Steel||$200 /ton|
|Gadsden, AL||Tin||$0.07 /lb|
|Minatare, NE||Cast Iron||$125 /ton|
|Reno, NV||Unprepared Cast Iron||$60 /ton|
|Houghton Lake, MI||Complete Car||$140 /ton|
|Cleveland, OH||Light Iron||$110 /ton|
|Milan, IL||Shreddable Steel||$125 /ton|
|Mt. Pleasant, WI||Dry Automobile||$0.065 /lb|
|Rutland, VT||#1 Steel||$175 /ton|
|Sturgeon Bay, WI||Sheet Iron||$0.034/lb|
|Petersburg, VA||Scrap Iron||$0.04 /lb|
We have finally seen the non-magnetic stainless steel market improving with the prices are up $0.02-$0.03 per pound overall. There have been other markets for different metals that have been very weak that have anything to do with the nickel market. We have heard some suppliers for the numbers extremely low due to insufficient demand in the market.
As always we look forward to hearing your comments, answering your questions, and listening to any and all feedback that you may have.
- Copper Is Still Being Affected By Trade Talks – 4/3/19
- What Is Irony Aluminum Scrap?
- What Are Metal Tariffs & How Do They Affect Scrap?