Where Are Steel Prices This Week…UP! – 8/26/20

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Scrap Nation!

We hope that you are enjoying this nice uptick in prices that we have seen over the last few months and the leveling off of prices has been welcome to see. With copper prices settling after a little back and forth last week we are happy to see scrap yards prices increasing, as well as reported prices jumping week over week!

Quick Numbers

  • $0.07 – Copper dropped from last weeks highs

Social Scrap from Our Facebook Group

Guessing the weight is one of the favorite games for scrappers. We love when our scrappers share their loads and turn it into a game that only experience can answer.  Check out the post from Justin F.

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Non-Ferrous Market News

With the markets being relatively stable over the last week, it’s been very nice to see the prices jumping up across the board in multiple markets. With copper prices staying close to the highs that we saw last week, we have started to see scrapyards pay more money per pound for all of their copper items which have been a great treat for many scrappers who have been saving it over the last few months. We’ve had many people asking us where we think the markets are going and a lot of that is going to be contingent on the next two months going into the election season.

We THINK the markets, for the next two months, are going to be a relatively flat curve unless there is some type of large outside market influences that come in and affect things. Overall, we’re very surprised (in a good way) on how the markets have reacted and we hope that this trend continues going into the rest of 2020.

Reported Non-Ferrous Scrap Prices (8/19 – 8/25):

Location

Material

Price

Racine, WI Sheet Aluminum $0.19 / lb
Rockaway, NJ #1 Bare Bright Copper Wire $2.58 / lb
Virginina Beach, VA Car/Truck Batteries $0.20 / lb
Dunn, NC Aluminum Cans $0.25 / lb
Frederick, MD THHN Wire $1.75 / lb
Flint, MI #1 Copper Tubing $2.10 / lb
Oklahoma City, OK # 2 Copper Tubing $2.18 / lb
Colorado Springs, CO Romex Wire $1.20 / lb
Fresno, CA Electric Motors (Copper) $0.12 / lb
Westville, IN Red Brass $1.20 / lb
Nashville, TN Aluminum #3 $0.27 / lb
Carrollton, GA Ballasts $0.07 / lb
CHECK CURRENT PRICES

Ferrous Market News

The price of steel is going up again week over week and we are excited to see these changes happening. One of the major reasons is that the export market has dried up and a lot of the overseas importers of steel are overpaying for the material to be able to start the flow again.

We’ve heard multiple cases of exporting companies using overseas containers for steel purchases which have generally been a very uncommon practice over the last few years with some of the domestic prices in the United States being so strong. Moving into the rest of 2020 we hope to see these markets continuing this positive surge and maybe even see another increase coming in the middle of September.

Reported Ferrous Scrap Prices (8/19 – 8/25):

Location

Material

Price

Dickson, TN #1 Steel $101 /ton
Kingsford, MI Light Iron $65 /ton
Akron, OH Rotors $0.07 /lb
Fayetteville, NC Shreddable Steel $80 /ton
Aberdeen, SD Scrap Iron $50 /ton
Kansas City, KS #1 Steel $70 /ton
Owego, NY Complete Car $150 /ton
York, PA Shreddable Steel $100 /ton
Odessa, TX Short Iron $100 /ton
St. Paul, MN Light Iron $75 /ton
Tallahassee, FL Shreddable Steel $0.01 /lb
CHECK CURRENT PRICES

Other Metal Markets

Wow, gold has retreated from the high of over $2,000 an ounce. We are still seeing a very strong market with gold in the mid-$1900 per ounce range. With these prices, coupled with the increase in the copper market, we have seen prices up ticking and have been very happy on where these markets have been trending overall. Where it’s going to go could possibly be in the $2500 per ounce range depending on economic influences from the outside world, as well as the election in the upcoming months.

Catalytic Converter Market News

BROUGHT TO YOU BY:

The team at RRCats.com has been able to update customers with prices every single day through serial numbers, pictures and photo grading. If you’re looking to find out what’s going on with the market you can also subscribe to the weekly report that the team over at www.RRCats.com provides giving you further insight on where the metals markets are moving. With rhodium prices continuing to flourish over the last few weeks it’s been a very positive sign, although we have seen palladium and platinum ticking down lately.

Scrap Catalytic Converter Prices This Week (8/19 – 8/25):

EA6 $358/@
GD3 $562 /@
JSH62 $296/ @
12606389 $319 /@
25130440 $221/ @
Small Foreign $101/ @
Regular Domestic $201 @

Thank You.

We are happy that the markets have been responding in a very positive light and overall with everything going on, we believe that the Scrap markets have remained relatively strong and we should be very happy with where the markets are right now. Everyone wants prices to be higher but with so much hostility, animosity, and market fluctuations; we are very happy to see the levels that we’re currently seeing.

– Tom


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