If we had written this one day earlier, we would not have as good news as today. We have seen all markets increasing across every spectrum, from aluminum to steel to copper; with these markets having such substantial increases, we expect the year’s balance to show vital signs of growth, especially for the first six months of 2022.
After that, we are going to continue to see choppy signs and prices depending on political problems and many restrictions being lifted, which we are starting to see in other countries and the United States. These are important because it means that more people will be forced into going back to their regular everyday pre-Covid lives, and we expect to see more material needed to keep up with current demands.
Non-Ferrous Prices & Market Status
Copper – SELL
Aluminum – SELL
Brass – SELL
Copper Wire – SELL
Stainless Steel – SELL
With copper prices jumping $.20 per pound between Tuesday and Wednesdays markets, we are happy to see this increase. When we see gains like this happen in back-to-back days, it generally means that the market as a whole is feeling firm and that we will be able to see a strengthening of prices over the next few weeks. These markets look like they will have a substantial period. Still, if there are any problems on the Ukrainian front, we believe that the needs could show a significant pullback except in the energy markets, which should see an increased demand.
The increased demand on the energy side of things will lead to higher prices and ultimately push many metal prices up further. This will include aluminum and copper, and the substantial uptick demand that we have seen in the nickel markets will continue to increase most prices for the foreseeable future.
Non-Ferrous Price Chart of the Week
Ferrous Prices & Market Status
#1 Steel – SELL
Shreddable Steel – SELL
Light Iron – SELL
Cast Iron – SELL
Complete Car – SELL
With an increase in pricing for the first time in 2022, we are starting to see the markets reacting in a good way. With market prices increasing as energy prices are simultaneously growing, we expect to see more and more uptick over the first quarter of 2022.
We are seeing more furnaces coming online, giving us a more optimistic approach and point of view when it comes to more material staying domestic and not being as heavily reliant on the export market for steel and iron products. On top of that, the increased demand for the auto sector and different infrastructure projects that will be planned and instituted for the next few years will continue to add to the increased production and prices.
Ferrous Price Chart of the Week
Other Metal Markets
Moving Batteries continues to be a very tough issue as recyclers are becoming more and more strict on different battery classifications. As lead-acid batteries become less and less used as the electric vehicle market comes on, we expect to see further weakening prices as the year progresses. If you are one of the people holding onto a lot of these lead acid-based batteries, you may want to consider moving your inventory as we do not expect the markets to possibly ever recover.
Catalytic Converter Prices & Market Status
Catalytic Converters – SELL
We believe that we have established a floor for the catalytic converter recycling market with all things considered. With a massive price increase due to inflationary prices, we are not surprised to see many of these precious metal prices as high. But what we are looking at is what will happen as more supply chains begin to get fixed, and as more material is needed, we expect to see further price increases down the pipeline.
Next week, we are excited to have a guest as part of our weekly report. Our guest will shed a little more light on the electronic recycling market and give you a break from our regular week-to-week videos and reports. We are looking forward to seeing your reactions and, hopefully your interactions to help guide us on content that we can create for you in the future. Have a great week, and don’t forget Monday is Valentine’s Day so make sure you get someone you love something nice.