Yeah, We’re Tired of Low Prices Too – 11/20/19

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Gobble Gobble!

With the season of turkey being upon us next week, we would like to wish everyone a very happy and safe Thanksgiving. We have been watching the markets and trying to learn what has been going on and it has been a very interesting last week. We have read multiple reports, where some people think that these trade tensions are going to last up to 20 years or more between the United States and the Chinese.

Quick Numbers

  • $250 Trillion – Seems like a fake number right? It is the amount of global debt in the world.
  • Phase 1 – Talks heating up and we are optimistic for a deal before Christmas or sooner.

Social Scrap from Our Facebook Group

We have seen a lot of things scrapped, seen pictures of the material, etc. We have talked about how people resale and reuse material and items for different needs and this is one of those times or items to look for. iScrapper Chuck S. had a lot of nuts and bolts and did not want to just scrap them and reached out to the group for some advice. In less than 3 days, over 29 comments, tips, offers, and pieces of advice were given. Now that is the definition of a scrap talk. 

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Non-Ferrous Market News

While we are always hopeful that the markets have an upturn, we have been watching them very carefully lately. There has been no major trade advancement, even though there have been more talks going on, but no deal has been signed yet. If we see phase 1 get signed in the next day, week or month, we expect to see the market rise at least $0.05-$0.10 almost instantly. The big thing that we will look for is; will the market stay increased or will it go back down.

What we saw a couple of weeks ago when the initial phase 1 was announced, was an increase of about $0.10. Over the next eight days, we saw the market continue to decrease and go back to the pre-announcement levels. These are very tough non-ferrous market times and watching the markets, the tariffs and the reactions will be very interesting going into December. 

Reported Non-Ferrous Scrap Prices (11/13 – 11/19):

Location

Material

Price

Anoka, MN Lead $0.40 / lb
Rockaway, NJ #1 Bare Bright Copper Wire $2.25 / lb
Columbus, GA Aluminum Siding $0.20 / lb
Salt Lake City, UT #1 Copper Tubing $1.92 / lb
Rochester, NY #2 Copper Tubing $1.85 / lb
Newport, KY Brass $1.30 / lb
Sedalia, MO Insulated Copper Wire $0.61 / lb
Kansas City, KS Sheet Aluminum $0.21 / lb
Tampa, FL Romex® Wire $0.41 / lb
Houston, TX Aluminum Cans $0.37 / lb
Lafayette, LA Electric Motors (Copper) $0.05 / lb
Phoenix, AZ Stainless Steel $0.17 / lb
CHECK CURRENT PRICES

Ferrous Market News

We have seen the markets increase in November and the prices have stabilized over that time period. We have seen all grades jump about $10-12 per ton and it has been really interesting to see these increases and these price jumps. With the markets being in limbo internationally and with the tariff restrictions still in effect, we are really seeing a tough market overall. 

Reported Ferrous Scrap Prices (11/13 – 11/19):

Location

Material

Price

Greensburg, IN Light Iron $50 /ton
North Platte, NE #2 Heavy Melting Steel $35 /ton
Springhill, FL Cast Iron $70 /ton
North Bend, OH Incomplete Car $70 /ton
Bowling Green, KY Shreddable Steel $75 /ton
Emporia, KS Light Iron $40 /ton
Tucson, AZ Sheet Iron $90 /ton
Victoria, TX Cast Iron $40 /ton
Cincinnati, OH Shreddable Steel $50 /ton
Niagara Falls, NY #1 Steel $60 /ton
Thorold, Ontario* Tin $125 /ton
CHECK CURRENT PRICES

Other Markets

Gold has been down as of recent and while that does not affect most metals- the electronics have been slightly off. The catalytic converter base metals of Rhodium, Palladium, and Platinum have been up recently on renewed optimism for trade talks to intensify. 

Thank You.

We will not have a report next week but we hope that you and your loved ones have an excellent holiday and a Happy Thanksgiving. If you are going to deep-fry that turkey, make sure you use gloves!

– Tom

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*Canadian Dollar