September Price Update

As we told you last month, it appears our sheet iron price will be staying flat for the month of September. There were some signs that a price jump was coming, but it looks like we will have to wait until at least October before sheet iron prices go up on the scale. Some steel grades, like Busheling and Baling, will see slight increases this month, which also indicates that prices could rise in the fall.

Non-Ferrous prices are also a mixed bag this month. Low demand has caused Stainless Steel to drop significantly. We have dropped our prices to 55 cents per pound for clean stainless and 20 cents per pound for contaminated stainless. Aluminum is near a high point, we recommend taking advantage of the current markets if you have any scrap aluminum to sell. Copper has been locked into a price range between $2.10-$2.40/lb for quite some time now and there is no sign that it will be breaking out of that range any time soon.

August Price Update

There is not much news to report regarding scrap metal prices for August. We expect steel prices to remain flat for this month, and there will likely be no change in September either. There could be a raise in prices in October as colder weather starts to slow the flow of scrap.

Non Ferrous prices have been much tougher to gauge lately. Markets seem to be moving with no rhyme or reason, and not based on supply and demand. Prices for all Non-Ferrous prices are relatively high right now, so we recommend selling until the markets become more clear.

The Scrap Report June 2014

Currently the Ferrous scrap market is in a negative slide. The trend will probably continue through the summer months. Year over year prices are actually flat. Lately the export market has been weak to non-existant so the downward trend could turn for better if exports pick up. A tremendously bad winter has led to heavy shredder scrap flow, thus keeping prices trending lower.

The Non-Ferrous scrap prices have been led by Nickel, which is up some 25-30%. Aluminum and Copper prices have stayed in a narrow trading range with the only wildcard being the interest rate hike talks. If interest rates begin to rise look for commodity prices to trend lower. All in all markets appear healthy with the normal seasonal trends.

March Price Update

As we told you last month, the forecast for ferrous prices does not look good for the month of March. We expect prices on all steel grades to drop at least $20/ton sometime next week. We highly recommend selling all of your steel before the price drops, it does not look like this trend will reverse until the end of spring.

Non Ferrous prices look a bit more stable for next month. Copper, Aluminum and Stainless all seem to have settled into prices they will hold for some time. These prices will be something to keep an eye on once summer begins and scrapyards get busy again. As non ferrous metals begin flowing into the scrapyards when it warms up, this may cause prices to drop.

February Price Update

Unfortunately, we have some bad news to report regarding scrap metal prices for the next few months. Economic slowdowns in Russia and China have caused demand for scrap metal to drop worldwide. Our Sheet Iron price has already dropped this month to $215 per ton, and is likely to drop another $50 through the month of April. We recommend selling steel as you get it until the spring, since prices may not be headed back up until the summer.

The outlook on non-ferrous prices is very similar. Copper, Aluminum, and Nickle have all seen significant price drops on the market the past few weeks. Fortunately, there is still demand for these commodities in the midwest so prices locally have no dropped yet, but it is very likely they will soon. We recommend selling any non-ferrous material you have been stockpiling over the next few weeks. By the end of February, all of these prices will be lower on our scales.

We will keep you updated through this downturn via our blog and facebook page. Hopefully spring brings a change in scrap metal prices along with the change in weather.

December Price Update

We have some mixed news to report this month regarding scrap metal prices. On the steel side, it appears prices will be going up both in December and January. We expect to raise our price at least $10 this month, and probably another $10 in January. We expect prices to come back down to the levels they are at now in February. Prices may stay up after the next two months though if bad winter weather causes a slow flow of scrap to the mills.

The news on Non-Ferrous prices is more negative. Both Aluminum and Stainless look like they will be dropping in value over the next few months. We would recommend selling these materials now if you have any piled up. We have not begun dropping these prices yet, but we will be forced to throughout the month.

Stay tuned to our blog and facebook page for price updates, and also our December holiday hours will be announced sometime next week.

November Price Update

The holidays are coming up quick and the month of November has brought some good cheer. Ferrous prices have started this month on the rise. We have raised our sheet iron price to $200 per ton, which is a $20 increase from last month’s price. While this price should hold up for the rest of the month, we highly doubt it will go any higher in the near future, and recommend selling ferrous material this month.

Non Ferrous prices have stayed mostly flat this month. Prices on aluminum, copper, brass, and stainless have been mostly unchanged. There is a lot of uncertainty in the non ferrous markets, and it is anybody’s guess which way these commodity’s prices will move next. While prices are not the highest they have ever been, they are still relatively good and we would not recommend holding on to non ferrous metals waiting for prices to go up, or you could get burned.

Thanksgiving is just a few weeks away. Stay tuned to our blog and facebook to stay informed of our annual customer appreciation cookout and holiday hours. Stay warm and scrap on!

July Price Update

Price changes have been a little slow to develop this month with a lot of mills and foundries closed for July 4th, but we have enough information to gauge what will happen with scrap prices for the upcoming month.

Ferrous prices are looking up for this month. We have already raised our sheet iron price $15 to $195 per ton, and there is a very good possibility prices will jump again before the month is over. This price increase was unexpected, and that usually means it will not last for too long so we recommend selling your ferrous material while prices are up.

Non Ferrous prices have not been on a positive trend lately. Prices for scrap Aluminum, Copper, and Stainless have all dropped over the past few weeks. The range on aluminum prices is currently 40-55 cents per pound, #2 Copper is $2.20/lb, #1 Copper is $2.30/lb and clean Stainless Steel is 40 cents per pound. While prices are down from where they had been the past few months, there is still good value in scrapping non ferrous metals.

 

June Price Update

There is not much to report as far as scrap metal prices go for this month. The scrap steel market has shown some weakness, but we are keeping our steel price flat at $180/ton this month. It looks like steel may stay at these levels for most of the summer, but we will keep you posted.

Non Ferrous Prices are also mostly unchanged from last month. Aluminum, Copper, Stainless, and other non-ferrous metals have held fairly steady the last few months. There is not a lot of news to report on what will happen with these prices in the future, but it appears there is not much room for them to go up in the near future.

As always, our real time price list is available to you on the iScrap App, and we will be updating our facebook as prices change.

March Price Update

The increase in steel prices is about a month later than we expected, but we are glad it is here. The slow flow of scrap into yards through the winter has finally affected the market enough to raise prices. To start the month our sheet iron price is up $25 per ton to $215/ton. We expect the price to stay there all month, and will have a better of idea of what to expect for April in a few weeks.

The news on Non Ferrous prices is not as positive as the news on Ferrous scrap, but prices are still at fairly high levels. Aluminum and Copper have both dropped a bit the last few weeks, which could lead to price drops at yards later this month. As of right now, our Non-Ferrous prices have not changed this month.

On another note, we would like to remind our customers that City of Detroit Junk Licenses expire this month. Even though one is not required to sell metal, there is a risk of being pulled over on the way to the yard if you have a load of junk without a license. Check out our blog posting to help you prepare for the process of applying for one.