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Steel Prices Rise, Copper and Aluminum Drop

6/8/2015

Steel is the bright spot in the scrap market as we head into summer. Recent climbs have taken steel up another $5 to $10 per ton, and those prices appear to be holding. Steel seems to be taking advantage of some positive trends in the market, but we’ll have to wait to see if those trends start to be seen with other metals. The market has been very disjointed this year, so what’s good for steel isn’t so hot for other metals.

Back in March, we had some hope that after a six-year low, copper prices were stabilizing. But there’s still enough uncertainty in the scrap market that it’s tough for most metal prices prices to stabilize. Copper prices saw a recent drop of 7-10 cents per pound. We’re not looking for any significant jump in those prices soon.

Reports show the aluminum market continuing to weaken as prices dropped further over the last 6-7 weeks. No one is predicting those prices to turn around anytime soon due to the abundance of material that we saw slowly rising at the end of 2014 and continuing into this year. If you have aluminum materials in your stockpile, unless you want to hold onto it for a very long time, your best option may be to unload it now.

Tags: scrap prices

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