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March 2017 Price Update

We are surprised to report that steel prices are still on the rise this winter! We have raised the price on our scale to $140/ton, another $20 increase from last month. Demand for steel surprised us this month and kept the price moving up. We do not think it will go up anymore over the next few months but we also don’t see it dropping of these levels anytime soon. It looks like this is gonna be a great spring for scrappers!

Non Ferrous metals are also still showing strength, with no metal prices dropping from their highs. Copper prices have gone up about a dime since last month, with #2 Copper sitting at $1.85 on our scale. Aluminum and Stainless have stayed flat since last month but the current prices are about as high as can be expected. We expect these prices to stay flat for this month as well, with no big changes coming.

Date: 03.07.2017

February 2017 Price Update

Scrap metal prices have been very strong to start the year, preforming much better than they usually do in the winter months. After gains in December and January, we gave a little bit back in February but our current price for Sheet Iron of $120/ton is about all we could hope for. Mills are having trouble securing enough scrap so steel prices should at the very least be able to hold this level through the spring.

On the nonferrous side, prices have been steadily rising on our scales. Aluminum, Copper, Brass and Stainless are all as high as they have been in some time. Copper and Insulated Wire especially have been strong, with our prices shooting all the way up to $1.75/lb for #2 Copper. Aluminum has been strong as well, with siding and extrusion both easily moving above $0.50/lb.

Since prices usually tend to drop in the Winter months we are unclear as to what spring and summer will bring. It is hard to imagine there will still be strong gains in the warm months after these unexpected rises, but we wouldn’t rule it out. Either way, now is a great time to be scrapping with the current prices.

Date: 02.08.2017

Thanksgiving Cookout and Hours

We will be closed for Thanksgiving Thursday, November 24th through Sunday, November 27th. We will reopen on Monday, November 28th at 7:00 AM.

Our Customer Appreciation Cookout will be Wednesday, November 23rd from 10am until 2pm. Bring a load to the yard and grab something hot off the grill before the holiday. We hope you can join us!

Date: 11.22.2016

March Price Update

Scrap prices have started to bounce back over the last few months. After hitting a low of $40/ton we are back up to $60/ton for Sheet Iron. It does not appear there will be any major movements in the price through the summer. We expect it to hold around this level for much of 2016. There may be small jumps up or down month to month, but we do not expect prices to shoot up anytime soon and obviously they cannot go much lower.

Non Ferrous prices have been on the rise as well. Aluminum, Copper and Stainless have all shown strength over the last several weeks and prices on the the scale have gone up. We recommend taking advantage of the recent upswing and selling while the market is up. It is tough to say which way the market will move throughout the rest of the year,  much like steel it will likely not move very much either way.

Date: 03.08.2016

July Price Update

Another month has gone by and the news is not getting any better. The only positive we have to report this month is that steel prices will stay flat at least through July. We are currently paying $100/ton for sheet iron on our scale, and we do not see the price being any higher for the rest of 2015, in fact it will likely begin dropping in August. Major economic slowdowns in Asia and a possible UAW strike appear to be the major forces driving prices down, but in general there is no positive news to report from anywhere in the global economy. Keep selling steel as you get it, the prices are not going to be better than they are now for some time.

Nonferrous prices have continued to drop steadily and the future does not look any better than steel prices do for the very same reasons. Prices on Aluminum, Copper, Brass and Stainless have taken huge hits and they have not hit bottom yet. We know prices are not great for these materials right now compared to the last several years, but they will likely continue to drop. Barring any major changes in the global economy, the rest of the year appears to be a rough stretch for the scrap business.

 

Date: 07.14.2015

Summer Price Update

Summer has been a mixed bag so far when it comes to scrap metal pricing. When it comes to steel prices the market has surprisingly shown a bit of strength. We have raised our sheet iron price $15/ton to $100/ton the last few months, and may be raising it again 5 or 10 dollars in July. While these are not huge increases, it is a good sign that the price reversed from it’s downward trend through the spring and winter. There is no guarantee that this strength is here to stay however, and we would not recommend holding on to steel waiting for a bigger uptick.

On the nonferrous side however, prices have been dropping fast. Aluminum, Copper, and Stainless have all seen huge drops over the last several weeks. Aluminum prices in particular are down about 30% across all grades. It is very possible these prices are not done dropping, the markets are showing no sign of strength. Perhaps as the as the flow of scrap slows down once cold weather hits this trend will reverse, but we do not see prices going up very much through the summer and into the fall.

Date: 06.22.2015

New Payment Regulations

As you may already know by now, the City of Detroit has once again changed the way we are allowed to pay our customers. A while back we told you about the New Michigan Scrap Laws which applied to items containing copper and catalytic converters. This law was intended to require us to send payment through the mail for any amount of those restricted materials worth more than $25. The Detroit Police have decided to interpret the law differently, saying it applies to any transaction over $25 regardless of what material it is. These regulations do not apply to commercial or industrial accounts. Customer who provide us an authorization to scrap for a company on a company letterhead are exempt from these restrictions.

A bill has been brought forth by State Senator Mike Kowall to correct this misinterpretation, but while we wait to see if that passes we are forced to comply with the requirements the Detroit Police have put on us, and all transactions over $25 will have to be paid via voucher through the mail. We are hopeful this bill will pass and we will be able to go back to only paying the items that were intended to be restricted in a matter of months, but this bill must go through the political process again.

The best way to have your opinion heard on this matter is to call your representatives in the State House and Senate. We will keep you updated on any changes in the law as we find out about them.

 

Date: 05.05.2015

April Price Update

There is not much to report with regards to scrap metal pricing since our last update.  Steel pricing we likely stay flat this month, but there is the possibility of a very small drop. Our current sheet iron price is $85/ton. There is still no certain answer as to if/when prices will start to climb again. We are hopeful there will be some increases this summer, but that is no guarantee.

Non Ferrous prices have stayed basically flat as well. Aluminum is holding in the 40-60 cents per pound range, Copper is between $1.80 and $2.00 per pound, and clean Stainless Steel is 40 cents per pound. The markets for these items are showing weakness, but prices have not dropped very far yet. We would recommend selling this material if you have any stockpiled, a price drop could be on the horizon.

Date: 04.03.2015

March Price Update

Sometimes no news is good news. It appears that ferrous scrap prices will be staying flat for the month of March, which is a relief after the tumble prices took in the first two months of 2015. This could be a sign that prices will not drop any further, but the earliest we see steel prices rising again would be May. Our current price on Sheet Iron is $85/ton.

Non Ferrous prices are still looking a little week as we near the end of the slow winter months. While they did not drop as far or as fast as steel prices did, they have been gradually decreasing for several months without much sign of a rebound. We recommend continuing to sell non ferrous scrap as you get it, there are no major spikes in Aluminum, Copper, or Stainless prices on the horizon. Our current prices on Aluminum range from 40-70 cents per pound, Copper is $1.85-$2.05 per pound, and clean Stainless is 40 cents per pound.

And in case you missed it, we are drawing the winner of our Tiger Day Opening tickets raffle on Saturday, March 28th. Every load worth $5o or more brought to our yard through Friday, March 27th earns you an entry into the raffle. The winner will receive 2 tickets to the Tiger’s home opener and $100 spending cash. Get your loads in over the next three weeks for the best chance at winning!

Date: 03.06.2015

Detroit Tigers Opening Day Ticket Giveaway

Once again, as a way to thank our loyal customers, we are raffling off tickets to the Detroit Tiger’s 2015 home opener! For every load of scrap metal worth $50 or more you turn in through Friday, March 27th you will receive one entry into the raffle. The winner will receive a pair of tickets to the Detroit Tiger’s home opener on Monday, April 6th and $100 spending cash for the game. The winning ticket will be drawn on Saturday, March 28th. Winners do not need to be present to claim their prize.

Date: 02.11.2015