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Scrap Pricing News

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

February Price Update

As you may know by now, scrap steel prices have taken a big hit this month. The prices have finally settled and our scale price has dropped to $85/ton for sheet iron. Unfortunately, there are several factors contributing to the decline, making a quick turnaround unlikely. The two biggest causes of the massive drop this month are decreasing worldwide demand for scrap steel and the increase in the value of the dollar. Barring a major worldwide event, we would not expect to see prices go much higher than they are now until summer at the earliest, but most likely ferrous prices will be down for all of 2015.

Non ferrous scrap prices have seen a more gradual decline over the last several months. Our scale price for scrap copper has dropped below $2 for the first time in a long time. Scrap aluminum, stainless, brass and other non ferrous materials are at similar lows. The causes are basically the same as that of the steel price decline, slowing global demand and a strong dollar. There is no price spike in sight for these materials either. Unfortunately, it looks like 2015 will be a tough year in the scrap metal business.

We don’t want this month’s post to be all bad news, so we are pleased to announce the return of our Detroit Tigers Opening Day ticket giveaway! For every load worth $50 or more brought to Sikora Metals between now and Friday, March 27th you will earn an entry into a drawing to win 2 tickets to the Tiger’s home opener on Monday, April 6th along with $100 cash! The drawing will be held on Saturday, March 28th. Winners do not need to be present to claim their prize.

Date: 02.07.2015

December Price Update

For the month of December it appears that ferrous scrap prices will remain flat. Our current scale price for sheet iron is $150 per ton and we expect it to stay their for the entire month. There is some speculation that steel prices may begin to rise again in January or February but with the way the markets have acted the past few months we would not bet on it at the current time and recommend turning over all of your steel as you receive it.

Non Ferrous prices are mostly flat as well. Copper prices dropped significantly over the Thanksgiving holiday. We have not lowered our scale prices for copper, brass, or wire as of today but will likely have to in the coming weeks. Aluminum and Stainless prices look like they will stay unchanged from last month, but with the volatility in current markets things can change in a hurry.

Date: 12.03.2014

October Price Update

Scrap metal prices appear to be very much on the decline as we head into the fall months. Ferrous grades have taken a hit this month, out sheet iron price is down to $175 per ton. It does not look like steel will be going up anytime soon based on the current market conditions, but there is the chance that destructive winter weather helps it rebound.

Non-Ferrous prices have also taken a beating over the past month. Stainless has been hit the hardest, and it looks like it could keep dropping. Copper and aluminum have also been on the decline, we have lowered our scale prices the past few weeks on these items and will likely have to drop them more this month.

We are in a down market right now and the best advice we could give is to keep selling your scrap as you get it. If you try to hold on to scrap waiting for the price to go up, you may end up holding onto it for months or losing quite a bit of value.

Date: 10.08.2014

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.

Date: 09.04.2014

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.

Date: 08.02.2014

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.

Date: 06.03.2014

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.

Date: 02.27.2014

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.

Date: 02.04.2014

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.

Date: 12.04.2013