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Scrap Pricing News

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

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

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

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