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February Price Outlook

2-4-2012
Unfortunately, scrap steel prices are down this month. We have lowered our scale price for Sheet Iron to $230/ton. We are hopeful that demand will return to the market and prices could only stay this low for the month of February. This is a time of the year when prices typically drop due to all the plant closings over the holidays.

If you have been following us on facebook, or tracking our prices on the Iscrap App, you know Non-Ferrous prices have held their levels, and even risen in some cases. Copper has shown great strength lately, and we are currently paying $2.60 per pound for #2, up 30 cents from the first of the year. Stainless Steel also rose a dime last month to 60 cents per pound.

On another note we would like to remind everybody the scrap licenses expire at the end of March. If you are planning on getting a license for next year, we recommend you start the process as early as possible to beat the rush at the city county building when licenses actually do expire. Stay tuned to our pages on Facebook and the Iscrap App for more price updates, and we will do another post on our blog next month, hopefully with better news.

Date: 02.04.2012