This is our first update since the before the holidays. The last few months have been a bit confusing for those of us who track the steel markets. In the end, slowing demand outweighed a slow flow of material into scrapyards and mills and we have dropped our sheet iron price $15 to $175. We don’t see prices dropping any further next month, but this month was looking promising until recently so we wouldn’t suggest stockpiling steel.
Ferrous prices on the other hand have shown some strength. Prices on aluminum, copper, brass and stainless steel all have started 2013 off with raises. There might not be a lot of room for prices to increase, but they should stay around these levels until the summertime.