The increase in steel prices is about a month later than we expected, but we are glad it is here. The slow flow of scrap into yards through the winter has finally affected the market enough to raise prices. To start the month our sheet iron price is up $25 per ton to $215/ton. We expect the price to stay there all month, and will have a better of idea of what to expect for April in a few weeks.
The news on Non Ferrous prices is not as positive as the news on Ferrous scrap, but prices are still at fairly high levels. Aluminum and Copper have both dropped a bit the last few weeks, which could lead to price drops at yards later this month. As of right now, our Non-Ferrous prices have not changed this month.
On another note, we would like to remind our customers that City of Detroit Junk Licenses expire this month. Even though one is not required to sell metal, there is a risk of being pulled over on the way to the yard if you have a load of junk without a license. Check out our blog posting to help you prepare for the process of applying for one.