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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