We’re back to work from the holiday weekend, and though there has been a bit of a delay in pricing for scrap metal this month, we have a few projections we are ready to share with you. Typically, as summer winds down metal prices begin to show some strength as the market gets ready for the flow of scrap to slow down during the winter months. Following a volatile summer that strength might not be huge price increases, but instead more stability.
Steel prices are the best example of stability returning to the market. After a quick drop to start the summer, and a big bounce back to finish the summer, steel appears to be starting the fall with little to no price movement. We expect our price to be anywhere from $10 down to flat this month, which will keep the price of sheet iron right around $200/net ton. While the price going up is ideal, knowing there are no big drops coming is half the battle.
Non Ferrous prices are in very much the same boat. While commodities like aluminum and copper have seen minor increases on the markets, demand from mills and processors has not increased enough to raise scrap prices yet. Those two factors appear to be canceling out leaving us with flat non-ferrous prices to start the fall. It will probably take a few more months for items like stainless steel to recover the losses they took this summer, but it also appears prices have found a floor.