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Scrap Metal Market Continues to Show Weakness

With no real catalyst to drive prices higher, the scrap metal market continues it downward spiral with no clear end in sight. Inventories remain high, uncertainty with regard to the US-China trade war remains and global slowness persists. While there appears to be some movement with regard to trade talks between the US and China,…

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Nickel Prices Continue to Rise Adding to Price Movement in Stainless Steel

  Nickel prices continue to rise and have reached a 5-year high. With a potential ban on Nickel exports from Indonesia, the world’s top nickel ore producer, nickel prices continue to soar and have reached a significant resistance level, just over $8. With such a meteoric rise in 2019, we can expect a likely pullback…

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Has the Scrap Metal Market Reached a Bottom?

Prices are poised for an August Increase After several months of negative price movement, it appears as though the scrap metal market may have reached a bottom and we may see a price increase for August. While economic softness appears to be taking place in the United States along with a continued global economic slowdown,…

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Why the Price of Nickel Continues to Show Strength

If you take a look at the 1-year Nickel chart, many would wonder what has triggered such an explosive move since January. Nickel is a significant alloy used in the production of stainless steel. Stainless steel however has seen its price drop along with most other alloys, so the question begs, why is nickel having…

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Global Pressures Continue To Weigh On Scrap Prices

Further uncertainty with global trade along with tough talk from global leaders is weighing on commodity prices and as a result, scrap prices remain weak. June looks to be another soft month for scrap prices, but the hope is that prices will remain flat or drop slightly. Scrap dealers however are looking at June as…

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May Scrap Prices Settle Down HUGE

Negative sentiment takes scrap prices to their lowest levels in 2 years. Detroit took the lead once again with scrap settlement pricing by taking prime scrap down $40 per gross ton and cutting shredded scrap by $30 per gross ton. That sharp decline puts prime scrap in Detroit at its lowest level since February of…

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What will May bring for Scrap prices?

What will May bring to scrap metal prices? If everything goes as planned, May will bring a drop in scrap prices once again. On Monday, the President and CEO of Steel Dynamics, Mark Millett commented on the anticipated May drop in prices along with his outlook for the year.  On the company’s earnings call, he…

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April Scrap Metal Price Update

Detroit scrap market prices drop $20 in April After a March jump in scrap steel prices, April began with hopes of a flat month. However, market talk began to indicate a drop in scrap prices was likely.  While other regions have not settled on a $20 drop, the Detroit market was quick to pull the…

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How to get the most money for your scrap

Keys to maximizing your scrap value With the current market environment, scrap prices have been slowly dropping. Over the last few months, the price of scrap has continued to fall. While most scrap dealers have been waiting for some stabilization in the market, there are reasons for some hope that things have leveled off and…

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