Blog & Coronavirus Updates
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…
Read MoreHas 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,…
Read MoreWhy 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…
Read MoreDetroit Scrap Market Settles Down $30, Sending Shock Waves Throughout the Scrap Industry
What looked like a flat to slightly down Scrap market, panic accelerated fast as order cancellations and global issues continued to weigh on the Scrap Metal Market. Going into the weekend, talk around the mills was that Detroit would be likely down $10 GT but as the week began, negative sentiment began to take hold…
Read MoreGlobal 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…
Read MoreMay 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…
Read MoreWhat 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…
Read MoreApril 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…
Read MoreHow 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…
Read MoreTop 5 Events that can help Scrap Prices
Domestic and Global events that can help move scrap prices higher As we enter the second half of January 2019, Scrap prices remain soft and the prospect of a possible uptick in prices depends on several domestic and global factors. Here are the Top 5 things to look for that can stabilize the scrap market…
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