Blog & Coronavirus Updates
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…
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…
Read MoreHow will the New Year begin for scrap prices?
January 2019 may not be the norm for scrap prices Happy New Year! With the scrap market limping into the end of 2018, it is now time to focus on what the New Year may bring for scrap prices. As the commodity market continues to show signs of weakness, the usual jump in scrap prices…
Read MoreAluminum Prices face Pressure as US lifts some Russian Sanctions
Aluminum prices may fall with lifting of Russian Sanctions The United States Treasury announced on Wednesday that they would be lifting sanctions on the core empire of Russian businessman Oleg Deripaska, which includes aluminum giant Rusal. Rusal, the world’s second largest aluminum producer has been dealing with sanctions imposed by the United States since April. …
Read MoreTariffs still weigh on the Markets
Trade war and tariffs continue to cause uncertainty While the United States and China agreed to a 90-day negotiation period which has put a halt on any increased tariff activity, the uncertainty surrounding this ongoing trade war continues to weigh on the world markets. With the holidays in front of us and no real trade…
Read MoreSikora Metals offers new Rewards Program to its Customers
New Reward Program just in time for the Holidays Beginning December 1 and just in time for the holidays, Sikora Metals (THE scrap metal yard in Detroit) started a new rewards program for our customers. It’s pretty simple. Bring in $50 or more in scrap and you will receive a Sikora Stamp on the Rewards…
Read MoreAluminum scrap exports surge in October
Aluminum scrap exports hit 4-year high While the United States and China engage in a trade war that seems to have no immediate end in sight, the scrap metal market is in a wait and see mode for some kind of direction. However, while the trade war continues, October produced some significant aluminum scrap export…
Read MoreTop reasons to separate your scrap before you head to a scrap yard
Separate your scrap before you get to the scrap yard Those that make a living scrapping know that getting the most out of their scrap is the only way to be successful in the scrap business. That is why it is important to come to the scrap yard with the scrap separated into ferrous and…
Read More