How 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 at the beginning of the year may not happen. January is traditionally a month where scrap prices increase. Outside of a sideways movement in 2013 and a drop in 2006, the scrap dealers have grown to expect a jump in prices after the New Year. That may change in 2019 as shredder prices have been dropping and with the current government shutdown, no real news on trade and an export market that is softening to Turkey and almost non-existent to China, January is not setting up well for the normal pop that scrap dealers are accustomed to.