Markets & Metals May 2020 Coronavirus Edition
As previously discussed in the last Market & Metals post, we discussed the unknown impacts of the global pandemic and the difficulty forecasting into a wildly uncertain economic horizon. The roughly 20 drop that we observed at the beginning of the Pandemic in the U.S. has held relatively steady into May. Average scrap values fell
Scrap Metal Market Mid-March 2020 Update: China & Steel Overproduction
In the last Market & Metals post, it was reported that after two consecutive months of increase, scrap steel marginally dropped by 2.4 percent in price on a national level. This figure is largely insignificant now because at the time, the economic effects of the global pandemic that is the coronavirus had not yet fully
Scrap Metal Market February 2020: Scrap Price Recovery Update
February showing promise in 2020 For the first time in eight months, scrap steel prices increased nationally in January by 0.74 percent. This month, the national price of scrap steel is now a little over $144, a more than eight dollar increase staying on par with industry experts’ prediction that scrap prices will slowly recover
Scrap Metal Market January: What’s To Come In 2020
An optimistic view on scrap steel prices Scrap metal industry experts do not expect the decline in scrap steel prices that widely characterized 2019 to reoccur in 2020. While domestic recyclers should not anticipate rates to quickly return to the $192 per gross ton national average of January 2019, they should likely see a modest
Scrap Metal Market: December 2019
Scrap steel prices are still struggling Scrap steel prices are at an all-time low. As expected, the downward trend that began four years ago continues to hurt recycling rates, and recyclers struggling to make a profit. This price decline is in large part due to precious metals seeing a price increase while non-precious metals have
Scrap Metal Market: November 2019
China-U.S. trade war continues to affect the commodities market Since our last report, the ongoing China-U.S. trade war, along with decreasing interest rates towards the end of 2018, are still causing industrial and auto companies to pull back strongly on spending. In recent months, the steel industry has suffered from holding high inventories throughout the