10 Jan Market Pricing in the New Year
Welcome back to the Ely Enterprises Blog!
Today, we are going to look at a snapshot on metal scrap pricing and the difference between end of December’s pricing to what we looked at in August (in addition to some forecasts of 2017.)
Bare bright copper has jumped about 15 cents in value. Copper pipe has come up, and light iron per ton has seen a general increase (everything else has mainly stayed the same.) July pricing for cardboard sat around $90 a ton, with some pricing seen between the $140 and $170 per ton mark in a couple areas of the United States.
Financial institutions and media have a slightly consistent view as their 2017 forecasts are neutral to bearish on most scrap pricing:
- Goldman Sachs believes that copper prices will fall to around $1.80.
- Morningstar sees copper hovering around the $2 mark for most of 2017.
Metal Miner writer James May had this to say about 2017 steel outlooks:
“As a result, there is the potential for a rebound in pricing by late Q1/early Q2 as consumers realize that there is unlikely to be ongoing material availability….First, fundamental demand is unlikely to show strong growth as automotive build rates are close to a peak and could even drop slightly, while construction demand is struggling amid public sector pullbacks and general industrial output is likely to be flat year-on-year.”
National Average Scrap Prices (As of 12/28/16)
- Bare Bright Copper: $1.85-$2.15
- Copper Pipe: $1.67-$1.92
- Clean Brass: $0.85-$1.15
- Insulated Copper: $0.45-$1.20
- Aluminum Sheet: $0.22-$0.33
- Stainless Steel: $0.21-$0.27
- Aluminum Cans: $0.22-$0.32 (Not CRV Pricing)
- Light Iron: $75-115 per ton
In a couple months, we will check back in on the metal pricing and if the forecasts for 2017 were true!
Don’t forget to visit our website at www.elyent.com and contact us at
Ely Enterprises, Inc.
3809 Broadway Avenue
Lorain, OH 44052
216-252-8090
sales@elyent.com
