02 Aug Scrap Pricing August 2016
Welcome back to the Ely Enterprises Blog!
Today, we are going to look at a snapshot on metal scrap pricing. It’s a volatile market to say the least-but there have been upticks since the lows of January 2016.
Six months ago light iron’s average was roughly 20-50 dollars a ton, compared to the 55-85 dollars we have seen lately. These prices have relatively been the same (see below) since March.
There seems to be some positive foresight in the future-while 2016 may not induce a lot of positive growth, “The World Steel Association (worldsteel) forecasts that global steel demand will decrease by -0.8% to 1,488 Mt in 2016 following a contraction of -3.0% in 2015. In 2017, it is forecast that world steel demand will return to growth of 0.4% and will reach 1,494 Mt.”
National Scrap Metal Price Averages (As of July 28th 2016):
- Bare Bright Copper: $1.72-$1.88
- Copper Pipe: $1.52-$1.77
- Clean Brass: $0.85-$1.15
- Insulated Copper: $0.45-$1.18
- Aluminum Sheet: $0.24-$0.34
- Stainless Steel: $0.21-$0.27
- Aluminum Cans: $0.22-$0.32
- Light Iron: $55-$85 per ton
In a couple months, we will check back in on the metal pricing and the forecast for 2017-hopefully we see the increase we are all looking for!
Don’t forget to visit our website atwww.elyent.com and contact us at
Ely Enterprises, Inc.
3809 Broadway Avenue
Lorain, OH 44052