Metal Commodities and Recycling Report, Raleigh Scrap Metal Recycling, 2310 Garner Rd, Raleigh, NC, 27610, 919-828-5426

RALEIGH METAL RECYCLING
METAL COMMODITIES AND RECYCLING REPORT
2310 GARNER ROAD
RALEIGH, NC 27610

 

This is the Commodities and Recycling report, brought to you by BENLEE the industry leader in roll off trailers and open top scrap trailers, as well as Raleigh and Goldsboro Metal Recycling, the leaders in North Carolina for Scrap Metal, Cardboard, Electronics and Junk Cars. 

 

Today is Monday, June 29, 2015.  My name is Greg Brown, President and CEO of the companies.  

 

There was no good news last week in commodities and recycling as the world had to deal this past weekend with Greek debt issues.  Last weekend it looked like there was hope that all would be resolved, but things turned ugly in recent days. 

 

Steel Production

 

Steel production came down a bit last week, but for good news, it has been slowly rising for months.  Commercial Metal Corporation released their earnings last week and had higher earnings, with the increase in steel shipments being a key reason, along with a major reduction in raw material pricing, which of course is mainly scrap metal.  That followed with their recycling division having doubled their loss over last year, due to lower volumes and lower prices. 

Oil Rig Count

Related while the oil rig count dropped for an unprecedented 29^th week, the gas rig count was up, so the total oil and gas rig count was actually up for the first time in months.  As has been said, these markets are major consumers of steel and produce significant amounts of scrap metal.  With oil prices stable, we expect the oil rig count to stabilize as well.  Refinery capacity for gasoline, which remains at high levels has cause gasoline prices to rise, despite stable oil prices.  This increase is erasing some of the economic benefits that we saw in the economy with lower oil prices.

Copper Prices

Copper prices which came up a bit two weeks ago, stabilized last week.  While the Greek news is a negative for prices, China lowered interest rates over the weekend as well as eased banking reserve rules, both of which should help the economy.  China’s stock market which had become overheated this year has come down more than 10% in recent days, so things are in flux there, which could be a negative on material prices.  Remember, China consumes 50% of the world’s copper.

Aluminum

Aluminum is much the same as copper in that it was somewhat stable last week, yet remains near multi year lows.

 

We were in Dallas, Texas last week, at the ISRI Gulf meeting, seeing friends and customers.  The mood was somewhat depressed in that with the oil and gas drilling business down, as are scrap metal prices, flows of metal and profits remain depressed. 

 

On the positive side there is word that car sales in the U.S. which will be released this week, will be strong, which is helping many parts of the economy.

 

Also, congratulations to our friends at Hardee’s Recycling in Greenville, NC, who set up an ATM last week to offer more value to their customers.

 

There were no changes in prices last week in Raleigh and Goldsboro.

 

Please call us at 919-828-5426 in Raleigh, 919-731-5600 in Goldsboro.

 

With that we hope all have a Safe and Profitable week.   Tune in next week for the Commodity and Recycling report.

Metal Commodities and Recycling Report, Raleigh Scrap Metal Recycling, 2310 Garner Rd, Raleigh, NC, 27610, 919-828-5426

Raleigh Metal Recycling

Metal Commodities and Recycling Report

June 15, 2015

2310 Garner Road

Raleigh, NC 27610

This is the Commodities and Recycling report, brought to you by BENLEE the industry leader in roll off trailers and open top scrap trailers, as well as Raleigh and Goldsboro Metal Recycling, the leaders in North Carolina for Scrap Metal, Cardboard, Electronics and Junk Cars. 

Today is Monday, June 15, 2015.  My name is Greg Brown, President and CEO of the companies.

Overall while the global economy continues its slow steady growth, China which is a key driver for commodity pricing, continues to be very weak in scrap metal consumption.  This weakness along with the uneasiness with the financial debt problems in Greece, brought another problematic week for commodities.

Steel Production

 

 Steel production had a nice little uptick last week and is up for the past few weeks, but it is still well below last year.  

Oil Rig Count

One of the reasons for this low steel production in the U.S. is that the Oil rig count has now fallen for 27 weeks in a row, and is now at the lowest point in almost 5 years.  Related, imported finished steel remains a problem for U.S. steel mills, thereby hurting their production.  As has been reported, scrap yards have been experiencing multi year lows of incoming scrap coming into their yards, so prices rose a bit two weeks ago, which the chart shows. 

Steel Prices

Even with this ferrous increase, scrap flows remain very, very weak, as do profits.  Scrap yards that have mainly retail business remain under enormous profit pressure due to this low volume.  If the low growth continues in steel production, we could see another small increase in scrap steel prices due to the poor incoming scrap steel rate.  We know of one steel mill that stayed open this past Saturday in hopes of securing more incoming ferrous metal, due to the incoming scrap was so slow.

Copper Prices

Copper prices touched a three month low this morning and they remain near their 5 year low.  We see no catalyst that will cause an increase in copper prices anytime soon.  As we have discussed, China consumes 50% of the world’s copper and China is clearly not increasing their consumption.  The China slowdown has caused their government to drop interest rates multiple times in recent months to boost their economy and as we go to press, they may have dropped them again today.

Aluminum Prices

Aluminum dropped a bit this week and is close to the 5+ year low it hit about a year ago.  We remain in the belief that aluminum prices are near their bottom due to aluminum inventories are hitting new 5+ year lows.  

Aluminum Inventory

With energy prices down in the past year, aluminum recycling is less of a driver, so again, there is little reason to believe aluminum prices will be coming up soon.

Congratulations to our David Gibb for being named one of the CFOs of the year in the Raleigh area.  Well done in a very tough market and well done in teaming with Fifth Third Bank in supporting our operations in these tough markets.  And more congratulations to Upstate Shredding and Columbus Recycling as they were both named Scrap companies of the year in their category by AMM.

Prices for Aluminum and copper were unchanged last week in Raleigh, Goldsboro and Wilson.

Steel and Junk cars we up.  Please call us at 919-828-5426 in Raleigh, 919-731-5600 in Goldsboro and 252-243-3586 in Wilson for prices. 

With that we hope all have a Safe and Profitable week.   Tune in next week for the Commodity and Recycling report.

Metal Commodities and Recycling Report, Raleigh Scrap Metal Recycling, 2310 Garner Rd, Raleigh, NC, 27610, 919-828-5426

RALEIGH METAL RECYCLING 

METAL COMMODITIES AND RECYCLING REPORT

June 8, 2015

2310 GARNER ROAD

RALEIGH, NC, 27610

 

This is the Commodities and Recycling report, brought to you by BENLEE the industry leader in roll off trailers and open top scrap trailers, as well as Raleigh and Goldsboro Metal Recycling, the leaders in North Carolina for Scrap Metal, Cardboard, Electronics and Junk Cars. 

 

Today is Monday, June 8, 2015.  My name is Greg Brown, President and CEO of the companies.

 

Overall the economy continues its slow growth around the world.  Last week the U.S. had a very strong jobs report and car sales in the U.S. had their best month since July 2005, almost 10 years ago.  Related with the slow growth in the U.S., the IMF, the International Monetary Fund, took down their forecast of U.S. growth and urged the U.S. not to raise interest rates in 2015.

 

 

Steel Production

While ferrous production came down a bit last week, it has been trending up for months and is now nicely up from its April multi year low.  Related a group of U.S. steel mills filed anti-dumping charges against foreign steel mills, due to the flood of imported steel.  As the U.S. economy continues to gain strength and with imports of scrap metal flat, the low prices of scrap metal causing low incoming rates to scrap yards caught up with the market. 

 

As was forecast about a week ago, the increase in ferrous pricing became a reality, with prices up $20 to $30 a Gross ton, the first real increase in months.  While this increase is significant, the question is, will it be enough to help reverse the enormous drop in material coming into scrap yards. 

 



Oil Rig Count
 

Steel consumption in the U.S. is not getting a lot of help from oil drilling, which until last year consumed enormous amount of metal.  Last week was the 26^th consecutive weekly decline in the oil rig count in the U.S.  The good news is with oil now up almost 50% from the multi-year low of a few months ago, the oil rig count is close to stabilizing, but Business Insiders’ graph is nothing other than ugly.

 

Aluminum Prices

While scrap steel has had its first increase in months, Aluminum has been a totally different story.  Prices are at more than a 5 year low. 

Aluminum Stock levels

 

Imports and last year’s high inventory levels caused some of this decline.  Aluminum inventory levels having hit multi year highs about a year ago are now at 5+ year lows.  Based on these new inventory lows and the U.S. Dollar having weakened a bit in recent weeks, we would expect Aluminum prices to stabilize in the coming weeks.

 



Copper Prices

 Copper after having hit a multi month high about a month ago has been declining for weeks, having dropped about 25 cents in the past three weeks.  Of course with China continuing to slow, and 50% of the world’s copper consumed there, we see no major increase in copper prices coming any time soon.

 

We were in Las Vegas for the annual Waste Expo show last week.  Almost all the news there was positive for equipment suppliers.  The major drag on the waste industry is that recycling for the companies like Waste Management is not profitable and they are not investing in the recycling part of their business.  Waste is OK, but recycling is a problem due low commodity prices.  These continued low profits caused one the major metal recycling companies in the Midwest, PSC to announce new site closings.  In the past 30 days many scrap metal companies have closing sites and shutting down shredders.

 

Prices for Aluminum and copper have come down this week in Raleigh and Goldsboro.

Steel and Junk cars we up.  Please call us at 919-828-5426 in Raleigh and 919-731-5600 in Goldsboro for prices. 

 

With that we hope all have a Safe and Profitable week.   Tune in next week for the Commodity and Recycling report.

Raleigh Metal Recycling-Free Friday Cash! Recycle Copper, Aluminum and more, for great prices per pound

Free Friday Cash

Raleigh Metal Recycling

2310 Garner Road

Raleigh, NC 27610

919-828-5426

4/24/15

 

 

Congratulations to Gustavo Lopez for being the winner of last week's Cash drawing.  Come by and get your Cash and of course bring us more scrap metal!

 

Greg Brown

gbrown@raleighscrapmetalrecycling.com

919-828-5426

 

 

Appliance Pick Up in Raleigh, NC

 

 

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Thanksgiving Weekend Hours, Raleigh Metal Recycling, for Scrap Metal Recycling of Copper, Aluminum, Junk Cars and MORE! 2310 Garner Road Raleigh, NC, 27610, 919-828-5426

Thanksgiving Hours

Raleigh Metal Recycling

2310 Garner Road

Raleigh, NC, 27610

Tel 919-828-5426

CLOSED Thanksgiving-Thursday

OPEN Friday and Saturday

To allow all our associates to celebrate Thanksgiving with their partners and families we will be closed all day this Thursday, Thanksgiving Day.  This is a day to celebrate and be thankful for all we have and as was custom years ago, be thankful for 'the harvest'.

We at Raleigh Metal Recycling will add that we thank you, our customers for selling us material and to our associates for supporting our customers and our business in these difficult times in the industry.

For Fair Weights, Best Prices, and Great Service – Come to RALEIGH SCRAP METAL RECYCLING Today!

Greg Brown

919-828-5426

gbrown@raleighscrapmetalrecycling.com

For today’s prices call our main number at 919-828-5426 and after the Greeting, Press 2, you will hear a recording of "Today's Prices".

Raleigh Metal Recycling

2310 Garner Road

Raleigh, NC

-Great Prices

-Outstanding Service

-Industrial Pick Up and Public Drop off

-11 Digital Scales to get you in and out-FAST!

-Junk Cars-We TOW, Call 919-758-3764

OR

You Drive in, Tow in

When in Raleigh, Durham, Apex, Butner, Cary, Chapel Hill, Clayton, Dunn, Garner, Henderson, Knightdale, Lumberton, Oxford, Mebane, Morrisville, Roxboro, Sanford, Smithfield, Wake Forest, Burlington, Fayetteville, Fuquay-Varina, come see us at:

Raleigh Scrap Metal Recycling

2310 Garner Rd.

Raleigh, NC 27610

Tel 919-828-5426

www.raleighscrapmetalrecycling.com

When in Goldsboro, LaGrange, Kinston, Mt. Olive, Smithfield, New Bern, come see us at:

Goldsboro Scrap Metal Recycling

801 N. John St.

Goldsboro, NC 27530

Tel: 919-731-5600

www.goldsboroscrapmetalrecycling.com

When in Wilson, NC, Tarboro, NC, Rocky Mount, NC, Greenville, come see us at:

Wilson Scrap Metal Recycling J & G

404 Maury Road S

Wilson, NC, 27892

Tel 252-243 3586

www.wilsonncscrapmetalrecyclingjg.com

Want to JUNK your CAR FOR CASH??!!!

CLICK HERE to check out our Junk and Salvage Car Website

http://junkmycarnc.com/

BENLEE Roll Off Trailers For Sale!

CLICK HERE

www.benlee.com

Greg Brown

greg.brown@raleighscrapmetalrecycling.com

919-828-5426