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

MAY 26TH, 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 Tuesday, May 26th, 2015.  My name is Greg Brown, President and CEO of the companies.

 

The overall economy, continues its slow growth around the world, which while too slow for some, the growth is there.  Wall Street continued to hit new highs this week and even the Chinese Stock market is up over 90% this year.

 

Steel Production - Raleigh Metal Recycling

 

 

While ferrous production remains low it picked up a bit last week and is near a multi-month high.  While still low, it is better than it has been.

 

Steel Prices - 2310 Garner Road, Raleigh, NC, 27610

 

 

Ferrous prices remained steady this week in the U.S., but price pressure has been building for overseas shipments.  Many believe there will be a $20 or more per GT price increase in June, but as we have seen before this could change.  A key is that even as warm weather has swept across the country; flows of obsolete material into scrap yards remains very weak. 

 

US Oil Rig Count - (919) 828-5624

 

The oil rig count remains a major drag on steel consumption, but after falling for months, week after week, the rig count only fell by one last week.  Low oil prices have caused this dramatic drop, but as we have all seen, with oil prices having risen in recent months, the number of rigs in the U.S. is stabilizing.

 

Copper Prices - Raleigh Metal Copper Prices

 

Copper had a very bad week.  It started the week at about 2.93 per pound on COMEX and as we go to press, we are at $2.81 per pound, down about 12 cents for the week.

 

Aluminum Prices - Raleigh Scrap Metal Prices

 

Aluminum has continued its dramatic fall in recent weeks.  It remains not clear as to what is happening, but the only thing we know is that prices continue to fall.  Chinese imports and warehouses full of material remain reasons for the drop.

 

Another major publically traded scrap company released poor earnings this week.  With ferrous prices stabilizing and coming back a bit, that has been very positive, but Copper and Aluminum have been down, which is a major negative going forward.

 

Housing Starts - North Carolina Scrap Metal Recycling

 

On a very positive note, housing starts hit a multi year high in April.  Housing creates significant jobs and boosts many aspects of the economy, so it is a very positive sign.

 

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

Steel and Junk cars remained steady.  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.

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

MAY 18TH, 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, May 18th, 2015.  My name is Greg Brown, President and CEO of the companies.

While commodity prices remain mostly steady, prices remain low across the industry. The S&P 500, the broad index on Wall Street, hit a new all-time high last week.  European stocks remain near their all-time highs as well, meaning things are pretty good, but not for commodities, due to weak manufacturing globally.  Also, the solid U.S economy causing the U.S. dollar to be strong, hurts commodity prices, which are priced in U.S. dollars.

Steel Production - Raleigh Scrap Metal Recycling

While Ferrous production remains low and dropped a bit last week, a number of steel mills and scrap yards announced closings.  The low production volumes, which are heavily caused by imports, led to AreclorMittal, announcing the closing of their steel mill in South Carolina.  This low volume brought other major announcements, such as OmniSource closing some operations in the Southeast, ISA shutting their shredder, SMS shutting operations in the Midwest and a small operation in PA announced they were closing.  This is after Schnitzer announced 10 days ago they were closing two operations in the SE. 

When we said last week we thought there would be some upcoming closings, we never thought that in one week we would see so many announcements and we have never seen this many announcements in about a week, ever.

US Oil Rig Count - Raleigh Copper Scrap Metal Prices

With oil drilling being a major consumer of steel, the only good news here is has that the dramatic drop in oil rigs, drilling in the U.S. is slowing.  They have been down for 23 weeks in a row.  While oil prices are still well below those of a year ago, they are in fact up about 40% from the low of a few months ago.  This is slowing the reduction in the oil rig count, but at 660 rigs, they are now down about 60% from the high of 1,609 rigs last October.

Steel Prices - 2310 Garner Rd, Raleigh, NC, 27610

Ferrous prices remained pretty steady after ferrous selling week two weeks ago.  With production low at U.S. Mills and volumes into scrap yards incredibly low, we see little chance that ferrous prices will be down next month.  If they rise, it will not by a lot.

Copper Prices - NC Scrap Metal Recycling

Copper after rising almost steadily for a few months, seems to have hit a stabilization point and now has spent its second week at just about $2.92 per pound.  With even more good economic news out of Europe and two weeks ago, China adding some stimulus, it is clearly helping support copper prices.

Aluminum Prices - (919) 828-5426

  

Aluminum is a very different story.  As said, Steel and Copper have been steady.  Aluminum has dropped significantly.  The reason may be partly what caused the major steel declines.  Imports.  There is word of major imports of aluminum coming in from China, so despite volumes being good; prices are down significantly in recent weeks.

On a positive note, congratulations to our friend Randy Goodman in taking a key role with Greenland America to help them in their U.S. growth.

Copper prices were up last week in our NC operations and Aluminum was down.  Steel and Junk cars remained steady.  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.