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.

 

Due to our travel schedule this is a special Friday Commodities report July 17th, 2015 instead of our normal Monday report.  My name is Greg Brown, President and CEO of the companies.

 

There was little good news this week in commodities and recycling.

Steel Production

 U.S. steel production ticked up a bit in the last week, which follows with the slow continued increase in the U.S. economy.  As has been reported here, parts of the economy such as home sales and car sales are at 9 to 10 year highs.


Oil Rig Count

The oil rig count that had stabilized and was up for two weeks came down a bit last week.  This follows with oil prices coming down to new multi month lows and means less steel is being used in drilling.

Heavy Melt Price

As for scrap steel prices, as we all know they came down this month and some say they could come down again in August.  With the U.S. dollar strong, scrap metal continues to come in to the U.S. from other parts of the world.  It also means that major importers of scrap steel like China are buying more from Europe and less from the U.S.

Copper Prices

Copper prices which hit new 6+ year lows two weeks ago and then rose a bit, came steadily down last week.

Copper Stocks Level

In another bad sign, copper inventories have been rising for weeks and are near multi month highs.  Bloomberg reported last week that some think copper could drop another 13% this year.  There is no good news for copper.

Aluminum

Aluminum, which also hit new lows two weeks ago, stayed pretty flat at a level just above those new recent lows.

 

As for general news, the U.S. stock market hit new highs last week, and oil hit new multi month lows.  This could help spending and help create demand, which could mean that the bottom for commodities could be close.

 

Permits for new home building rose to the highest level in June since July 2007 and the home building sentiment index, hit a new 10 year high, both very positive signs for good things to come in the economy, but not for recycling, unless China and Europe start growing at a healthy rate.

 

Lastly for those members if ISRI-the scrap recycling organization that have joined the Circle of Safety, you should review joining it to share and improve your safety operational issues with others.

 

For current prices, 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
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, July 13th, 2015.  My name is Greg Brown, President and CEO of the companies.

 

There was nothing but turmoil and bad news in the markets last week, despite some very good news two weeks ago.  Today, Monday things remain very precarious with the Greek debt issue looking like there may be some resolution and China’s stock market being a key worry.

Steel Production

U.S. steel production came down a bit in the last two weeks after a few months of gains.  In recent weeks there has been word of a softening of orders in many industries which is a concern.

Oil Rig Count

One the positive side, we mentioned last week that automotive sales in June had hit a ten year high.  We can add that last week the oil rig count rose for a second week in a row, after 29 weeks of declines.  This along with strong automotive sales is a positive for U.S. steel consumption.  With that said oil prices dropped about 8% last week, which will probably stem this increase in U.S. oil drilling.

 

Oil production in the U.S remains strong and if there is a deal with Iran on nuclear issues, that will reduce world oil prices as Iranian oil flows freely.

Heavy Metal Price

Put together there was a dramatic change in ferrous prices last week.  This chart will show a dramatic drop with next week’s update.  Last Monday, there was word that some markets were stable and even up.  By Tuesday, all looked down a bit and by Wednesday as word in China and Europe turned negative, ferrous prices came down $20-$25 per GT.  As an example of bad news, the Chinese stock market after almost doubling in the past year fell 36% in about a month.

 

Since that the fall, the Chinese government stepped in last week and has been pouring money into their stock market, which toward the end of the week, had its best days since the crash of 2009.

 

Note that the lowering of steel prices will further reduce flow and profits in scrap yards, especially in the SE, but there is enough scrap metal coming in from Europe on barges to meet demand.

Copper Prices

Copper prices crashed along with steel last week.  Copper hit new 6 plus year lows on Wednesday.  Again as China slows, copper prices are hit hard.   With oil prices yet again coming down, this should work to increase consumer spending and should help copper prices.

Aluminum

Last week aluminum had almost the exact movement as copper, by hitting a new 6+ year low mid-week and then bounced up a bit.

 

These low volumes and profits in the scrap industry, took yet another toll last week.  Kemp Recycling that had three North Carolina operations two years ago, closed two of them about a year ago and there is word that the third and last one closed last Friday.  This mostly retail scrap yard is the type of yard that is being hurt very badly in this downturn that shows no sign of getting better anytime soon.

 

For current prices, 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
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.

Copper Scrap Prices for Wire, Metal

Copper Scrap Prices for Wire, Metal
Raleigh NC, Durham, NC, Garner, NC

Copper prices remain at a low end of where they have been in the past year.  Did you know that copper scrap is priced based on global demand?  Importantly, copper recycling is a big business all over the world.  We try to pay the most we can, and our price is based on what we can sell it for.  The good news is that our high volume of copper coming in is due to our great customers, whether they be the public, factories, or partner recycling operations that sell to us. And even with the slight drop, we still get great prices whose benefit is passed on to you, the ones who keep us going.  

Still committed to paying it forward

We are the largest scrap metal buyer in Raleigh, NC, and we're the largest scrap metal buyer from the public and industrial companies in the entire Triangle. So, despite this slight dip in price, we're doing our best to bring our great purchasing power to you!  Of course, we also buy Junk Cars and Salvage cars, and even batteries, computers, electronics, steel and Aluminum cans.  Come see us if you are in Durham, Chapel Hill, Wake Forest, Clayton and Henderson and more.  We are Raleigh Recycling at its best.

Copper Scrap prices Wire, Metal