Raleigh Metal Recycling
Commodities & Recycling Report
Monday, March 16th, 2015
2310 Garner Road
Raleigh, NC, 27610
(919) 828 - 5426
This
is the Monday 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, March 16th, 2015.
My name is Greg Brown, President and CEO of the companies.
It
was a quite week in the commodities markets.
On
the negative side, the oil and gas drilling rig count continued to decline,
with Baker Hughes saying rigs in the U.S. are now down an enormous 38% from a
year ago, going from 1,809 to 1,125.
This sharp reduction reduces the demand for steel used in these rigs,
which continues to cause layoffs in U.S. steel manufacturing.
On
the positive side, the weather has greatly improved which will help the demand
for steel in construction, cars and trucks, as people wonder out to buy new
vehicles. Despite the terrible weather Automotive
sales were actually up last month, so there remains only good news for car and
truck production.
Despite
some of the positive economic news, a major drag on steel, copper, aluminum and
other commodities, remains the incredible, strength of the U.S. dollar. It hit yet another 12 year high against the
Euro last week of just under $1.05 dollar to the euro, a level not seen since
2003. The strong dollar continues to
hurt scrap metal exports and in fact as discussed last week, has scrap metal
coming in from Europe, which is driving down U.S. scrap metal prices. Related, finished steel goods continue to be
shipped to the U.S from overseas, thereby being a key reason that U.S. steel
production hit yet another new multi-year low last week.
Prices
of scrap steel remained steady last week and there is word in the industry of a
bump up in ferrous pricing in April, mainly due to the incredibly poor flows
into scrap yards, even though the weather has improved.
Copper
prices also remained steady last week, but are still near their multi-year lows.
Aluminum
had a good couple of days toward the end of the week, but it too is near a multi-year
low.
Aluminum may rebound soon in that Aluminum
inventories are now at low levels not seen in over 5 years.
Note,
there were no changes in our scrap metal prices last week in North Carolina,
with our Raleigh prices of #1 copper being $2.20 per pound and Prepared Steel
being purchased for $6.25 per hundred pounds.
As
for the recycling industry, in recent weeks there have been a number of
negative Wall Street reports about some of the major publically traded
recycling companies. The above pricing
and currency dynamics are hurting the industry.
At least one small scrap metal recycling operation has announced closing
in the past two weeks, shredders are being shut down, there is word of other
closings and many operations have cut operating hours to reduce costs.
In
a crazy twist, cash flow in some scrap yards has been good in recent
weeks. This is like a false high, in
that this positive cash flow was due to very low levels of buying scrap material,
so there is little money going out. Increased
profits are not the reason. This low
buying level means profits in scrap yards that have significant retail business
will be greatly depressed in March and April.
Lastly,
gasoline prices remain well below last year.
Many are still hopeful this will boost overall economic spending and therefore
boost metal production and prices around the world.
With
that we hope all have a Safe and Profitable week. Tune in next week for the Monday Commodity and
Recycling report.
For a list of product specifications CLICK HERE
For a list of What We Buy - CLICK HERE
For Fair Weights, Best Prices, and Great Service – Come to Raleigh SCRAP METAL RECYCLING Today!
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
-Great Prices
-Outstanding Service
-Industrial Pick Up and Public Drop off
-11 Digital Scales to get you in and out-FAST!
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
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
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
BENLEE Roll Off Trailers For Sale!
Greg Brown
greg.brown@raleighscrapmetalrecycling.com
919-828-5426
greg.brown@raleighscrapmetalrecycling.com
919-828-5426
