So this might be a little premature, but what I am hearing today is that the scrap market for steel and iron will be making a pretty drastic recovery in August. Today I am hearing anywhere from $10-$60, and possibly more in the Midwest. If I had to put money on it I would guess that the market will come up $40 in August. Generally what happens in my area is that all the yards wait for someone to get off a sale for the month and then it becomes a free-for-all.
I am also hearing that there might be a peak in aluminum in the U.S. in the near future. This might have something to do with Ford switching to aluminum for some vehicles: Ford Plans New F-150 Pickup Truck With Aluminum Body - WSJ.com
Stainless steel is really crapping the bed right now. My yard is currently paying $0.54 a lb. for 304 SS. I say hold on to your stainless and wait for the recovery...it might take a few more months but I can see it netting you $0.20 more per pound.
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