Scrap Prices are going up and not down in my area

Well over the past 2-3 weeks i've seen the yards unloading their shred. Everybody said this was a sign that prices are about to drop. However, prices have gone up.



Last week: $222.00 per ton
This week: $242.00 per ton

SIMS Metal Management-SALT LAKE CITY, UTAH

Yes things have been on the up and up. It will probally level off at those prices for a while.

prices normally fall off at the end of the year and pick up after the first of the year.

Talked with a buyer today who expected around 300/ton in Ohio this month, but he expected a slight summer dip.
Passed a yard this morning that was advertising 270/ton..up $10 this week.

$300 a ton would be bad! Way too many people here out scrapping at $200!

Our NZ copper value (1Kg) has gone up from NZ$7.20 to NZ$7.40 and then to NZ$7.60 in the last week.