Good News! Market recovery...

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.

Good news indeed. Ive been hoarding my steel on my patio and in the garage. its getting time to cash in on the leaning tower of scrapzza before it falls on top of me.

Hope your right lush, can't help thinking this is too good to be true

hope your right. since the wheels have come off lets hope we still have an axel.

I hope you're right and thanks for the insight. I've been stockpiling all things steel since the 1st of June.

Expect shred to go up for August $240-$270 per ton - depending on region. :)

YUP its gonna go up how much depends on your area and shipping costs. Those that hoarded are coming out smelling like roses.

I'm glad I hoarded. A lot of people say that scrap is all free money and there's no reason to board but hey I'm making more interest off hoarding my free money than I would at a bank. I know some of y'all do this full time but Im glad I do this on the side because it lets me save up and make the most money when the getting is good. Hope y'all are right about the prices if not I'll keep hoarding until the winter. Prices are always better then.

I will wait untill after Labor Day. A few years ago they called it the "Summer Price Drop". Always went up in September, Let's hope so...

I knew it! Last month shred for me was at $7.75/100 and yesterday I was pleasantly surprised to get $9.25/100. I was completely taken off guard as I thought prices would be in the tank for a while. I'm glad it's picking up. I've been stashing a lot of stuff as well and I'm about to break at the seams!

I called my yard manager about how tin prices are doing and he scheduled a face to face on monday so I'm hoping it's good news!

Ehh I'm not sure this is a long term trend...Copper production is projected to be low so hopefully we will see a rise in that.

My last trip with mostly cd/dvd covers and empty computer cases paid me 220. per ton

Wish I could say my yard went up...the hoarding continues...

I haven't seen steel prices going up yet, still around 7.00 per 100. Copper today I got 3.00 for #1 and 2.80 for #2.

So I'm OK with not having a truck right now. The one I borrow can drop some more shred in the pile by the well and we'll wait a spell on a better price. Time for more breakdown anyway. A friend just offered me their old 27" tv, just got to pick it up. I love the smell of copper in the morning!

Higher prices for aluminum would be fantastic.

I was pleasantly surprised yesterday. I took in a car and got 205$ N/T up 40$!!!
So pleasantly pleasant....
Also 86 bucks for the cat. Got some more cars to move after I remove the cats and drain the gas...yaaaay:cool:

Love scrapping them cars ! Once made 1000$ on a old pick up, gotta love it !

Yes market defiantly started to rise again!

$125/ton for shred and 2.10 for #2 copper.

still way low here on every thing. hope it goes up soon partner wants to sell now. hes more doom and gloom than I am if you can believe that.

Went to the yard today, Shred is up to $205 a ton from 170

Shred back to 200/ton, #2 copper $2.50#

My yard had a $1 price jump for steel today. It went from .07-.08/lb.

:cool:My tin/sheet went from $120 to $150/ton today.

I just took in a small load of cases and misc. tin and my yard is up to $250.nt for clean sheet iron.