Price of scrap metal still heading down?

Doing a lot of reading about the metals market this week. I will be honest, not my area of expertise at all, probably more unsure and confused about the direction of scrap prices. The one thing I do get, have known for most 2015, there is no one cause for these prices. The other thing I do get, we will have a volatile scrap metal market for the next 12 to 14 months, maybe even longer. IMOP we may see some small price increases for brief periods of time, only to be followed by over correcting lower prices.

One of my sources and a place I have been spending a lot of time, trying to understand it all is; Crowe Horwath's "American Metal Market", a good source for all things to do with metals. Here is their link: Trusted metals news and pricing since 1882 | AMM

A chart about secondary aluminum prices and the direction that aluminum is heading. Keep in mind that these are the prices that the smelters and mills are buying scrap aluminum. Not the same prices you or I will get selling scrap aluminum at our favorite non-ferrous yards! What it does show, the yards we sell to are making probably only a couple of cents per pound on their efforts.

There is some indications that scrap steel prices are nearing the bottom, but may be awhile before we see a upward price swing. I found this interesting article about the ferrous export trade, here on the west coast. I copied a few quotes from the article titled: Ferrous scrap export market rebalancing. That was released on October 28, 2015 on AMM web page. Here is the link to the full article: www.amm.com

Export yard buying prices for No. 1 heavy melt in Los Angeles have remained at $80 per gross ton since Oct. 8, while San Francisco yards are paying $70 per ton and Seattle/Portland yards are offering $95 per ton.

“The market has stabilized, but it certainly is not going up anytime soon,” one West Coast dealer said, adding that West Coast dock prices are likely to go either sideways or down a little more.

“Essentially the supply is there, but there is no demand. But something will have to break soon,” a second West Coast dealer said.

Scrap dealers on both coasts are getting most of their supplies from demolition or industrial clients as the number of walk-in scrap peddlers bringing in material continues to dwindle.

​I think we all can relate to that last sentence, especially "as the number of walk-in scrap peddlers bringing in material continues to dwindle". I interpret that quote to mean: "Our hurt will be scrap dealers hurt soon, if they are not already hurting".

I estimate that the price will head down another $20 next month.

Originally Posted by ResourcefulRecycling

I estimate that the price will head down another $20 next month.

What is your price Now??? where is you scrap ending up, that is the important question right now

V/r HT1

Just went down $10 today. We are at $20/ton.