Scrap Iron price jump 12/6/16

All ferrous and some copper went up this morning. (*upstate NY)

Cars = $163 GT ^$25
Tin/shred = $163 GT ^$25
Short Steel prep = $208 GT ^$30
Rotors/drums = $220 GT ^$30

Bare Bright = $2.25 lb ^$.15
#1 = $2.12 lb ^$.15
#2 = $1.91 lb ^$.15
insl wire #1-3 no change (go figure)

Clean Alum only up .01 = $.44 lb

Last time I saw this jump, it only lasted 4 days then dropped below where it was.
Last rush before our piles freeze to the ground maybe

Sheet iron up 20/Ton here. Copper down .10/lb at one yard.

Big price jumps in NewZealand. I got NZ $100/ton for some lightgauge I sold last week.
While that's only US$71.oo/metric ton. Its much better than NZ$60 a few months ago & NZ$40/ton for the last few years.

Also, Copper #2 is up to NZ$6.40/Kg, last time I sold Copper it was only NZ$5/kg. It has not been $6.50 for a few years now.

This is a real good thing as its almost our Christmas/end of year/summer holiday time when all of NZ takes two weeks holidays.
And of course everyone sells their scrap metal stash, as well as firms selling their scrap so the workers get the $ as a end of year bonus.

My yard is up about $10/GT on Lite Iron. Some wire is up $.05-.10/#, too, except ICW which seems to be staying where it's been most of the year. Aluminum hasn't budged.

The real shocker is a $.02/# jump on CFC appliances.

$90 a ton shred here

Originally Posted by mthomasdev

Personally, I think that this increase and last months $30 increase will hold for at least the month of December. Both had been widely predicted. I follow Mike Marley's weekly Shredded Power article and have been stockpiling in anticipation of these increases.

I think the increase that you mentioned only lasted 4 days(some time in spring 16) was tied in with the opening of the New Castle shredder. Guessing that a portion of that $40 increase was a teaser to get people into the new yard.

Mike Marley's latest Shredded Power article is predicting a $30 to $40 jump in ferrous prices this month. May take a few days for dealers to sign with mills. Sounds like alot of them don't want to jump in too soon and at too low of a price. I would suggest holding any ferrous until at least late next week.

Shred price up another 20/ton here yesterday on the south side of Chicago. @130/ton

Originally Posted by taterjuice

Where do I find this guys articles ?

He is a contributer on Scrap Monster. Link at the top of the forum. Articles are posted weekly. They took a week off at Christmas.

Originally Posted by mthomasdev

Mike Marley's latest Shredded Power article is predicting a $30 to $40 jump in ferrous prices this month. May take a few days for dealers to sign with mills. Sounds like alot of them don't want to jump in too soon and at too low of a price. I would suggest holding any ferrous until at least late next week.

Tater,

If you are selling to a feeder yard, don't be surprised if they don't pass on all of the increase they get. I have seen this first hand over the last couple of months.

Originally Posted by mthomasdev

Mike Marley's latest Shredded Power article is predicting a $30 to $40 jump in ferrous prices this month. May take a few days for dealers to sign with mills. Sounds like alot of them don't want to jump in too soon and at too low of a price. I would suggest holding any ferrous until at least late next week.

As I predicted, $30 per GT increase effective tomorrow at Ben Wietsman / Upstate Shredding. Albany NY location 197 for shred. New Castle PA 240 for shred.

$118 net ton clean sheet iron by me

confirmed price up tomorrow ... load-em up boys