Weekly What’s Update: Reasons for Steel Market Drop

unnamed copyHey iScrappers!

A week closer to Turkey Day, hopefully you are thankful to be finding scrap all over the place. We have tried to really dig deep into what is going on with the steel markets to get many of you an answer on why such drastic pricing drops.

The iron ore market has fallen about 44% this year (that is the product coming direct from mines across the world), and that drop has been the largest in the last 5 years. Because of that drop, scrap products have done the same downwards swing.

In the last week, copper has gone up and down but has stayed in the same area across the country, and hopefully this can continue throughout the rest of the year.

Anything else that you need just let us know, until next week…scrap ya later!

  • Bare Bright: $2.33-$2.73
  • Copper Pipe: $2.13-$2.63
  • Clean Brass: $1.40-$1.70
  • Insulated Copper: $0.80-$2.05
  • Aluminum Sheet: $0.36-$0.51
  • Stainless Steel: $0.41-$0.60
  • Aluminum Cans: $0.35-$0.55 (Not CRV Pricing)
  • Light Iron: $160-$215 per ton

Prices as of 11/12/14

The steel market has been dropping over the last month or so and we have been trying to be up front as possible with our news about the scrap prices and how they are going to be reflected in your yard’s prices. Be sure to contact your local scrap yard and ask them what kind of changes they have been paying at the scales and what they are expecting over the next few days. If you are itching to get rid of some of your materials before the markets start to drop off again, now may be a good time to do so before most of the country starts to head into the depths of winter.

During everchanging market conditions, it is important more than ever to stay updated with current scrap prices and news. The iScrap App team is here to help you stay informed on changes with the market, prices, and more. Be sure to check back to our iScrap App blog every week for more information. Check out some of our latest articles on the market and news:

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