Wilson Metal Recycling
Metal Commodities and Recycling Report
404 Maury St. S. Wilson, NC 27893
252-243-3586
This is the Commodities and Recycling report, brought to you by BENLEE the industry leader in roll off trailers and open top scrap trailers, as well as Raleigh and Goldsboro Metal Recycling, the leaders in North Carolina for Scrap Metal, Cardboard, Electronics and Junk Cars.
Due to our travel schedule this is a special Friday Commodities report July 17th, 2015 instead of our normal Monday report. My name is Greg Brown, President and CEO of the companies.
There was little good news this week in commodities and recycling.
 |
| Steel Production |
U.S. steel production ticked up a bit in the last week, which follows with the slow continued increase in the U.S. economy. As has been reported here, parts of the economy such as home sales and car sales are at 9 to 10 year highs.
 |
| Oil Rig Count |
The oil rig count that had stabilized and was up for two weeks came down a bit last week. This follows with oil prices coming down to new multi month lows and means less steel is being used in drilling.
 |
| Heavy Melt Price |
As for scrap steel prices, as we all know they came down this month and some say they could come down again in August. With the U.S. dollar strong, scrap metal continues to come in to the U.S. from other parts of the world. It also means that major importers of scrap steel like China are buying more from Europe and less from the U.S.
 |
| Copper Prices |
Copper prices which hit new 6+ year lows two weeks ago and then rose a bit, came steadily down last week.
 |
| Copper Stocks Level |
In another bad sign, copper inventories have been rising for weeks and are near multi month highs. Bloomberg reported last week that some think copper could drop another 13% this year. There is no good news for copper.
 |
| Aluminum |
Aluminum, which also hit new lows two weeks ago, stayed pretty flat at a level just above those new recent lows.
As for general news, the U.S. stock market hit new highs last week, and oil hit new multi month lows. This could help spending and help create demand, which could mean that the bottom for commodities could be close.
Permits for new home building rose to the highest level in June since July 2007 and the home building sentiment index, hit a new 10 year high, both very positive signs for good things to come in the economy, but not for recycling, unless China and Europe start growing at a healthy rate.
Lastly for those members if ISRI-the scrap recycling organization that have joined the Circle of Safety, you should review joining it to share and improve your safety operational issues with others.
For current prices, please call us at 919-828-5426 in Raleigh, 919-731-5600 in Goldsboro.
With that we hope all have a Safe and Profitable week. Tune in next week for the Commodity and Recycling report.
