Metal Commodities and Recycling Report, Wilson Metal Recycling, 404 Maury St S, Wilson, NC, 27893, 252-243-3586

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 31th, 2015 instead of our normal Monday report.  My name is Greg Brown, President and CEO of the companies.

 

While last week was a very bad week for the recycling industry, this week was no better.

 

Steel Production

U.S. steel production in the U.S. came up a bit last week, which is part of the continued increase that has gone on since the April low of a few months ago, but steel production remains well below last year and below their historic highs.  This is due to the flood of finished goods steel imports and the lack of demand.

 

Oil Rig Count

On the positive side, the oil rig count that was released this afternoon has risen for 4 of the past 5 weeks.  Oil rigs use major amounts of steel.  Oil prices have come down a lot in recent weeks, so this increase could be short lived.

 

Steel Prices

And now for bad news, China remains weak, their stock market is in turmoil and since the U.S. economy is pretty good vs. Europe and China, the U.S. dollar is strong.  The strong dollar hurts commodity prices which are based dollars.  This chart shows steel prices near multi years lows as of today.

 

But things are getting worse.  We believe when steel trades next week, it will be at least $20/GT lower than it is today.

 

This lowering of scrap prices had many scrap yards lower their prices in the past week.  It will surely slow incoming flows and put pressure on scrap yards in the coming months.

 

Copper Prices

Copper is going nowhere fast and in fact continues going down slowly.  While somewhat stabilizing in recent days, copper prices hit a new 6 plus year low in the last week.

 

Copper Inventory

We see no reason for copper prices to increase any time soon, especially with copper inventories hitting a high for the year.

 

Aluminum Prices

Aluminum is also just about at a 6 plus year low in the past week.

 

Aluminum Levels

There is a positive though for Aluminum prices.  Inventory levels are at 6 year plus lows, so there could soon be some stabilization of aluminum prices.

 

There was not a lot of major industry news this week, other than how bad things are.   The major down turn in steel in the past few months and next month, combined with the new lows on Copper and Aluminum are going to put huge stress on scrap yards that are mostly retail.  Sadly more closings will follow.

 

On the economy, things remain OK, but not great.

 

Home Sales

One of the key issues that remain a major drag on the economy is housing.  New housing is less than half of what it was in 2005.  Also this week it was released that while cars sales are near record levels, they are lower than they could be due to the average age of a car on the road today is at new a high, which is 11.5 years.

 

On the positive side, oil has come down a lot in recent weeks and we are seeing some major drops in gas prices.  This well help consumers around the world and give them more money to spend on items that could help commodity prices.

 

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.

Wilson, NC, Copper Scrap Metal Prices

Wilson, NC

Copper Scrap Metal Price

 

 

 

Wilson, NC Recycling, also known as Wilson Metal Recycling JG is the best place to recycling copper in Wilson, Tarboro, Rocky Mount and more. 

 

Copper prices has declined this year, but as the below shows price have been up in the past month. 

 

 

If you want great prices for scrap copper and get paid cash, come see us.  We recycling copper wire, copper pipe, insulated, or not insulated.  Come see us.


When in Wilson, NC, Tarboro, NC, Rocky Mount, NC, come see us at:

Wilson Scrap Metal Recycling J&G

404 Maury Road S
Wilson, NC, 27892
Tel 252-243 3586

www.wilsonncscrapmetalrecyclingjg.com

When in Raleigh, Durham, Apex, Butner, Cary, Chapel Hill, Clayton, Dunn, Garner, Henderson, Knightdale, Lumberton, Oxford, Mebane, Morrisville, Roxboro, Sanford, Smithfield, Wake Forest, Burlington, Fayetteville, Fuquay-Varina, come see us at:

 Raleigh Recycling

2310 Garner Rd.
Raleigh, NC 27610

Tel 919-828-5426

www.raleighscrapmetalrecycling.com


When in Goldsboro, LaGrange, Kinston, Mt. Olive, Smithfield, New Bern, come see us at:

Goldsboro Recycling

801 N. John St.
Goldsboro, NC 27530

Tel: 919-731-5600

www.goldsboroscrapmetalrecycling.com 

 

Greg Brown

gbrown@wilsonncscrapmetalrecyclingjg.com
252-243-3586

 

Copper Scrap Metal Prices

 

 



From Wall Street Journal

December 31, 2013, 1:54 p.m. ET

Copper Prices Edge Higher But End Year Down 7%

--Comex March copper ends up 0.4% at $3.3965/lb
--Copper prices inch up after stronger U.S. consumer confidence
--Copper ends 2013 down 7% as China worries linger

 
   By Tatyana Shumsky 
 

NEW YORK--Stronger U.S. economic data gave copper futures a boost Tuesday on the final trading day of 2013, but prices still ended the year down 7% on lingering worries about China.
The most actively traded contract, for March delivery, rose 1.40 cents, or 0.4%, at $3.3965 a pound on the Comex division of the New York Mercantile Exchange.
Copper prices spent the first half of 2013 under pressure, as slowing manufacturing activity in China coupled with increased supply of the metal from the world's mines turned many investors bearish. China is the world's largest copper consumer, accounting for about 40% of global demand for the industrial metal.
Futures plumbed their lowest levels in nearly three years in June, when a Chinese credit squeeze left many investors fearing knock-on effects on the construction and manufacturing sectors, which drive copper use.
But futures staged a rebound in recent months, amid a steady stream of upbeat economic data from the U.S., the world's second-largest copper user.
Moreover, the Federal Reserve's decision earlier this month to start winding down its stimulus efforts, announced was seen as a sign of faith in the U.S. economic rebound by some investors, said George Gero, a senior vice president with RBC Capital Markets Global Futures.
"Copper investors look at increasing interest rates as a sign of improving economies are going to be using more copper," Mr. Gero said.
On Tuesday, copper's gains came after by data from private research group The Conference Board showed U.S. consumer confidence bounced back to 78.1 in December, from a revised 72.0 in November.
Copper's widespread applications in everyday products like smart phones, cars and air conditioners make its prices sensitive to changes in economic outlook.
Copper trading volumes remained quiet on the final day of the year, with traders in London enjoying a shortened trading day. The Comex floor will be closed in observance of New Year's Day on Jan. 1.

 
Copper settlements (ranges include electronic and pit trading): 
Jan $3.4415; up 2.10 cents; Range $3.4045-$3.4415 
Mar $3.3965; up 1.40 cents; Range $3.3665-$3.4080 
 

Write to Tatyana Shumsky at tatyana.shumsky@wsj.com