Our Blog

Ferrous & Non-Ferrous Market Report | July 2014

Ferrous:

Ferrous prices are sideways for most of the country this month with the only exception being a few West Coast export yards and Chicago/Detroit markets where scrap volumes are thinner. South Korean mills returned to the market early last week and raised prices by $5-8 in order to secure 3 bulk barges of scrap metals for the extreme West Coast. This had a minor impact on west coast prices but the possibility for price strength dissipated quickly as the markets move eastward.  Late June speculations had prices going up $5-10 GT across the country but those wishful supplier expectations began to falter this week as most mills got a feeling for scrap tonnages available in the market coupled with stable demand. In addition, July is historically a month that mills have decreased production due to maintenance shutdowns, decreased orders, and widespread vacation schedules further reinforcing the environment of a stable scrap supply satisfying the mill’s production needs.

Non-Ferrous: 

Base Metal prices have been very volatile the past 30 days. Copper, aluminum, and nickel have seen wide pricing swings in June. Copper prices dropped 6% the first half of June but found strength in the final week of month to recover and post a 0.5% gain by month end.  Aluminum followed a similar trend loosing $0.01/lb but gained great strength in the later portion of the month and finished June posting a $0.02 lb price gain. Nickel prices also fluctuated falling 8% in the first 2 weeks but regained much of their lost ground and ended June with a nominal 1.7% loss.


Have a comment or prediction about the market? Share with us in the comments below.

Metro Group | Ogden is located in Ogden | Utahvisit main site>>

Tags: , , , , , , , , , , , , , , ,

This is a unique website which will require a more modern browser to work! Please upgrade today!