The recycling market underwent a volatile month in April with scrap metal pricing dropping while recovered paper pricing held steady from March levels.
Ferrous scrap tags dropped starkly in April, with most major grades losing approximately $15-$20 per gross ton in all domestic regions. The weakening market was tied to a scarcity of demand from mills and to the growing apprehension concerning the global economy. Events in Boston and Texas have further threatened the already shaky economic atmosphere.
Nonferrous scrap performed poorly, as well, with most major copper scrap grades losing around $0.10 per pound. Aluminum scrap enjoyed a better month but only in relation to its red cousin. Most aluminum scrap grades dropped between $0.01-$0.02 per pound.
Market experts continue to list the usual suspects as the reasons behind the pricing weakness: uncertainty tied to Chinese orders and tepid domestic demand.
The recovered paper market was the star of the recycling show in April simply by avoiding losses. Both OCC (old corrugated containers) and SOP (sorted office paper) kept March’s gains and displayed no change in pricing.
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