The recycling market was rather mixed in February with ferrous scrap the biggest loser. Nonferrous metals and paper enjoyed relatively stable months by comparison.
Ferrous scrap slid backwards in February across all domestic markets. Most grades slid between $10-$20 per gross ton from their January levels. Market participants point to an abundance of supply as the major influence behind the pricing drops. Supply of prime grades, shredder feed and unprepared were categorized as high but should thin out in the coming months. Expectations for a price bump in March abound, however, with most estimates of increases around the $20/GT mark.
Nonferrous scrap metals enjoyed a better month. Copper scrap tags inched upward slightly, averaging around $0.02-$0.04 per pound depending on the category. Aluminum scrap tags held steady.
Demand for copper alloys have increased recently and as a result more mills are buying scrap material.
The recovered paper market was rather quiet in February. Pricing for OCC (old corrugated containers) and SOP (sorted office paper) remained unchanged from January levels. This marks the third consecutive month of stagnant prices for OCC and the fifth consecutive month for SOP.
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