October was a relatively quiet month in the recycling market with plenty of the commodities selling at similar price points to those of September.
Ferrous scrap actually outperformed some of the early predictions being expressed in late September as some categories like HMS (heavy melt steel) held steady across all domestic regions. Busheling and several other classifications witnessed slight losses, however, usually around $5 per gross ton.
Market participants expect higher tags in November and are predicting $20-30 increases.
Copper scrap enjoyed a healthy October and most scrap grades sat around $0.10 per pound higher month-on-month. The strength may be short-lived due to increasing pressure on primary copper resulting from an overabundance of supply.
Pricing for aluminum scrap could not replicate the strong performance of the copper market. Though many aluminum scrap classifications were trading at similar levels to September, some grades saw small dips of a penny or two per pound. Market experts point to light purchasing dynamics as the main reason behind the minimal weakness.
The recycled paper market displayed stability in October. Pricing for both OCC (old corrugated containers) and SOP (sorted office paper) remained unchanged from September’s levels across all the domestic regions.
Disclaimer – Prices and market related information shown has been obtained by many sources across many commodity markets. InStream has not verified the information beyond our sources. Information is based on assumptions and projections based on current market drivers. This information is provided as a service and InStream is not recommending action based on the market information provided and is not responsible for the direction of markets and/or results based on the data provided.