The ferrous scrap market softened in September with prices for most grades dropping between $10 and $20 per gross ton. The pricing decreases was largely tied to tepid demand from both domestic and foreign buyers. Domestic mills have exited the market due to low finished product sales. Sentiment regarding October prices is poor with market participants predicting further price drops of $20 to $40.
The nonferrous market has enjoyed a much better month. Copper scrap pricing is up around $0.20 per pound over last month across prime and secondary grades while aluminum scrap has increased around $0.03 for most grades. Increased demand and strong primary metal pricing have bolstered the nonferrous grades. Stainless steel scrap prices also displayed strength over the last month with experts pointing to the strong nickel prices as justification.
The recovered paper markets continue their swoon. Pricing for OCC (old corrugated containers) fell an additional $15 per ton in September. Sorted office paper (SOP) was even more unlucky, losing $20 per ton. Weak demand continues to plague the paper markets as domestic and foreign mills already sit on a substantial amount of recycled material.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.