Cooler temperatures and falling leaves are constant reminders that Fall is upon us. A volatile recycling market is another traditional symbol of autumn. Though September was a relatively stable month by historical standards, the recycling market was rather weak.
Ferrous scrap witnessed decreases in pricing in September. Major grades were down approximately $10 per gross ton across most regions. The price weakness is explained in part by lower demand from domestic mills combined with decreased appetite from foreign markets. Most analysts expect October tags to continue downward and early orders seem to confirm this suspicion.
Tags for copper scrap also slipped in the last month. Nearly every classification of the red metal weakened with major grades losing approximately $0.15 per pound. Low domestic and international demand for copper scrap continues to soften the market. China’s reluctance to buy copper has especially impacted the market.
Aluminum scrap displayed more resilience than the other metals in September with most grades continuing to fetch pricing at August’s levels. Though demand for aluminum scrap is also rather low, supply concerns continue to balance the equation.
The recycled paper market was mixed in September. Pricing for OCC (old corrugated containers) dropped $5 per ton in the Southeast but increased an average of $5 in the Northeast. Pricing held steady in the Midwest and West. Mill demand is the driver behind these regional discrepancies.
SOP pricing fell $10 in the Southeast, dropped $5 in Western markets, and remained unchanged in the Northeast and Midwest.
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.