The May trading cycle was a little disappointing as mills dropped pricing despite reduced inflows across the Midwest. Export markets seem to be range bound with only slight adjustments. We’re entering into summer maintenance season so don’t be surprised as announcements are made for outages leading to reduced demands – all of which can negatively impact ferrous markets. Best advice in uncertain markets, cash flow is king.

Non-ferrous markets continue to be a rollercoaster. COMEX has spiked over $1.20/lb in the past 90 days but we’ve seen significant deltas between consumers in how they are purchasing red metals. As hedge funds take profits, don’t be surprised to see the markets fall back to the equilibrium of supply and demand. Just this week copper corrected with a .30/lb drop in less than 24 hours. Best advice for nonferrous, keep it moving.

Current Ferrous Pricing:
• Car Bodies with motors – $195/NT
• Car Bodies without motors – $155/NT
• Unprepared Steel – $195/NT
• Clean Steel Wheels – $280/NT
• Clean Auto Cast – $220/NT

Current Non-Ferrous Indications (5/23):
• #1 Copper – $4.31/lb
• Harness Wire – $1.76/lb
• Clean Auto Rads – $2.36/lb
• Clean Alum Rads – $0.58/lb
• Clean Alum Rims – $0.86/lb
• Batteries - $0.16/lb