recycled metals pricing

Non-ferrous recycled metals spreads

Written by Gabriella Vagnini

Metal flows are off and supply is tight. Even though the economy seems to be thriving, spreads are tightening. Mills are paying anything (a bit of an exaggeration), but the willingness for mills to pay asking price just goes to show the tightness that is out there.

Despite Fed Chair Jerome Powell’s cautious stance on rate cuts, expectations remain high, with attention turning to regional Fed presidents’ forthcoming remarks. Rate cuts are anticipated in Q4.

CPI release is Wednesday morning. Predictions are 1% lower from previous month, however the YOY CPI is predicted to increase. Equity’s reaction on Tuesday tells us to watch CPI closely on Wednesday morning.

Copper spreads are off May; however, I have spoken to some that have already started pricing off of July.

(MWUSTP $1.29/lb, LME 3M $2460/mt)
1101 Bare82.5%
5052 Bare88.25%
6061 Turnings63%
6061 Sheet/Plate/Clip70%
10/10 Extrusion76%
6063 Bare Extrusion86.5%
EC Chops87%
EC Wire84%
Irony Extrusion – 95/571%
Old Sheet64%
Car Rims – Clean (Limited)80%
UBC68.5% – 70%
Wheels – Dirty78%
Bare BrightMay less 10.5c
#1 CopperMay less 18.5c
#2 Copper
Shredded roughly 92%
May less 65c
ICW #1
(x recovery + processing 10c)
May less 20c
ICW #2
(x recovery + processing 10c)
May less 35c
Birch/CliffMay less 31.5c
Copper RadsMay less 42c
Copper ChopsMay less 29.5c

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