Metal Commodities and Recycling Report
Goldsboro Metal Recycling
We Buy Junk Cars For More Cash
801 N. John St.
This
is the Commodities and Recycling report, brought to you by BENLEE the industry
leader in roll off trailers and open top scrap trailers, as well as Raleigh and
Goldsboro Metal Recycling, the leaders in North Carolina for Scrap Metal,
Cardboard, Electronics and Junk Cars.
Due
to our travel schedule this is a special Friday Commodities report July 17th,
2015 instead of our normal Monday report.
My name is Greg Brown, President and CEO of the companies.
There
was little good news this week in commodities and recycling.
 |
| Steel Production |
 |
| Oil Rig Count |
The oil rig count that had stabilized and was up for two weeks came down a bit
last week. This follows with oil prices
coming down to new multi month lows and means less steel is being used in
drilling.
 |
| Heavy Melt Price |
As for scrap steel prices, as we all know they
came down this month and some say they could come down again in August. With the U.S. dollar strong, scrap metal
continues to come in to the U.S. from other parts of the world. It also means that major importers of scrap
steel like China are buying more from Europe and less from the U.S.
 |
| Copper Prices |
Copper prices which hit new 6+ year lows two weeks ago and then rose a bit,
came steadily down last week.
 |
| Copper Stocks Level |
In another bad sign, copper inventories have
been rising for weeks and are near multi month highs. Bloomberg reported last week that some think
copper could drop another 13% this year.
There is no good news for copper.
 |
| Aluminum |
Aluminum, which also hit new lows two weeks
ago, stayed pretty flat at a level just above those new recent lows.
As
for general news, the U.S. stock market hit new highs last week, and oil hit
new multi month lows. This could help
spending and help create demand, which could mean that the bottom for commodities
could be close.
Permits
for new home building rose to the highest level in June since July 2007 and the
home building sentiment index, hit a new 10 year high, both very positive signs
for good things to come in the economy, but not for recycling, unless China and
Europe start growing at a healthy rate.
Lastly
for those members if ISRI-the scrap recycling organization that have joined the
Circle of Safety, you should review joining it to share and improve your safety
operational issues with others.
For
current prices, please call us at 919-828-5426 in Raleigh, 919-731-5600 in
Goldsboro.
With that we hope all have a Safe and Profitable
week. Tune in next week for the Commodity
and Recycling report.
