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January Scrap Prices Review

Posted 2nd February, 2019

From June last year, the scrap metal prices were on freefall with some of them reaching the lowest they had been at for over 5 years. Entering 2019 movement was always going to be a bit slow but we were confident of a potential climb in January thanks to some constructive talks between the US and China. These discussions at the G20 ended with a temporary suspension to further tariff increases for 90 days starting this month. Let’s have a look at where the markets are at the end of Jan and see if these suspensions have injected any positive movement in the prices.

 

Copper

Copper prices were on a steady downward slope for the first 6 months of 2018 before dropping drastically mid-June and continuing to fall at the end of the year. In contrast to last year, January has seen Copper prices on a steady climb from its opening price of $5838 to its current position at $6008 that’s a gain of 2.9% across the month.

 

Aluminium

The aluminium Market which suffered massively 2018 opened 2019 at $1869 and almost immediately began to fall and bottomed out at $1775 mid-Jan. For the last few weeks, it has been steadily on the climb and is only a few dollars short of where it began at the start of the year at $1852. That’s a drop of -0.9%. The effects of such a low copper market are meaning that scrap yards are holding on to vast amounts of material in hope that the market will show signs of improvement.

 

Lead

The lead market was a similar story in 2018. It had a pretty miserable one and finished the year on almost the lowest point of 2018. It started 2019 on $1974 and neither climbed or fell for the first two weeks before having a real boost over the last couple of weeks taking it up to $2075. That’s an impressive gain of $5.1% across the month.

 

Steel

The steel market like the non-ferrous metals too took a pounding in 2018. The market opened 2019 at $278 per tonne flatlined for a week before showing an impressive upward slope to its current position of $291 that’s a very positive climb of 4.7% across the month.

 

Industry News

Although mostly gains across the market there is still a great deal of uncertainty with prices rising one day than falling the next. With around 5 weeks until the new tariffs being introduced from the US to China which is almost certainly going to see China coming back with their own. The scrap industry watches and waits to see what is going to happen.

It is our opinion that we are going to see a slow but steady market growth over February before falling again as we get to March. This is of course unless there are some more positive agreements reached.

 

Record Users & ScrapsAway Have Gone Premium

With the 1st anniversary of our website a few months away, I’m extremally pleased to inform our users and the scrap yards listed on our site that our monthly users of the site have been on the increase month by month since the site launched last April. December saw just under 3000 marks, but January has reached 3100. Our social media follows have also been climbing with our FaceBook page gaining over 400 likes and our Instagram followers at 500. If you haven’t already followed us then please come find us on FaceBook, Twitter, LinkedIn, and Instagram.

As of two weeks ago, we have released our premium listing feature.  For a small fee which works out at less than £1 per day, you can have access to many features to help your listing look sharp and stand out from the rest. read more details HERE.

 

ScrapChat Podcast

We have just finished recording the 6th episode of our scrap metal podcast ScrapChat. The podcast which is brought to you by Demolition News and ScrapsAway talks about the monthly scrap prices, any news throughout the world of scrap and what is happening at ScrapsAway.co.uk. You can download and subscribe to the podcast from Itunes HERE. 

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