Scrap Monster

Global Economic, Scrap Metal, Commodities and Recycling Report June 17, 2019

This is the Global Economic, Scrap Metal, Commodities and Recycling Report, by BENLEE Roll off Trailers and Open Top Scrap Trailers, June 17th 2019.


weekly tonnage of raw steel production

U.S. steel production fell to 1.8750 Million tons, a multi-month low, on less tariff protection and slowing global demand.


Crude Oil

Oil fell to $52.80/barrel, remaining near a multi month low despite all the shipping problems with Middle East Tankers.


US Field Production of Crude Oil

U.S. oil production fell to 12.3 M barrels per day, near the record. Great for U.S. jobs.


Iron Ore

Iron ore rose to $112.50/Ton, a 5 year high on concerns about Brazilian supply disruptions.


AMM Weekly Heavy Melt

Scrap steel #1 HMS was steady at $235/GT, a Multi-Year low on a slow growth economy. There could be upward price pressure due to high iron ore prices.


Hot Roll Coil Steel

Hot roll coil steel fell to $27.07, a Multiyear low on pressure from imports and slowing demand.




Copper rose to $2.63, near 2-year lows on global slowing across the U.S., Europe and China.



Aluminum fell slightly to 78.6 cents, a multiyear low, on Global slowing, especially automotive.



Cardboard scrap price fell to $35/Ton, a multiyear low on slow global demand.


U.S. Government Budget

The U.S. Government Budget for May had incoming receipts up a strong 7%, but spending was up an outrageous 21%, bringing the one-month deficit to $208B, with $147B spent on Medical/Medicare, $88B Social Security, $65B Defense, $48B Income security, $40B on interest, repeat $40B on interest. Higher deficits brings higher interest rates for all. Higher government interest costs mean less to spend on other things. Lastly, it is easy to have a good economy when the government is borrowing $208B in one month, $640 borrowed and spent for each U.S. Person.


China Industrial Production

China’s May industrial production increased 5% vs last May, the weakest factory output since 2002, amid the escalating trade dispute between Beijing and Washington. Mining output and ferrous metals actually grew faster.


Chinese Vehicle Sales

May’s Chinese Vehicle sales, a market about 50% larger than the U.S., dropped a huge 16.4 percent to a rate of 22.92 Million as tariffs continue to hurt China and hurt U.S. made exports of vehicles to China.


U.S. Inflation

May’s U.S. inflation fell to 1.8% driven by lower Energy prices. Excluding food and energy, core inflation fell to 2.0%.


U.S Retail Sales

May’s U.S. Retail sales rose .5% from April, as Vehicles, building materials, online sales and gasoline sales all rose, while clothing sales fell. Growth was 3.2% vs. last May, down from April’s 3.7% rise.


Consumer Confidence

June’s U.S. Consumer Confidence fell slightly, but remains high. Consumers are concerned about the effect of higher prices and lost jobs due to tariffs, their effect on slowing the economy and reduced the expected gains in employment.


Industrial Production U.S.

May’s U.S. Industrial output rose .4%, as manufacturing output increase for durable goods, wood products, machinery and vehicles. Utilities and mining also rose.


Dow Jones

Wall Street’s Dow Jones was up 106 points to 26,090 on continued soft data out of China, but on good U.S. Industrial output.

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