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Scrap Metal & Commodities Recycling Report - BENLEE Roll Off Trailers January 8, 2018

This is the Scrap Metal, Commodities, Recycling and Economic Report, by BENLEE and Raleigh and Goldsboro Recycling, January 8th, 2018.


Last week, commodity prices and economic reports were mixed.


weekly tonnage of raw steel production

U.S steel production fell as the year ended. Production will now come up with the holidays over, the weaker dollar hurting imports and on good U.S. and global demand.


Crude Oil

Oil fell about $5/barrel to $61.44 on good global demand and good global production. While prices are down a bit, prices remain near multiyear highs.


US Field Production of Crude Oil

U.S. oil production remains near all-time highs, helping multiple parts of the economy and remains great for high paying jobs.


Iron Ore

Iron ore rose $2.00MT to $76.00, as global demand remains solid, especially in the transportation and construction industries.


AMM Weekly Heavy Melt Price

Scrap ferrous prices are steady on this chart as prices rose late in the week about $20-$30/GT, despite people holding material in December. The record cold in parts of the country will keep upward pressure on prices.


Hot Dipped Galvanized Coil

Hot dipped galvanized steel remained steady on this chart, but the week ended with major announcements from multiple steel companies with $40-$50/Ton increases, driven by higher scrap prices and higher demand in various markets.



Copper fell 7 cents to $3.23 on little news. This was a small correction after the big run up in recent weeks. Copper is no change this morning staying at $3.23.


5 Year Copper

The 5 year chart shows copper remains near the recent 4 year high, on good global demand as the global economy stays strong.


5 Year Copper LME

Copper inventories were down slightly remaining near multiyear lows, which will help stabilize prices.



Aluminum fell three cents to 99.2 cents, remaining near a more than 5 year high, as global manufacturing remains strong in many industries.


5 Year Aluminum LME

Aluminum inventories fell slightly remaining near about 8 year lows despite the increases in global production.


China Caixin Index-The Economy

One of China’s main indexes, the Caixin PMI, soared to 53 in December, as service companies recorded their quickest expansion since August 2014. Related, factory growth hit a three month high, so while there is downward growth pressure, China’s economy remains resilient.


US Balance of Trade

This is a bad chart for the U.S. economy. This is our trade balance-imports vs exports. While imports and exports were records in November, the bottom line is the good economy has us importing more than we export so our trade deficit with the rest of the world was the worst in about 6 years. Increased imports of expensive cell phones and oil remain a major drag on our economy.


US Total Vehicle Sales

U.S. vehicle sales picked up in December to an annual rate of 17.85 million. U.S. sales were down about 2% from 2016, making 2017 one of the best years in U.S. history. 2018 should be a very good year as well.


US Non Farm Payrolls

Non-farm payrolls, also known mostly as the jobs report, showed a solid 148,000 new jobs created in December. New jobs created each month have been falling on average since 2015. The tax cut could boost this a bit, but if it goes too high, it will create more inflationary pressures as employers fight to find good people to hire.


US Unemployment Rate

The 148,000 resulted in December’s unemployment rate staying at the 17 year low of 4.1 percent that it had hit in November. Great numbers that have been on a downward trend for years. Teenage unemployment fell to 13.6 percent, with total Whites at 3.7, Blacks 3.8, Asian 2.5 and Hispanics 4.9.


Dow Jones

Wall Street’s Dow Jones leaped up 577 points to a new record 25,296. Tax cuts and the solid global economy are boosting profits, and therefore Wall Street. Some parts of Main Street will benefit with the increase in 401Ks and broker accounts. The ten year chart shows the markets have remained good for almost 9 years.


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