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Scrap Metal & Commodities Recycling Report - BENLEE Roll Off Trailers March 5, 2018

This is the Scrap Metal Commodities Recycling and Economic Report, by BENLEE and Raleigh and Goldsboro Recycling, March 5th, 2018. Last week, commodity prices and economic reports were mixed and new U.S, tariffs were announced.


weekly tonnage of raw steel production

U.S steel production rose and continues slightly ahead of last year and well ahead of two years ago.


Crude Oil

Oil rose about $1.00/barrel to $64.37, remaining near the multiyear high it hit a couple of months ago on good global demand and supply.


US Field Production of Crude Oil

U.S. oil production hit a new all-time high as OPEC continues to keep their production down, causing prices to be somewhat high. High prices allow U.S. oil producers to continue expanding.


Iron Ore

Iron ore rose $1.00 to $80.00, near a high for the year on good global demand, balanced with good global supply.


AMM Weekly Heavy Melt Price

Scrap ferrous prices were steady, and unless there is a change, many believe prices will be up this week as demand remains solid.


Hot Roll Coil Steel

Hot dipped galvanized steel remained at $960/Ton, near its multiyear high on good demand. New tariffs could have this up soon.



Copper fell 10 cents to $3.13 as we move to using May COMEX. While down, copper remains near December’s multiyear high. Copper is down a penny this morning to $3.12.


5 Year Copper

The 5 year chart shows copper slightly off last December’s multi-year high.


5 Year Copper LME

Copper inventories fell slightly on a good balance of supply and demand.



Aluminum was mostly no change to 97.7 cents, remaining near the multiyear high of two months ago on good global demand and supply. New tariffs could change this.


5 Year Aluminum LME

Aluminum LME inventories after their recent rise, remained near about an 8 year low on a good balance of supply and demand.


US Steel Imports

President Trump announced a 25% tariff on imported Steel and 10% on aluminum. This will support U.S. steel and aluminum makers and hurt many countries, with the top 10 for steel in order are Canada, Brazil, South Korea, Mexico, Russia, Turkey, Japan, Taiwan, Germany and India, with China at number 11 at about 2% of imports. If tariffs happen as announced, finished goods prices will rise close to the 25 and 10%. It is not clear what effect this will have on scrap prices, due to as an example some U.S. scrap that went to Canada, could stay here in the U.S., so no next change in demand.


China NBS Manufacturing PMI

China’s manufacturing purchasing Managers index fell to 50.3 in February down 1 point from January, the largest fall in more than 6 years. The growth in output and new orders slowed, but business confidence and raw materials on hand decreased.


US Total Vehicle Sales

U.S. February vehicles sales fell to annualized 17.08M from 17.16M in January. While 17M is a great number, sales have softened in recent months.


U.S. Manufacturing Purchasing Manager’s Index

February’s U.S. Manufacturing Purchasing Managers index jumped to 60.8, the highest growth since March 2004, about 18 years ago amid stronger business conditions and faster job creation, while new orders and production eased a bit. Printing and primary metals grew the most, while apparel and furniture fell. Overall a great performance.


US Initial Jobless Claims

U.S. initial unemployment claims fell to 210,000, the lowest number since 1969, almost 50 years ago. Great economic news.


Dow Jones

Wall Street had another turbulent week with the DOW ending down 772 to 24,538, with markets nervous about the steel and aluminum tariffs.



Safety is key to all we do at BENLEE, with efficiency a close #2. For decades we were known for our Triaxle 80,000 GVW 40’ roll off trailers. Today there is more focus on DOT to stay at 80,000 GVW and hauling optimization to support profitably. That means our tandem axle trailer Bridge Master, yes two axles, is now fast becoming the new standard in 80,000 GVW roll off trailers. It weighs about 6,000 lbs. less than our triaxle, so it carries a much larger payload. Call us from a quote.

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