Scrap Metal, Recycling, Global Economic and Commodities Report 1/19/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, January 19th, 2026, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production rose to 1.752MT up 3.1% from last year and up 2.1% year to date on slow U.S. manufacturing and 50% steel tariff protection.

WTI weekly crude oil price rose slightly to $59.44/b., on geopolitical risks with Iran.

U.S. weekly crude oil production fell to 13.753Mb/d., remaining high. This was on great productivity per well and good demand.

The U.S. weekly crude oil rig count rose slightly to 410. This was on high productivity per well and low oil prices.

Scrap steel #1 HMS price composite rose to $358.33/GT as bad weather hurt supply. Also, on steady U.S. demand with good export demand.

Hot-Rolled coil steel price fell slightly to $46.95/cwt., $939/T on slow demand and the 50% steel tariff protection.

Copper price fell slightly to $5.85/lb., remaining near the record high as the U.S. decided not to add new tariffs on copper.

Aluminum price fell slightly to $1.42/lb., $3,141/MT on tight supply and production disruptions.

NFIB small business optimism index rose to 99.5 the highest since August, on reports of positive profits trends, BUT plans for hiring, capital outlays and expected higher sales all declined.

U.S. December inflation rate was steady at 2.7%, as lower oil prices are keeping the index lower. Utilities increased 6.7%, food increased 3.1% and shelter rose 3.2%.

U.S. January NAHB/Wells Fargo housing market index which is builders sentiment. It fell to 37 as current and future expectations fell as builders are being forced to lower prices, despite cost increases.

U.S. December manufacturing production rose 2% vs last year, but down from November’s 2.2% increase. This was on the slow growth economy as manufacturing jobs are down since April. 2026 could be the year of growth.

Atlanta Federal Reserve Q4 GDPNow forecast rose to a huge 5.3%. This was driven by the lower trade deficit. Also, on strong retail and government spending. Note that government spending in great for the economy, but $2 Trillion/year is new debit.

Wall Street’s Dow Jones Industrial Average fell 145 points to 49,359 remaining near the record high. High values are helping support spending. This was also on AI optimism, but a cap on credit card interest rates would hurt banks.