Scrap Metal, Recycling, Global Economic and Commodities Report 12/1/25

This is the Recycling, Scrap Metal, Commodities and Economic Report, December 1st, 2025, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production rose to 1.761MT up .9% from last week and up 3.3% ytd. This was on slow U.S. demand from U.S. steel mills despite the 50% steel tariff.

WTI crude oil price rose to $59.44/lb. but has been trending down for over 2 years. This was now on oversupply concerns if Ukraine war ends. More Russian oil would lower oil prices, which lowers inflation so it would offset other U.S. inflation.

U.S. weekly crude oil production fell slightly to 13.814Mb/d. but has been trending up for the past 4 years. The U.S. is about 9^th globally in proven oil reserves but remains #1 in production.

The U.S. weekly crude oil rig count fell to 407 but on near record production. Great U.S. technology is adding great U.S. economic value.

Scrap steel #1 HMS price composite was steady at $308.33/GT on a good balance of supply and demand. There is slight if any upward pressure on prices for December.

Hot-Rolled coil steel price rose to $45.20/cwt. to $904T on slow U.S. demand and steady supply.

Copper price rose to $5.28/lb., the highest in 4 months. This was on supply disruptions in Indonesia, Chile and Peru. Also, on the hope of lower interest rates and good global electrification demand.

Aluminum price rose to $1.39/lb., $2,874/MT on hopes of lower interest rates in the U.S. and Chinese government support of property construction.

China’s November NBS manufacturing PMI rose to 49.2, but under 50 is contraction. This was on weak domestic and export demand. Also, as input inflation continues, while selling prices were falling.

U.S. November Conference Board Consumer confidence index fell to 88.7. Republicans and Democrats were both negative as independents were the worst. Consumers were negative about future business conditions and jobs. Under 35 years age was positive, as over 35 years of age were negative.

Chicago November area business barometer fell to 36.3 the 24^th consecutive month of below 50 which is contraction. New orders, production and employment all fell.

U.S. September PPI, Producer prices index for wholesale prices, excluding food, energy and trade services was unchanged at 2.9%. Inflation of raw materials from tariffs is working its way through the system.

U.S. September retail sales slowed to an increase of 4.3% over last year and up .2% for the month, which was below forecast. Overall, an OK number, but some data says this is driven by mostly wealthy consumers.

Wall Street’s Dow Jones Industrial Average rose 1,471 points to 47,716, 1% from the all-time high. This was on hopes of lower interest rates and good consumer spending.