Scrap Metal, Recycling, Global Economic and Commodities Report 2/16/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, February 16th, 2026, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production rose to 1.783MT up 4.9% from last week and up 3.7% year to date. This was on the slow growth economy and the 50% steel tariff protection. There was news that the administration might reduce or clarify some metal tariffs.

Crude oil WTI price fell to $62.89/b., on oversupply concerns. Also, on a lower global demand forecast as China drives electric vehicle adoption.

U.S. weekly crude oil production rose to 13.713Mb/d. on good U.S. demand and on good U.S. crude oil exports.

The U.S. weekly crude oil rig count fell to 409 on great productivity per well and on cautious drillers.

Scrap steel #1 HMS price composite rose to $388.33/GT as very bad weather was hurting flows into recyclers.

Hot-Rolled coil steel fell slightly to $48.60/cwt., $972/T up 27% from last year on the 50% steel tariff protection. As said, the administration is talking about reducing or clarifying some metal tariffs, which would lower prices.

Copper price fell to $5.79/lb., but is still very high. This was on good demand, but profit taking. Also, on Chinese demand slowing due to their Lunar New Year holiday.

Aluminum price fell to $1.40/lb., $3,095MT on possible reduced aluminum tariffs coming. Higher prices are inflationary to U.S. manufacturers.

U.S. January existing home sales fell sharply to 3.91M annualized the rate of the 1970s. This was caused by bad weather, but wage gains should help future sales.

U.S. December retail sales increased 2.4% vs last year. Building materials rose as furniture, appliances and clothing fell. Lower and middle class people are stressed as the wealthy are driving retail sales.

U.S. January NFIB small business optimism index fell to 99.3. This was as real estate improved but as labor quality issues increased. Rising insurance issues are increasingly a problem.

U.S. January non-farm payrolls, the new jobs report. The economy added 130,000 jobs, well above forecast and a great number. All of 2025 was adjusted down to a very small 15,000 jobs per month. Leaving out 2020 COVID, 2025 was the worst jobs year since 2010, 15 years ago.

U.S. January inflation fell to 2.4% vs last year, which was very good news. Falling gasoline and fuel oil helped get it down. But electric utilities were up 5.4% and food was up 3.1%.

Wall Street’s Dow Jones Industrial Average fell 612 points to 49,501. This was on concerns of AI adoption could hurt software companies. Also, on the good inflation report, but on concerns over the costs of massive data centers.