Scrap Metal, Recycling, Global Economic and Commodities Report 4/6/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, April 6th, 2026, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production rose to 1.803MT up 1.2% from last week and up 5% year to date. This was on the slow growth U.S. economy and the 50% steel tariff protection.

Crude oil WTI price rose to $111.54/b. the highest in nearly 4 years. Gasoline’s national average price was $4.11/gal. as of yesterday. The U.S. pledged to attack Iranian infrastructure if the Strait is not opened.

U.S. weekly crude oil production was steady at 13.657Mb/d. This was despite higher prices, due cautious producers.

U.S. weekly crude oil rigs rose to 411 as drillers remain cautions despite higher prices. Drillers are concerned prices could drop fast when the war ends.

Scrap steel #1 HMS price composite was steady at $388.33/GT. It is not clear what April prices will be.

Hot-Rolled coil steel price rose to $53.75/cwt. which is $1,075/T. This was on the slight increase in demand and the 50% steel tariff protection

Copper price rose to $5.68/lb. on hopes of a Middle East resolution, but it’s not looking good. Also, copper inventories are near a 6 year high.

Aluminum price rose to $1.57/lb., $3,468/mt. near a 4 year high. This was as the largest Middle East aluminum producer was it by Iranian forces.

U.S. March payrolls, the new jobs report. The economy added 178,000, the most since December 2024. Healthcare rose 76,000, but 35K were the return after a strike. Construction gained 26,000.

U.S. March unemployment rate fell to 4.3%. Total employment fell 64,000 to 162.85M.  The unemployment rate increased to 8% for the measure that also includes discouraged and underemployed workers.

U.S. March average annual hourly earnings increased 3.5% vs last year the lowest increase since May 2021. A low number helps keep inflation down, but is bad for workers.

U.S. March manufacturing purchasing manager’s index rose to 52.3. This was on stronger output and increased new orders. But business confidence dipped on concerns over rising energy costs and tariffs.

U.S. February retail sales, which is a majority of the U.S. economy. Sales jumped .6% from January the best in 7 months. Department stores and healthcare/personal care stores rose the highest as food and beverage and furniture fell.

Wall Street’s Dow Jones Industrial Average rose 1,338 point to 46,505. This was on the good jobs report as earning expectations remained good. But markets remain volatile with the news’ positives and negatives.