Scrap Metal, Recycling, Global Economic and Commodities Report 7/20/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, July 20th, 2026, produced by BENLEE Roll-off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production fell to 1.84MT down .9% from last week, but up 5.9% YTD with 79.7% capacity utilization. This was on the 50% steel tariff protection and steady demand.

Crude oil WTI price rose to $82.49/b. with increased Iranian attacks on multiple countries and American deaths. The U.S. reinstated the blockade on Iranian ports and attacked Iran’s bridges.

U.S. weekly crude oil production rose slightly to 13,861Tb/d. a new record high on higher prices and good demand.

The U.S. weekly crude oil rig count rose to 452 a more than one year high on the same good demand and high prices.

Scrap Steel #1 HMS price composite fell slightly to $358.33/GT on a good balance of supply and demand.

Hot-Roll Coil steel price rose slightly to $59.40/cwt. which is $1,188/T, a 34% increase in the past 12 months. This was on the 50% steel tariff protection and steel mills keeping tight supplies to increase profit margins.

Copper Price fell slightly to $6.27/lb. as the Middle East conflict continues. There were also concerns over higher interest rates and lower copper production.

Aluminum price rose slightly to $1.44/lb., which is $3,165/MT. This was on threats to the Middle East supply, which is 9% of global output. It was also on lower aluminum inventories and a forecast of a supply shortage.

U.S. July NAHB Well Fargo Housing Market index which is builders’ confidence fell to 34. Current conditions and 6 months out expectations fell. Home price cuts and sales incentives increased.

U.S. June retail sales rose a good 6.7% from last year, but only .2% from May. Increased gasoline prices drove the increase. Motor vehicles and Nonstore retail increased as well.

U.S. June industrial production increased 1.1% vs last year. Mining gained 2.4% as manufacturing increased 1.1%. AI data centers are driving demand for steel and electrical goods.

U.S. July U of M consumer sentiment index rose to 54.4. It increased mostly among non-bachelor’s degree people. People feel better about easing gasoline prices and they feel better about buying durable goods.

U.S. June annual inflation rate fell to 3.5% the first decline in 5 months, but still higher than the 2% target. Shelter as in housing was up 3.3% and food was up 3%. Energy costs increased only 15.7% but were down 5.7% from May.

Wall Street’s Dow Jones Industrial Average fell 491 points to 52,146 but remained fairly high. Consumers are still spending, but they are borrowing to keep up. Borrowing on stocks has gone up 54% in the past 12 months, which is risky for the economy.