Scrap Metal, Recycling, Global Economic and Commodities Report 8/10/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, August 17th, 2026, produced by BENLEE Roll-off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production fell to 1.82MT down 2.7% from last week, but up 5.7% YTD on 78.8% capacity utilization. This was on the 50% steel tariff protection and the slow growth economy.

Crude oil WTI price rose to $82.48/b. on limited movement to resolve the Iran issue. Also, on concerns over the continued draw down of global oil reserves.

U.S. weekly crude oil production rose slightly to 13,895Tb/d. remaining high on good demand and high prices

The U.S. weekly crude oil rig count rose to 455 on good demand. Also, there was a rise in U.S. oil imports and lower U.S. oil exports.

Scrap Steel #1 HMS price composite fell to $348.33/GT. This was on the same 50% steel tariff protection and slow growth in demand.

Hot-Roll Coil steel price rose to $61.00/cwt. which is $1,220/T on the same 50% steel tariff protection again  and the slow growth in demand. Also, on keeping supplies tight, which allows for increased prices.

Copper Price rose to $6.61/lb. on tight suppliers and massive copper imports into the U.S. These imports are due to the concern over possible coming U.S. copper tariffs.

Aluminum price fell to $1.47/lb., $3,248/MT. This was on increased Gulf area aluminum production and the bailout of Australia’s largest smelter.

U.S. government July budget ran a deficit of $432B, which was much worse than $291B a year ago. Interest on the government debt was $104B, Medicare $174B, SS $141B and Defense was $91B. Incoming money fell to $334B from $338B last year.

U.S. July Retail sales increased 5% vs last year, but while not shown sales were down .6% from last month. Crazy, but July vs June was partly due to Amazon Prime day in June vs July last year. Nonstore retailers, motor vehicle and gasoline sales were down.

U.S. August U of M consumer sentiment index fell to 51. Feelings about current and future conditions fell. Expectations for business conditions worsened significantly.

U.S. July consumer inflation slowed to 3.4%. Gasoline was up 24.6% vs 26.7% in June. Food remained at 3% as shelter eased to 3.2% from 3.3%.

U.S. July NFIB small business optimism index jumped to 99.8 the highest since last August. Hiring plans increased as labor quality was a concern.

Wall Street’s Dow Jones Industrial Average fell 305 points to 53,732 on weaker sales, lower inflation and AI slowing concerns. Also, on the 10-year Treasure note interest rate closed near a 20 year high.