Scrap Metal, Recycling, Global Economic and Commodities Report 8/24/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, August 24th, 2026, produced by BENLEE Roll-off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production rose to 1.833MT up .7% from last week and up 5.6% YTD on a capacity utilization of 79.4%. This was on the 50% steel tariff protection, data center demand and slow growth in manufacturing.

Crude oil WTI price rose to $87.06/b on new U.S. economic sanctions on Iran set to be announced today.

U.S. weekly crude oil production rose to 13,830Tb/d as high prices are keeping production high.

The U.S. weekly crude oil rig count fell slightly to 452 as the trend remains up on high prices.

Scrap Steel #1 HMS price composite was steady at $348.33/GT on the 50% steel tariff protection and the slow growth economy.

Hot-Roll Coil steel price fell slightly to $59.25/cwt, which is $1,185/T on the same 50% steel tariff protection and the slow growth economy.

Copper Price fell to $6.58/lb. but remains very high. This was on tight supply as U.S. warehouses fill up. New sanctions on Iran could raise oil prices and hurt the economy.

Aluminum price rose slightly to $1.47/lb., which is $3,249/MT on higher supply from China that is offsetting Middle East blocked aluminum.

U.S. 10 year note bond yield. Note that mortgages and other loans are tied to this. It rose to 4.74% near a 20 month and 20 year high. This was erasing the decline triggered by the Treasury department’s 30-year bond buyback. The Treasury actions are a possible sign of bigger problems with the government’s now $40T of debt.

U.S. July housing starts fell 12.4% from June to 1.239M annualized near a 6-year low. This was on high prices, high interest rates with an uncertain economy.

U.S. August Flash S&P Global manufacturing PMI fell to 53.2 as manufacturing growth slowed, but it did grow. This was on higher fuel prices and raw material shortages while new orders and output growth slowed.

U.S. August Flash S&P Global Composite PMI, which is Manufacturing and Services. It rose to 56 the strongest growth in over 4 years. Services drove the increase and manufacturing grew, but slower, as just discussed. Hiring rose as did business confidence while higher energy prices were a concern.

Wall Street’s Dow Jones Industrial Average fell 455 points to 53,277 as high oil prices remain a drag on the global economy. But there was the highest U.S. business activity in more than 4 years which is terrific.