Scrap Metal, Recycling, Global Economic and Commodities Report 8/3/26

This is the Recycling, Scrap Metal, Commodities and Economic Report, August 3rd, 2026, produced by BENLEE Roll-off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production rose to 1.858MT up 1.5% from last week and up 5.8% YTD on 80.5% capacity utilization and 50% steel tariff protection. Also, on the slow growth economy and strong data center demand.

Crude oil WTI price fell to $84.67/b but went up 20% for the month. This was on renewed and expanded fighting in the Middle East.

U.S. weekly crude oil production fell slightly to 13,796Tb/d on good demand and good prices.

The U.S. weekly crude oil rig count increased slightly to 451 on good demand and good prices.

Scrap Steel #1 HMS price composite was steady at $358.33/GT. There is downward price pressure for August on good supply.

Hot-Roll Coil steel price fell to $59.50/cwt, which is $1,190/T. This was on the 50% steel tariff protection and slow growth in demand.

Copper Price rose to $6.51/lb., near the record high on the no Federal Reserve interest rate increase. Also, on good demand on the global transition to clean energy and AI demand.

Aluminum price rose to $1.45/lb., $3,195/MT on supply restrictions and tightening inventories.

U.S. yield on the 30-year Treasury Note surged to 5.265% the highest since 2007. This was on concerns over long-term inflation and huge Government deficits. Also, on the Federal Reserve Chairman’s controversial comments about fighting inflation.

U.S. June Goods trade deficit improved but to a huge -101.5B from May’s 14 month high. Tariffs are targeted to bring manufacturing back to the U.S. Exports fell 1.8%, while imports fell 2.6% as manufacturing employment in the U.S. is down about 75,000 people in the past 18 months.

U.S. June PCE inflation index improved to 3.7% vs last year on the dramatic June drop in oil and gasoline prices. But July energy prices are up, as are a new round of tariffs.

U.S. Q2 GDP growth rate, which is economic growth. The economy expanded at 1.5%, which was below forecast. Most investments other than data centers fell. Export growth slowed as import growth increased.

U.S. July U of M consumer sentiment survey was revised higher to 55.2, the highest since prewar. Consumers felt good about the 5-year outlook for business. Overall sentiment is still 11% below last year as people are concerned about elevated prices.

Wall Street’s Dow Jones Industrial Average rose 538 points to 52,485. AI and tariff rebates are driving higher profits. Higher energy prices are a windfall for oil companies.