Loading price data
Scrap Monster
Access the Platform
headeregisterpart192,241headeregisterpart2
October 4th 2021

Scrap Metal, Recycling, Global Economic and Commodities Report October 4, 2021


This is the Global Economic, Commodities, Scrap Metal and Recycling Report, by our BENLEE Roll off Trailers and Gondola trailers, October 4, 2021.

weekly tonnage of raw steel production

U.S. Weekly crude steel production rose to 1.88MT, an 85.2% steel mill utilization rate. Importantly, the trend up continues, on good demand.

Crude Oil

WTI Crude oil price rose to $75.98/b, the highest since October 2018. Moreover, this was on tight supplies and good demand. Also, OPEC is having a meeting this week to discuss production.

Oil Rig Count

The U.S. Weekly Oil rig count rose to 428, a slow trend up. Also, a major wall street analyst forecast crude oil will go the way whale oil did, 150 years ago.

AMM Weekly Heavy Melt

Scrap steel #1 HMS price remained steady at $413.33/GT. Importantly, this was on good demand and tight supply, as there is only slight upward price pressure for October.

Hot Roll Coil

Hot Roll Coil Steel Price fell to $97.79/cwt, $1,955.80/T, remaining near the record. Pricing is stabilizing, but supply is still constrained.

Copper

Copper price fell to $4.21/lb. on concerns over Chinese demand.

Aluminum

Aluminum price fell to $1.286/b, $2,834.34/mt, off a 13 year high. Importantly, China announced releasing more reserves, but China has had more power cuts which is hurting aluminum production.

U.S. Natural Gas Price

U.S. natural gas price rose to $5.90/MBTU, a 7.5 year high. Importantly, this was on good global demand and good U.S. exports of gas. Higher gas prices will increase U.S. electrical and heating costs.

China September NBS Manuf. PM Index

China September NBS manufacturing Purchasing manager’s index. It fell to 49.1 with under 50 means contraction. Moreover, output, new orders, employment and exports all declined.

U.S. August Personal Consumption Price Index

U.S. August personal consumption price index, was steady at 3.62% vs. last year, a 30 year high. Importantly, the Federal Reserve increased their inflation forecast in 2022 to 2.3% from 2.1%.

U.S. September ISM Manufacturing Index

U.S. September ISM Manufacturing index, increased to 61.1, one the strongest increases since 1983. Also, this was on solid production increases, but raw material delays remain problematic.

U.S. August Durable Goods Orders

U.S. August durable goods orders, surged 18%, with the 30 year average being .35%. Moreover, this was on increases in non-defense aircraft and parts, capital goods and transportation equipment.

U.S. 2nd Q GDP Economic Growth

U.S. 2nd Q GDP, Economic growth. Importantly, it was revised up to 6.7%, some of the fastest growth in decades. The U.S. Federal reserve cut their 2021 estimate to 5.9%, but raised 2022 to 3.8% and 2023 to 2.5%.

Dow Jones

Wall Street’s Dow Jones industrial average, fell 472 points to 34,798, driven down on interest rate fears. Friday was a great day with a new COVID drug announced and good factory growth data.

Supermini

Considering a new roll off truck to get into tight spots? Can not even find one? Want to save $150K? Buy a BENLEE Super Mini. With a day cab only 12” longer than a truck. Importantly it carries more legally, it more maneuverable than a truck and is mostly the exact same components as BENLEE 7 axle trailers. Call us for a quote.

Metal Test Magnet With Handle 18 lb N52 Grade Neodymium Rare Earth

Metal Test Magnet With Handle 18 lb N52 Grade Neodymium Rare Earth

Industrial Test Magnet 30 lb N52 Grade Neodymium Rare Earth With Handle

Industrial Test Magnet 30 lb N52 Grade Neodymium Rare Earth With Handle

Metal Test Magnet

Metal Test Magnet

Metal Test Magnet

Metal Test Magnet

×