November Metal Market Update
As we wrapped up October, the steel and scrap metal markets showed signs of leveling out. Both steel mills and scrap suppliers agreed that prices have likely hit the bottom for now. Because of this, negotiations for pricing were smooth and finished quickly.
Here’s what’s happening:
- Overseas demand for steel and scrap is still slow.
- Many countries are buying cheaper steel from Russia and China instead of U.S. suppliers.
- There is plenty of scrap available in the U.S.
- The end of the year usually brings slower scrap collection and mills using up current inventory.
Result: Scrap prices stayed the same in November and are expected to stay steady through December — unless outside supply suddenly increases (for example, Canada has a large amount of scrap waiting to sell).
Non-Ferrous Metals (Copper, Aluminum, Nickel)
Overall: Copper, aluminum, and nickel prices are solid right now, but demand for scrap is slowing as the year ends and mills use existing inventory.
Manufacturers here and overseas are buying less because the economy is still sluggish in the U.S., Europe, and China.
Copper
- Copper prices moved only slightly — steady overall.
- Mills aren’t buying much copper scrap right now, pushing more scrap into export markets.
- Brass scrap demand remains steady and prices are holding firm.
Aluminum
- Aluminum prices continue to rise.
- Certain types of aluminum scrap have increased in price.
- Many mills have stocked up and are slowing down scrap purchases for the rest of the year.
- Prices could soften as we move toward year-end.
Nickel / Stainless Steel
- Nickel prices have stayed mostly flat.
- Stainless steel scrap prices dropped due to too much supply and low demand.
- Demand for stainless steel products likely won’t improve before year-end.
Bottom Line
- Scrap steel prices: Holding steady through year-end
- Non-ferrous metals: Prices strong, but buyers slowing down
- Stainless steel: Weak demand and lower pricing
📞 Have questions about pricing or want to schedule a pickup?
We’re here to help. Visit aarecycles.com or call us today.
#ScrapMetalMarket #MarketUpdate #MetalRecycling #AARecycling #RecyclingIndustry
