MAY 2024 – Market Update
Ferrous trade wrapped up at an unprecedented pace in Q1, indicating that the scrap market may have reached its lowest point in most regions. With that said, metal recyclers in North America are expected to face a challenging pricing environment for the rest of this year.
Aluminum and copper prices have increased by twelve and fourteen percent, respectively, while stainless steel prices have remained unchanged due to sluggish demand.
Aluminum scrap prices appeared to stabilize last week following a sharp ascent in the preceding three weeks and the copper market is witnessing renewed volatility, with analysts suggesting prices could reach record highs amid growing demand and diminishing supply.
Is increasing your bottom line a Q2 goal? When you align with All American Recycling you can count on us to get you the best prices for your scrap. We will offer you hassle-free service every step of the way. Reach out today so we can take a fresh look at your recycling program.
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