Copper prices have surged in recent months as China has ramped up consumption and other countries have followed. Supplies that were depleted as producers shut down at the onset of the COVID-19 pandemic are also increasing as economies gradually reopen. As recently as early August, the London Metal Exchange (LME)…
The ScrapyardPro Blog
Steel Markets Show Signs of Strengthening
Steel production may be picking up again after the COVID-19 pandemic sent it reeling. Steel producers and market followers project an increasingly strong recovery as economies reopen. “As economies are reopening without a vaccine or cure in place, significant downside risks exist. If the virus can be contained without second…
Recyclers seek relief from PSR charges
Recyclers are pushing federal regulators for relief from demurrage fees associated with precision scheduled railroading. Lobbyists and representatives from recycling companies want the Surface Transportation Board to require railroads to revisit PSR-related practices that have increased transportation costs for shippers. Seeking to streamline operations, the nation’s largest railroads are giving…
New South Dakota Scrap Laws
South Dakota recyclers now need to keep photocopies of the IDs provided by customers who sell more than $100 of nonferrous scrap metal. Recyclers also must use checks or electronic funds transfers to pay for purchases of nonferrous materials that exceed $100. Both changes were included in House Bill 1082,…
Recyclers Face Labor Shortages
Recyclers increasingly face transportation issues due to an ongoing labor shortage, particularly for drivers. Job openings often exceed the supply of qualified workers in the waste and recycling industry because laborers take jobs in other industries. A driver shortage has become so acute that the Institute of Scrap Recycling Industries…
Quotas Impacting China’s Copper Scrap Imports
China’s new import quotas on copper scrap will further limit export opportunities for US recyclers. Continuing its efforts to protect its environment by keeping foreign rubbish out, China restricted imports of eight additional types of scrap metal, including high-grade copper, as of July 1. Importers must prove that they can…
Kansas Scrap Metal Database Nearer
UPDATED: Kansas scrap yards could have to report purchases to a new state database within a year from now. Recently enacted House Bill No. 2248 requires the Kansas Bureau of Investigation to create a database by July 1, 2020. Kansas scrap metal dealers will have to report to the state…
Progress in U.S.-China Trade War May Help Copper Prices
President Donald Trump’s decision to delay an increase in tariffs on Chinese exports could indicate that the end of a trade dispute that has disrupted the scrap industry may be nearing. A deal could help copper prices, which have struggled as the U.S. and China have exchanged tariffs in a…
Lithium Batteries Pose Fire Risks for Scrapyards and E-waste Recyclers
Lithium batteries are dangerous for recycling centers. Used to power popular accessories such as smartphones and cameras, the batteries are often discarded along with their devices but cannot be recycled in the same manner because they can be combustible. A 3,000-pound ferrous stockpile caught fire at a Tacoma scrapyard when…
Aluminum Prices and Scrap Affected by Market Uncertainties
Tariffs. Trade wars. Consumption shifts. All raise questions about the long-term direction of aluminum prices. At $2,011 per ton, the London Metal Exchange price for aluminum was 10.8 percent less at the end of September than it was at the start of January. It had been as low as $1,966…