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Base metals are in positive territory after a stabilization of China markets. There is hope that the .44 % positive move in the  Shanghai Composite Index in addition to commitments to prop up the yuan will stop the slide in scrap values. There are also reports that iron ore production is being slowed by environmental concerns along with increased price. The very low prices for iron ore have  contributed to the fall in scrap steel values as well. Although this could be considered baby steps they are at least steps in the right direction

The word on the street is for continued softening on top of the drop across the board earlier this week. There is no indications of improvement in the near future especially considering the current unrest in the middle east. China has announced a reduction in new steel manufacturing which on the surface is good but could also indicates further softening in prices. Please keep watching this for additional information.

Best Wishes,

 I hope the holiday break was a good one for you. There finally seems to be a light at the end of the tunnel. It may not be time for additional celebration but the outlook is a bit rosier.  If you have a hand in the decision making process regarding the sale of scrap metal within your company now might be the time to revisit the issue. 

Excel Recycling currently operates three yards which provide coverage to most of southern New England. Whether it’s heavy demolition scrap or high temp alloys from production runs we can provide a solution for handling as well as highest pricing in the industry.

Have a great day and a Happy New Year,

Wayne Edwards

Senior Buyer

Excel Recycling, LLC

The ownership and staff at Excel Recycling would like to wish everyone a Merry Christmas.

Hello Everyone,

The U.S. Steel Corp. has come to an agreement with United Steel Workers pending ratification. This deal announced along with the news that China is rolling back production of new steel in 2016 could point toward rebounding scrap steel markets. Ironing out labor concerns domestically would indicate a positive outlook short term for U.S steel producers who maybe anticipating increased demand both at home and worldwide. As we come into the new year Excel Recycling is looking at this news as pointing to what should be the bottom of the market and a feeling that better pricing is coming in 2016.

Wayne

Hello Everyone,

If you’ve been in the scrap metal business as a buyer or a seller for any length of time you’ve heard that the scrap values follow oil values on a worldwide basis. There is no crystal ball to gaze into but if you look at today’s global oil values which have fallen below $35 per barrel the near future doesn’t look bright. Oil hasn’t seen pricing like this since October of 2002. There is sentiment that we’ve found the bottom of the market and hopefully that’s the case. The non-ferrous side of the business is off as well but not 60 – 70% like steel scrap. As 2016 approaches I believe most if not all the news will be positive.

This is Wayne Edwards the buyer here at Excel Recycling. Please visit this page for updates on market conditions and news from the industry.

Have a great day.

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