Will scrap go up or down?

With the current administration's requirement for American steel on various projects, will the re-opening of American steel mills consume our scrap? When China buys our scrap, do they sell it back to us as finished steel or use it themselves? I remember within the last ten years, heavy scrap consumption by China put our scrap prices through the roof; only problem was, finished steel was disappointingly dear.

Yes it will.

Yes it will "what"? Go up or down??

I think steel and other metals will go higher. However, science is also coming out with synthetic materials that are more and more being used where metals have been used in the past, as the newer materials are less expensive, easier to work with, and in many cases are also fully recycleable. Still, more cars, more buildings, more ships and bridges, road signs, and that's not counting all the new manufacturing that I'm very much hoping will start up again here. So while I believe 'yes', I think it will go up more slowly than many expect.

If they start building up the navy then the steel prices should go up along with copper. I searched on line for the prediction on copper prices and found a website. This guy said copper has typically traded above 160 or below, and he thought the prices would trend downward unless they went up, I should have his job.

Despite someone's intentions, it is still a world market. That means if demand is high worldwide, scrap will be high. If it is low, scrap will be low. Scrap was high from 2008- till just a few years ago... not because our demand was high, but worldwide demand was. (a lot of that of course was China).

Prices are starting to rise here in NY.

Just something to add. On the BBC radio feed last night they did a whole one hour show on the world and concrete. In China with it's super building from 2008 - 2011 they built the dam and a huge amou t of citys. Many of those citys stand incomplete and maybe 10% occupied. Here is the kicker. They used more concrete in that short period than the United States has used since 1900 !!!. They were telling how many BILLIONS of tons of concrete that was.

Yes, the Chinese have gone through A LOT of raw materials since the mid 2000's. Concrete, steel, copper for wire and pipe, etc.Not to mention more crude oil, soybeans, corn, dairy products, and more.

Don't know about the steel plants. Think I noticed somewhere that they already decided to not require US steel for the remainder of the Dokata pipeline.

I chuckled when I heard that. That steel pipe for the Dakotas portion has been in storage yards in ND for about 4 years. I saw lots of train loads of LOOOONG pipe going through Aberdeen years ago. Almost all of the Dakota Pipeline is in the ground already. Oil is supposed to start flowing in a week or so. The pipe under the Missouri river is 90 + feet under the river bottom and has a sleeve pipe that the actual oil carrying pipe is inside of so any leak would be into the sleeve pipe and is monitored for pressure changes with auto shutdown. Also any claims of large job growth by politicians amounts to about 100 new jobs when the line is complete.

I was surprised to see 140 a ton for unprepared last week. In years past though this time of year it usually starts to drop and stay low for the summer.

This year who knows.

Yeah, has me a little concerned as well. This is the first year in a long time when I'll be needing some steel. Sadly, our local scrap yard has been mulching up most anything used and only selling new steel. Scrap is getting more and more difficult to come by around here.

Was an auction recently in Buffalo, MN where some scrap was auctioned. This was one pallet:
Pallet Of Misc Steel: 1- 10 Long 6x6" Angle Iron- 3/8" Thick, 1- 11' Long x 6x6 Angle Iron 3/8" Thick, 1- 8 1/2' Long 7" Channel Iron, 1- 74" Long x 10 x 3 I-Beam, 1- 143" Long 5" Channel, 1- 120" Long 5" Channel, 1- 104" Long 7" Channel, 118" Long 3" Round Steel 3/4" Wall, 1- 155" Long 5" I-Beam adn 1- 94" Long 4 1/2" I-Beam. 46 -- It sold for $230.

There was also a pallet of sheet steel siding (or roofing?):
Used Image II 16" Sanding Seam- Burnish Slate Color: 148 Sheets AT 21', 18 Sheets At 18'11"- Misc Valley Sheets. Slight Hail Damage. Trims/Screw And Venting Can Get At Local Lumber Company. 47 -- Sold for $1,301!!

Can see auction results by going to the following link, choosing the Mid-March Consignment Auction and then clicking on View The Items Up For Bid. Can't post a link to the exact page. Steel is on page 2:
http://www.postabid.com

I sold a bit of aluminium yesterday. The yard was busier than I have seen it in a long time. Even for a Saturday. The guy in line ahead of me at the cashiers window got around 225 Canadian for a full sized Oldsmobile. I haven't seen alot of signs of a recovery around here so I think I will clean up the yard while the price is up.

You have to watch out for that ton figure ! Most people a ton is 2,000 lbs. But to a scrapper buying it is called a long ton and heavier. I forget if it is 2500 or 2700 ?