In the previous week, the Canadian scrap metal market experienced notable price changes, particularly in the ferrous scrap sector. The U.S. administration under Donald Trump initially imposed a 25% tariff on Canadian and Mexican goods, but it only delayed its implementation until March 2025. Apart from this, the United States of America has postponed the tariff implementation until March, but this move has left market participants uncertain about future trade dynamics.
Following the recent change that occurred due to the tariffs imposed on Canada, China, and Mexico, ferrous scrap prices have increased by approximately $20 per gross ton. This adjustment reflects the market’s response to evolving trade policies.
Here are the current prices for various scrap metals in Canada:
Copper Prices:
| Metal | Previous Week Price | Current Week Price | Price Change |
|---|---|---|---|
| Bare Bright Copper | $5.50 per pound | $5.70 per pound | +$0.20 per pound |
| No. 1 Copper | $5.35 per pound | $5.52 per pound | +$0.17 per pound |
| No. 2 Copper | $5.10 per pound | $5.28 per pound | +$0.18 per pound |
Aluminum Prices:
| Metal | Previous Week Price | Current Week Price | Price Change |
|---|---|---|---|
| Extrusion | $1.05 per pound | $1.42 per pound | +$0.37 per pound |
| Clean Rims | $1.00 per pound | $1.27 per pound | +$0.27 per pound |
| Cast Aluminum | $0.65 per pound | $0.80 per pound | +$0.15 per pound |
Steel Prices:
| Metal | Previous Week Price | Current Week Price | Price Change |
|---|---|---|---|
| No. 1 Heavy Melt | $0.12 per pound | $0.17 per pound | +$0.05 per pound |
| Auto Cast | $0.30 per pound | $0.35 per pound | +$0.05 per pound |
Stainless Steel Prices:
| Metal | Previous Week Price | Current Week Price | Price Change |
|---|---|---|---|
| 304 Stainless Steel | $0.60 per pound | $0.56 per pound | -$0.04 per pound |
| 316 Stainless Steel | $1.08 per pound | $1.13 per pound | +$0.05 per pound |
Scrap Autos:
On the other hand, the automotive industry’s response to the tariffs may indirectly affect the scrap car market.
For Example, if automotive manufacturers reduce production or alter supply chains, there could be changes in the availability of vehicles for scrapping, potentially influencing scrap car prices.
Stay tuned for more insights on the scrap metal market!
