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Scrap Metal Market Update: Volatility Continues as September Approaches​

Check Scrap Prices: https://iScrapApp.com/ - The scrap metal markets have been highly volatile, with prices fluctuating unpredictably in recent weeks. As we head into September, the turbulence in the stock market is putting pressure on metal prices, especially in the steel sector. In this update, we’ll dive into what’s happening across the major scrap categories.

What You'll Learn:
Copper prices have rebounded slightly by $0.10-$0.12 per pound, driven by energy sector demand. Steel prices have dropped for the fourth month in a row, falling another $10-$20 per ton, with oversupply and weak demand as key factors. Carbide prices have risen by $0.15 per pound, though the market remains unpredictable.

Read more: https://iscrapapp.com/blog/weekly-scr...

25:52
 

Wall St ends higher as Fed minutes, jobs data firm rate-cut hopes​

  • Fed's July minutes bolster Sept rate cut hopes
  • Target jumps after lifting FY profit forecast
  • JD.com slides after Walmart sells $3.74 bln stake
  • Labor Dept issues biggest downward benchmark payrolls revision since Great Recession
  • Indexes up: Dow 0.14%, S&P 500 0.42%, Nasdaq 0.57%
NEW YORK, Aug 21 (Reuters) - U.S. stocks advanced on Wednesday amid range-bound trading after investors parsed a steep downward revision in payrolls, and the release of the minutes from the most recent meeting of the Federal Reserve, which cemented expectations for a September rate cut.

All three major U.S. stock indexes closed modestly higher, with chips (.SOX), opens new tab boosting the Nasdaq. The Dow's gains, weighted by financial stocks, (.SPSY), opens new tab were more muted.

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Morning Bid: King dollar's crown is slipping​

August 22, 2024 6:05 AM EDT

A look at the day ahead in U.S. and global markets by Dhara Ranasinghe.

If the pressure on global markets from the tumult at the start of the month has abated, nobody told the dollar.

The U.S. currency remains on the back foot -- trading near its lowest level in more than a year versus the euro and Britain's pound , . The dollar index, reflecting the currency's value against a basket of peers, is down 2.7% so far this month and is set for its biggest monthly drop since November.

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Tanker on Fire and Adrift After Multiple Houthi Attacks

After failing in two previous attempts against Greece’s Delta Tankers, the Houthis struck a tanker operated by Delta early today in the Red Sea. The s...
maritime-executive.com

Crew of oil tanker Sounion abandon ship after Red Sea attack​

DUBAI/ATHENS, Aug 22 (Reuters) - The crew of Greek-flagged oil tanker the Sounion that was attacked in the Red Sea abandoned the vessel and were taken to Djbouti by the EU's Red Sea naval mission "Aspides", an official in the mission told Reuters on Thursday.

Sounion, which can carry up to 1 million barrels, was fully loaded with crude oil, the Apsides official and a maritime security source told Reuters. The vessel was now anchored between Yemen and Eritrea, the security source added.

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Canadian Pacific & Canadian National Railroads Go on Strike | Snarling The Global Supply Chain​

Aug 22, 2024 #supplychain #shipping #canada

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the lockout by Canadian National Railway Co. and Canadian Pacific Kansas City Ltd., against Teamsters Canada and what the halt of 80% of all Canada's railways mean for global shipping.

13:11

- Canada’s Railways Lock Out Unionized Workers, Snarling Trade https://gcaptain.com/canadas-railways...
- Trudeau Calls on Railways, Union to Reach Deal to Avoid Strike https://gcaptain.com/trudeau-calls-on...
- CPKC to issue TCRC lockout notice for Aug. 22 https://www.cpkcr.com/en/media/CPKC-t...
- CN and TCRC Union Bargaining Updates https://www.cn.ca/en/media/cn-and-tcr...
- CN and CPKC Begin Lockout https://teamsters.ca/blog/2024/08/22/...
- Before things go off the rails https://teamsters.ca/blog/2024/08/21/...
- Canada Rail Strike Contingencies https://www.maersk.com/news/articles/...
- Canada’s two largest railways shut down https://splash247.com/canadas-two-lar...
 

Morning Bid: Dollar stuck in a Hole as Powell speaks​


August 23, 2024 6:04 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Jerome Powell takes centre stage at the Federal Reserve's Jackson Hole jamboree on Friday but the Fed chair would have to sound super hawkish to stop the dollar (.DXY), opens new tab recording one of its worst weeks of the year.

Powell's colleagues have already done a fine job tamping down expectations that the Fed's first interest rate cut next month will be as much as 50 basis points - and futures markets are squarely priced for little more than a quarter-point move.

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Fearnleys Week 34

Drewry WCI 22 Aug

World Container Index - 23 Jul

23 Jul 2026: Drewry’s World Container Index (WCI) decreased 4% to $4,374 per 40ft container, due to a decline in rates on Asia–Europe and Transpacific trade routes.
www.drewry.co.uk

CLS Week 34

Commodities - Live Quote Price Trading Data

Trading Economics provides data for several commodities including live bid/ask quotes, last trading prices, forecasts, charts with historical time series and news. This table was last updated on Wednesday, July 15, 2026.
tradingeconomics.com
 

Estes acquires 7 leased terminals from Yellow

Less-than-truckload carrier Estes said Thursday it has closed on seven additional terminals that were being leased by bankrupt Yellow Corp.
www.freightwaves.com

Court allows CBRE to sell Yellow’s remaining properties

Yellow Corp., which is close to submitting a final Chapter 11 plan, can retain real estate broker CBRE to sell its remaining terminals, a Delaware bankruptcy court said Friday.
www.freightwaves.com

Canada’s labor minister puts and end to CN and CPKC work stoppage

The Teamsters Canada Rail Conference is returning to work at Canadian National Railway, but the union said the work stoppage continues at Canadian Pacific Kansas City pending an order from
www.freightwaves.com
 

Pro Farmer Projects Lower Corn, Record Soybean Crop: What Does This Mean for Ending Stocks & Prices?​

Aug 23, 2024

Soybeans and products rebounded on Friday on short covering, weather and additional export sales, while corn ended lower being drug down by new contract lows in wheat. The markets will now have to react to the Pro Farmer crop estimates, which were released after the markets closed.

9:36
 

Wall Street ends sharply higher as Powell cements September rate cut hopes​

  • Fed's Powell says 'time has come' to cut interest rates
  • Small caps, regional banks surge
  • Workday jumps after Q2 revenue beat, $1 bln share buyback plan
  • Indexes up: Dow 1.14%, S&P 500 1.15%, Nasdaq 1.47%
NEW YORK, Aug 23 (Reuters) - U.S. stocks rallied on Friday as dovish remarks from U.S. Federal Reserve Chair Jerome Powell solidified expectations that the central bank will cut its key policy rate in September.

In highly anticipated comments before the Jackson Hole Economic Symposium, Powell said "the time has come" to lower the Fed funds target rate, and "the upside risks of inflation have diminished."

"We do not see or welcome further weakening in labor market conditions," Powell added in a speech that appeared to all but guarantee a rate cut at next month's policy meeting, which would be the first such cut in over four years.

 

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Tanker MV Sounion Boarded by Houthi & Demolition Charges Set on Board in the Red Sea | No Casualties​

Aug 23, 2024 #supplychain #redsea #sounion

In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the Houthi attack on MV Sounion in the Red Sea by the Houthi.

4:27

Original Videohttps://www.mmy.ye/322312/
 

Part 1: Red Flags to Watch for at Scrap Yards: Don’t Get Cheated on Prices!​

Aug 25, 2024

Check Scrap Prices: https://iScrapApp.com/ - In this video, Tom from iScrap App highlights critical red flags to look for when dealing with scrap yards. From sneaky sorting tricks to unreliable scales, some yards may be shortchanging you without realizing it. Learn how to protect yourself and get the best price for your scrap materials by avoiding these common pitfalls.

Key Points Covered
:How some yards use improper sorting to lower your payout.
Why incorrect scales and inaccurate weights could be costing you money.
Tips for verifying tare weights and protecting your profits.
The importance of staying updated with current market prices using the iScrap App.

5:37

Have you experienced these issues at your scrap yard? Share your story in the comments!
Read more: https://iscrapapp.com/blog/top-7-frus...
 
Asian Markets

Morning Bid: US rate cuts loom as BoJ warns of hikes​

Aug 26 (Reuters) - A look at the day ahead in Asian markets by Noel Randewich.

Asia investors will digest the near certainty of a September loosening of U.S. monetary policy on Monday after a speech by U.S. Federal Reserve Chair Jerome Powell on Friday confirmed that the United States is ready to begin cutting interest rates.

At his keynote speech to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming, Powell said "the time has come for policy to adjust," given that upside risks to inflation have diminished and downside risks to employment have increased.

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Morning Bid: Rate-cut hopes meet Mid-East risks​

August 26, 2024 6:02 AM EDT

A look at the day ahead in U.S. and global markets by Dhara Ranasinghe.

Not for the first time, financial markets are reminded why it's never a good idea to get too far ahead.

So, while Federal Reserve chief Jerome Powell's much-awaited Jackson Hole speech on Friday fueled the rate-cut optimism that has aided stocks' recovery from the early-August rout, the latest Middle East news highlights the need for caution.

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Take Five: Nvidia, let's see what you've got​

LONDON, Aug 26 (Reuters) - The latest earnings from AI darling Nvidia and key inflation numbers in the euro area and Australia should keep markets busy in the coming week.

Gold's relentless climb to record highs and a dollar under pressure as U.S. rate cut speculation builds are also in investors' sights.

Here's your guide to the week ahead in financial markets from Rae Wee in Singapore, Sruthi Shankar in Bangalore, Ira Iosebashvili in New York, Yoruk Bahceli in Amsterdam, and Pratima Desai in London.

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Morning Bid: Pre-Nvidia hesitation obscures record high​

August 27, 2024 6:09 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Wall Street stocks (.SPX), opens new tab are back just shy of new record highs, lapping up the likely start of Federal Reserve easing next month but wary of Wednesday's quarterly update from artificial intelligence behemoth Nvidia (NVDA.O), opens new tab.

There were three main reasons cited for this month's early "head fake" for stocks - a return of jobs-related recession worries, a puncturing of the short-yen, short-volatility trade and creeping doubts about AI overspend and its ultimate promise.

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Morning Bid: As Nvidia awaited, Treasuries absorb new deluge​

August 28, 2024 6:07 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

Nvidia's post-bell earnings update on Wednesday is keeping stock markets everywhere in a holding pattern, while U.S. Treasury markets appear to be absorbing the latest torrent of debt sales quite comfortably.

The wait for the world's most dominant artificial intelligence chipmaker's earnings has sucked all the oxygen out of the early part of the week, so large now is the influence of the $3.1 trillion-valued firm on wider stock indexes.

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Red Sea insurance nearly doubles after attacked oil tanker appears to leak oil​

  • Imminent risk of pollution
  • Tanker carrying 1 million barrels still on fire, sources say
  • War risk insurance premiums rise over last two days
LONDON/ADEN, Aug 28 (Reuters) - The cost of insurance for ships sailing through the Red Sea has nearly doubled after Yemen's Houthis attacked a tanker that appears to be leaking oil, with environmental fears growing for trade route, industry sources said on Wednesday.

Iran-aligned Houthi militants first launched aerial drone and missile strikes on the waterway in November in what they say is solidarity with Palestinians in Gaza. In over 70 attacks, they have sunk two vessels, seized another and killed at least three seafarers.

More:

 

Labor Day Scrap Market Update: Copper Prices Rise, Steel Declines, & Catalytic Converter Trends​

Check Scrap Prices: https://iScrapApp.com/ - As we approach the Labor Day weekend, the scrap metal market is experiencing the usual seasonal slowdown, but there are significant trends to watch. This week's update dives deep into the factors impacting scrappers, from rising copper prices to challenges in the steel and catalytic converter markets.

What You'll Learn:
Copper prices are up over 3%, but uncertainty persists due to global challenges.
Aluminum prices show slight increases but remain mostly steady.

Read more: https://iscrapapp.com/blog/weekly-scr...

19:46
 

Stocks fall, Nvidia down 3% after the bell despite strong earnings​

  • Wall Street indexes finish slightly lower
  • Nvidia's results beat analyst estimates
  • Dollar rebounds
  • Gold prices slip
  • Crude oil drops
NEW YORK/LONDON, Aug 28 (Reuters) - Global equity markets eased while the U.S. dollar rebounded on Wednesday, and then chipmaker Nvidia's better-than-expected results failed to impress some investors and the company's stock fell 3% in extended trading.

Wall Street's main indexes finished lower, the Dow Jones Industrial Average (.DJI), opens new tab fell 0.39% to 41,091.42, the S&P 500 (.SPX), opens new tab lost 0.60% to 5,592.18 and the Nasdaq Composite (.IXIC), opens new tab lost 1.12% to 17,556.03.

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Morning Bid: Nvidia 'beats' as expected, but fallout limited​

August 29, 2024 6:10 AM EDT

A look at the day ahead in U.S. and global markets from Mike Dolan

After all that, Nvidia (NVDA.O), opens new tab beat expectations - which has become "expected" - and the stock retreated about 5%. This is still August, after all.

To be fair, the negative market reception to the artificial intelligence pacesetter's quarterly results overnight was typical of the reaction to other ostensible "beats" in the sector in this earnings season. These stocks are expensive, have come a long way in a short space of time and the bar to impress is now sky high.

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Wary of Trump, US minerals projects rush to close government loans​

  • Biden's DOE has awarded nearly $25 billion of conditional loans
  • Sources say some loans won't be finalized before January
  • Domestic projects key to energy transition could be frozen
Aug 29 (Reuters) - U.S. miners and battery recyclers are rushing to close government loans worth billions of dollars before January out of concern that former President Donald Trump would, if reelected, block funding needed to boost American output of critical minerals for the energy transition.

Tumbling prices this year for lithium, nickel and other minerals, as well as lower-than-expected EV sales, have spooked private financiers and put the traditionally conservative mining industry in the unusual position of needing Washington's support to grow and counter what the West sees as China's market manipulations.

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Dow closes at record high, Nvidia falls after forecast​

  • Q2 GDP second estimate shows US economy grows 3%
  • CrowdStrike up after upbeat Q2 revenue
  • Apple gains after Citigroup selects company as top AI pick
  • S&P 500 flat, Nasdaq -0.23%, Dow +0.59%
Aug 29 (Reuters) - The Dow notched a record high close on Thursday in mixed trading following robust U.S. economic data, while artificial intelligence chipmaker Nvidia dropped after its largely in-line forecast failed to impress investors.

The U.S. economy grew faster than initial estimates due to strong consumer spending, the Commerce Department reported, supporting expectations the U.S. is likely to avoid a recession.

More:

 
CLS Week 35

Fearnleys Week 35

Drewry WCI 29 Aug

World Container Index - 23 Jul

23 Jul 2026: Drewry’s World Container Index (WCI) decreased 4% to $4,374 per 40ft container, due to a decline in rates on Asia–Europe and Transpacific trade routes.
www.drewry.co.uk

Commodities - Live Quote Price Trading Data

Trading Economics provides data for several commodities including live bid/ask quotes, last trading prices, forecasts, charts with historical time series and news. This table was last updated on Wednesday, July 15, 2026.
tradingeconomics.com
 

Morning Bid: Record highs abound, except in usual place​

August 30, 2024

A look at the day ahead in U.S. and global markets from Mike Dolan

Record stock market highs have lit up across the world once again - though not yet for the usual suspects in the S&P500 (.SPX), opens new tab and Nasdaq (.IXIC), opens new tab.

Despite a rare stumble for the artificial intelligence theme after Nvidia's results underwhelmed this week, the rest of the stock market complex shrugged it off and has instead lapped up a tasty diet of brisk economic growth along with falling inflation and interest rates.

More:

 

Dow notches record high close after upbeat economic data​

  • Economic data supports expectation of 25 bps cut in September
  • Marvell jumps after forecast beats estimates
  • Ulta Beauty tumbles following annual forecast trim
  • S&P 500 +1.01%, Nasdaq +1.13%, Dow +0.55%
Aug 30 (Reuters) - Wall Street stocks rose and the Dow scored a second consecutive all-time closing high on Friday, with Tesla and Amazon climbing after fresh U.S. economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.

U.S. consumer spending increased solidly in July, suggesting the economy remained strong while prices rose moderately.

"Investors are seeing another sign of being in a soft landing," said Cameron Dawson, chief investment officer at Newedge Wealth. "It's another one of those Goldilocks kind of reports really threading a needle right down the center. The market is really getting exactly what it wanted."

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Part 2: Red Flags to Watch for at Scrap Yards: Avoid Getting Ripped Off​


Sep 1, 2024
Check Scrap Prices: https://iScrapApp.com/ - In this video, Tom from the iScrap App highlights critical red flags to look for when dealing with scrap yards. If your local yard has a monopoly in your area, they might be charging unfair prices—especially in rural regions. The iScrap App helps combat this by showing nearby yards and price comparisons, helping you get the most for your scrap even if it means a longer drive.
Key Red Flags Covered:
Overpriced yards in smaller markets
Yards withholding information on material grades
Scrap yards ignoring safety and legal regulations

4:06
 

Container Carrier Profits Soar On Record Volumes, Higher Rates

By Brendan Murray Sep 1, 2024 (Bloomberg) –The global container shipping industry saw profits surge to more than $10 billion in the second quarter on record volumes and rising freight rates...
gcaptain.com

Merchant Vessel Hit By Two Unknown Projectiles Near Yemen's Saleef, UKMTO Says

Sept 2 (Reuters) – The United Kingdom Maritime Trade Operations (UKMTO) said in an advisory note on Monday that a merchant vessel was hit by two unknown projectiles 70 nautical miles northwest...
gcaptain.com
 

Russian ships seen obscuring names and IMO numbers while transiting the Bosporus - Splash247

Russian-linked ships are getting crews to crudely obscure vessel identities, contravening laws established by the International Maritime Organization (IMO). Yörük Işık, who describes himself on social media as an obsessive ship spotter along the Bosporus, has tracked “dozens” of vessels where...
splash247.com

COSCO strikes mammoth order for 42 bulkers - Splash247

COSCO Shipping’s ordering spree has continued with a massive newbuilding programme in the dry bulk segment. The Chinese state-owned shipping giant has commissioned 42 bulker newbuilds across its affiliated COSCO Shipping Heavy Industry and CSSC Chengxi Shipyard in two separate deals worth more...
splash247.com
 

Norfolk Southern and BNSF reach tentative agreements with additional labor unions

Norfolk Southern and BNSF Railway have reached tentative five-year contract agreements with additional unions four months before the opening round of national collective bargaining.
www.freightwaves.com

California issues draft framework for autonomous heavy trucks

California anticipates new regulations allowing long-haul trucks to operate on roads with speed limits over 50 mph.
www.freightwaves.com

Borderlands Mexico: Carrier says transition to zero emissions critical to better air quality

This week in Borderlands: Carrier says transition to zero emissions critical to better air quality; Texas waterway receives $357M loan to improve shipping channel; Sinoboom plans to build $150M factory
www.freightwaves.com
 
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