Hopefully business has been tracking well for you. We have started to see material flow and pricing pick up again. The little bit of slump we saw to start 2021 was very short lived. Commodity pricing has been roaring back and hopefully it will stay on this trajectory longer than the few months it did at the end of last year. Below is an article from Bloomberg News that looks at the rise of the COMEX market, along with other commodities that are traded on the exchange market. The COMEX market which tracks copper and other red metals prices has not hit the levels it is currently at in many years. Analysts believe this surge in pricing is due to a few factors:
1) The new administration pushing for greener energy which will require more demand for these metals.
2) Electric infrastructure surge across the world.
3) Anxiety from mills both domestically and overseas about the availability of scrap and raw material to supply.
All of these factors play a part in the force behind this current market. As much force as there is now there is also rumblings that if there are any setbacks in the COVID recovery or funding for any infrastructure projects that the pricing could come crashing back down. As we all know it’s part of the roller coaster ride we take when dealing in industries with commodity based pricing.
Please let me know if you have any questions regarding this email, pricing, or anything else within the realm of recycling.
Marko Metals, Inc.
323-566-5702
https://www.bloomberg.com/news/articles/2021-02-19/these-metals-are-soaring-on-a-green-frenzy-and-global-recovery
