Federal Reserve Rate Hike Decision: Impact on Copper and Metal Prices- 4/28/23



The Sahd Metal Crew gives an update on copper and how another FED rate hike could impact metal prices!! #copper #hike #team #work #price #pricing #dollar #ratehike #rate #scrap #metal #scrapyard #manufacturing #processing #fyp #foryou #fed #jerome #update

♬ original sound – sahdmetalcrew

Copper Prices are still down as we wait for news from Jerome Powell and the FED next week!

Copper is still sitting in this $3.80 cent range, which is unusual considering most of this year and last year we have seen it in the $4 and above range.

One big factor in the short term that could really affect copper and other metal prices is the upcoming Federal Reserve rate hike decision.

If we see a rate hike above the excepted .25 number then this will most likely be bad news for metals. And if we see .25 or below this could be a positive sign for metals.

Sometimes the truth comes out when you don’t really know who you’re talking to, as jerome powell found out as he got pranked by two Russian interviewers. 

He thought he was speaking to President Zelensky and at the time he told them there are definitely two rate hikes coming, the second of which would be coming next Wednesday, and then he said after this we will wait to evaluate the impact on the economy. 

That news would mean that this would be the last of the rate hikes, but the next question would be how long are we going to be staying at this elevated level.

Our team will be shutting down Wednesday at 2:30 to listen to his press conference to get an indication of any hint of how long the rates will stay this high. 

The market is expecting him to do rate cuts at the end of this year but with this economy that seems a little hard to believe right now.

Enjoy your weekend and get pumped up for fed week next week. We will be watching because Metals will move on this news!


Acceptable Materials

Appliances including:
  • Stoves
  • Microwaves
  • Washers and Dryers
  • Dishwashers
  • FOR A $10 FEE—Air Conditioners

End of Life Items Including:
  • Machinery (all fluids,pans and cylinders removed)
  • Farm Equipment
  • Farm Machinery
  • Lawnmowers
  • Cast Iron Patio Furniture
  • Cast Iron Outdoor Railing
  • Sheet Metal
  • Steel Wheels
  • Steel

Nonferrous Scrap:
  • Aluminum
  • Aluminum Cans
  • Aluminum Pots and Pans
  • Aluminum Siding/Gutters/Downspouts
  • Aluminum Patio Furniture
  • Aluminum Wheels
  • Aluminum Wire
  • Auto Batteries
  • Brass Fixtures/Lamps Decorative items
  • Cable, Fence and Wire
  • Christmas Lights
  • Copper
  • Copper and Brass Plumbing Pipes
  • Copper and Brass Plumbing Valves and Connectors
  • Copper Tubing
  • Copper Wire
  • Electric Motors
  • Insulated Wire
  • Radiators
  • Screen Doors/Windows (glass removed)
  • Stainless Steel

Prohibited Materials

  • Acetylene Cylinders
  • Asbestos or Asbestos Containing Materials (ACM)- applies to both fibrous and solid materials
  • Any Scrap Containing Refrigerants (CFC or HCFC) (Freezers, Refrigerators)  Air Conditioners are accepted for a $10 fee
  • Cathode Ray Tubes (CRT/tube-style computer monitors or televisions)
  • Closed Compressed Gas Cylinders – high pressure cylinders with valve intact
  • Combustible or Flammable Materials – fuels, paints, degreasers, unpunctured aerosol cans
  • Corrosive Materials – highly acidic or caustic materials (battery acid, caustic soda, etc.)
  • Explosive Materials, Munitions, Shell Casings – includes suspect military scrap
  • Free Flowing Liquids (including water)
  • Hazardous Waste – toxic or poisonous materials or wastes
  • Infectious Materials – blood-soaked or biohazard items
  • Liquids or Scrap Containing Free Flowing Liquids – fuels, antifreeze, oils, hydraulic fluid, paints
  • Mercury Containing Materials – mercury-containing thermostats, switches or fluorescent light bulbs
  • Non-Metallic Items – concrete, wood, asphalt, dirt, debris, tires (more than 5 per auto)
  • PCB-Containing Materials
  • Whole tanks uncut
  • Radioactive Scrap – anything exhibiting radiation levels above background
  • Scrap with Small Capacitors that contain 50 ppm of PCBs