Recycling, Scrap Metal, Commodities & Economic Report — March 2, 2026 Presented by BENLEE Roll Off Trailers See Video Version of Report
Steel production continued its upward trend this week, with U.S. raw steel output rising to 1.817 million tons — up 0.9% from last week and 4.3% year to date. The 50% steel tariff protection continues to drive domestic production higher, with a gradual increase in U.S. demand adding further support.
Oil markets moved sharply this week. WTI crude jumped to $72 per barrel following U.S. and Israeli military action targeting Iran, which holds the world’s third-largest proven oil reserves. OPEC’s weekend agreement on a modest production increase could provide some downward pressure on prices going forward. U.S. crude production dipped slightly to 13.702 million barrels per day, while active oil rigs fell to 407 — a reflection of strong per-well productivity. If prices hold at current levels, both production and rig counts are likely to rise.
Scrap steel #1 HMS held steady at $388.33 per gross ton, reflecting a well-balanced supply and demand environment. Prices are expected to see little change through March. Hot-rolled coil steel climbed to $1,003 per metric ton — up a remarkable 48% over the past 14 months — continuing to reflect tariff-driven strength in domestic steel markets.
On the metals front, copper rose to $6.06 per pound despite record-high inventories, driven by record demand. Aluminum climbed to $1.43 per pound — near a three-year high — as supply disruptions across multiple countries continue to tighten the market.
U.S. factory goods orders for December fell 0.7%, pulled down by lower orders for non-defense aircraft and parts. Bright spots included computers, electrical products, and primary metals. Core producer prices rose 3.6% year over year, well above the expected 3.0%, with notable increases in professional and commercial equipment, apparel, footwear, chemicals, and health and beauty products.
December construction spending edged up 0.3% from November, capping a relatively flat 2025 after several strong prior years. Looking ahead, tariff-driven reshoring and the buildout of AI data centers could provide meaningful lift to construction activity in 2026 — and with it, increased demand for scrap metal collection and heavy-duty roll-off equipment.
On the labor front, continuing jobless claims fell to 1.833 million — the lowest in four weeks — reflecting what has become a slow-hire, slow-fire economy. On a positive note, for housing, the 30-year fixed mortgage rate dropped to 5.8%, the lowest level in approximately three and a half years, which should provide meaningful relief for home buyers.
Wall Street had a rough week, with the Dow Jones falling 648 points to close at 48,978, driven by the hotter-than-expected inflation report. Markets continue to sort through AI-driven winners and losers. Longer term, the combination of AI-driven productivity growth and significant deficit spending could set the stage for solid economic expansion in the years ahead
This report is produced by BENLEE Roll Off Trailers to support our customers, suppliers, and partners. BENLEE manufactures roll-off trailers, roll-off trucks, gondola trailers, lugger trucks, and roll-off trailer, truck, and dump truck parts.
About the Author: Greg Brown is President and CEO of BENLEE Roll Off Trailers, America’s leading producer of heavy-duty roll-off trailers and gondola trailers for the scrap metal recycling, waste management, and environmental services industries. He publishes the weekly Recycling, Scrap Metal, Commodities and Economic Report, distributed to 30,000 industry professionals.
