Recycling, Scrap Metal, Commodities and Economic Report

This is the Recycling, Scrap Metal, Commodities and Economic Report, June 22nd, 2026, produced by BENLEE Roll-off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production fell to 1.854MT down 1.2% from last week, but up 6.3% YTD on a 80.3% capacity utilization rate. This was on the 50% steel tariff protection and AI data center growth.

Crude oil WTI price fell to $77.33/b. which is great for bringing down inflation. This was on the Middle East deal allowing oil to flow again.  Also, there was an International Energy Agency, IEA report, that there will be an oversupply of oil in 2027 which would lower oil prices further.

U.S. weekly crude oil production rose slightly 13.81Mb/d. Lower oil prices will bring downward pressure on production.

The U.S. weekly crude oil rig count was steady at 433. Lower prices could reduce the rig count.

Scrap Steel #1 HMS Price Composite was steady at $365/GT on slow growth of U.S. and global demand.

Hot-Roll Coil steel price fell to $59.75/cwt., which is $1,195/T, but it is up 32% in the past 12 months. This was on the 50% steel tariff protection that allows U.S. steel companies to raise prices.

Copper Price fell to $6.34/lb. but remained high. This was as the Federal Reserve signaled possible higher interest rates. Higher interest rates will slow the economy, which slows inflation.

Aluminum price fell to $1.54/lb. which is $3,401/MT. near a two month low. The opening of the Strait of Hormuz freed up 9% of global aluminum supply, but there are concerns over China’s slowing demand.

U.S. Federal Funds rate remained at 3.50% to 3.75%. The new Federal Reserve Chairman said he is committed to price stability as in low inflation. If the major oil drop does not curb inflation, higher interest rates will.

U.S. May import prices increased 6.7% vs last year, the highest in 3 years. Importantly, note that this excludes tariffs of 10-50%. This was mostly driven by imported energy. Also, note that May vs April increased a huge 1.9%.

U.S. May housing starts fell 15.4% vs April to 1.177M annualized the lowest level in about 6 years. High interest rates are curbing builder activity.

U.S. May industrial production rose 1.7% vs last May as the past 100+ year average was 3.45%. This was on continued slow industrial growth.

U.S. May retail sales which are a major part of the economy. They increased 6.9% vs last year, the biggest rise in about 3.5 years. This is great news, but was driven by a 26.5% increase in gasoline sales. Retail stores and autos also rose as food service and drinking places fell.

Wall Street’s Dow Jones Industrial Average rose 363 points to 51,565 down from the record high during the week. People are positive about the Middle East deal, but that was tempered by the Federal Reserve possible higher interest rates.

This report is brought to you by BENLEE roll-off trailers, Roll off trucks, gondola trailers, lugger trucks, roll off truck parts  and dump truck and trailer parts. This is Greg Brown reporting.

As always, feel free to call or email me with any questions, and we hope all have a safe and profitable week.