Global Economic, Commodities, Scrap Metal, and Recycling Report

December 14, 2020

This is the Global Economic, Commodities, Scrap Metal and Recycling Report, by our BENLEE Roll off Trailer and Gondola Trailer, December 14th, 2020.

weekly tonnage of raw steel production

U.S. Weekly crude steel production rose to 1.579M tons, near a 9 month high on slow U.S. & Global growth.

Crude Oil

Crude oil price rose to $46.60/b, near a 9 month high on delayed U.S. stimulus news, but slow increases in demand continues.

Oil Rig Count

The U.S. weekly Oil rig count fell to 258, down 84% from the 2014 high on relatively low prices and on a very slow increase in demand.

US Field Production of Crude Oil

U.S. weekly crude oil production was steady at 11.1M/b/d, on the same relatively low prices and low demand.

Scrap Steel Price

Scrap Steel #1 HMS Export buying price Philly rose to $285/GT on strong export demand and moderate supply.

AMM Weekly Heavy Melt

Scrap steel #1 HMS price settled at about $303.20/GT, about a 20-month high, on the same good export demand and moderate supply. Upward price pressure remains in the market.

Hot Roll Coil Steel

Hot roll coil steel rose to $45.49/cwt, an almost 2.5 year high on good U.S. and global demand and higher scrap and iron ore prices. Also mill outages are causing supply shortages.


Copper price was steady at $3.53/lb. near a 7 year high as markets are optimistic about future economic growth and on strong Chinese demand.


Aluminum price fell to $.91/lb., but near a multiyear high on similar dynamics to copper.

Eurozone Economic Growth

Eurozone economic growth, GDP. The Eurozone is an economy about the size of the U.S. Their economy grew at 12.5% in the 3rd Q, but it is still down 4.3% vs. last year.

U.S. Small Business Optimism Index

November’s U.S. small business optimism index fell to 101.4, but it is still relatively high. It fell on COVID uncertainties and future policy uncertainties.

U.S. Inflation Rate

November’s U.S. inflation rate was steady at 1.2%, well below the 2% Federal Reserve target. New vehicles were up 1.6%, but energy fell 9.4% and apparel fell 5.2%.

U.S. Weekly Initial Unemployment Claims

U.S. weekly initial unemployment claims rose to 853K, plus 428K self-employed people, so 1.28M total, the highest in about 12 weeks. Under 300K is needed for growth. New Lockdowns across the U.S. are causing layoffs.

U.S. Consumer Confidence

December’s U.S. consumer confidence about the economy jumped to 81.4. Current and future expectations improved.

U.S. Consumer Confidence by Political Party

Now the same U.S. consumer confidence, when looking at details by political party. Democrats are dramically more positive since the election and republicans are dramically more negative.

Dow Jones

Wall Street’s Dow Jones Industrial average fell 172 points to 30,046, but near the record high on record daily COVID deaths in the U.S. and the delayed stimulus bill, but outstanding news, the 1st vaccines are going in arms this morning.


Save $140K, Really. Need a new roll off truck? Buy a Super Mini roll off trailer at $63,800 including tarp system and FET. Only 25’ 11”, so when run behind a day cab, it is almost as short as a truck, but is more maneuverable and legally carries more weight.

As always, feel free to call, or email me with any questions and we hope all stay safe in these very difficult next 6 months.


BENLEE Roll off Trailers, Lugger Trucks and Roll off Parts

Roll off Parts, Roll off Truck Parts, Roll off Trailer Parts, Tarp System Parts

Galbreath Hoist Parts