August 25, 2025
This is the Recycling, Scrap Metal, Commodities and Economic Report, August 25th, 2025.
U.S. weekly raw steel production rose to 1.774MT up 2.8% from last year and up 1.3% YTD. This was on the 50% steel tariff protection and the slowing U.S. economy.
WTI crude oil price rose slightly to $63.77/b., on Russian attacks on a Ukrainian refinery. Also, on weak German economic data, but with lower interest rates coming.
U.S. weekly crude oil production rose slightly to 13.382Mb/d., remaining near Decembers high. U.S. producers remain cautious as OPEC+ increases production. Higher production brings lower prices and lower profits for oil companies.
The U.S. weekly crude oil rig count fell to 411 on great productivity per well and cautious producers.
Scrap steel #1 HMS price composite was steady at $311.67/GT on slow U.S. and global demand.
Hot-Rolled coil steel price rose slightly to $41.50/cwt., $830/T, but trending down. This was on a slight increase in U.S. manufacturing and a good supply.
Copper price fell to $4.46.lb., near a 4 month low on a slowing global economy.
Aluminum price rose slightly to $1.19/lb. $2,623/MT, remaining somewhat low on slow Chinese demand.
U.S. Federal Reserve Speech. The Chair announced interest rates could come down soon. The economy is slowing and increased inflation is a one time tariff issue. Lower interest rates should bring increased economic activity.
U.S. 10-year Treasury note, which is a key mortgage rate indicator. It fell to 4.26% on the announcement of possible a lower federal reserve rate. Note that despite announcing government spending cuts and new tariff income, there is near record government deficits, which brings near record borrowing, which causes higher interest rates.
U.S. August U of M Consumer sentiment survey dropped to 58.6 which was below market expectations. This was on growing inflation concerns as the current conditions index fell.
U.S. July home building permits fell 2.8% to 1.354M annualized the rate from the 1960s, 60 years ago. High home price and high interest rates remain problematic.
S&P Global U.S. August Manufacturing purchasing managers index rose to 53.3 the highest since May 2022. Factory employment and inventories grew as new orders rose, But new tariffs announced last week will raise input costs.
Wall Street’s Dow Jones Industrial Average rose 688 points to 45,632 a new record high as the Federal reserve announced possible interest rate cuts that we just mentioned due to the slowing economy. Also on that the increase inflation is a one time tariff issue, but is getting dragged out. It was announced that there could be furniture tariffs in 2 months.
This is Greg Brown. As always, feel free to call or email me with any questions, and we hope all have a safe and profitable week.