November 3, 2025
This is the Recycling, Scrap Metal, Commodities and Economic Report, November 3rd, 2025, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.
U.S. weekly raw steel production rose to 1.747MT up .2% from last week and up 2.8% year to date on slow U.S. manufacturing.
WTI crude oil price fell to $60.50/lb. This was as OPEC plus was about to announce increased production which it did on Sunday. Also, there are no major concerns yet about the reality of Russian oil sanctions.
U.S. weekly crude oil production rose to 13.644Mb/d, a new record high. While the average U.S., cost of oil is about $61/b. Exxon accounted new projects are double digit profitable at $35/b. which is great for the economy.
The U.S. weekly crude oil rig count fell to 414, but on record production. This was on great drilling technology, which is great for the U.S. ability to export oil. The U.S. remains producing 51% more oil than Saudia Arabia
Scrap steel #1 HMS price composite was steady at $308.33/GT on a good balance of supply and demand.
Hot-Rolled coil steel price rose slightly to $40.65/cwt. $813/T on steady demand and 50% steel tariff protection.
Copper price fell slightly to $5.11/lb., remaining high. This was on lower Chinese factory activity but supply concerns still remain, with as an Indonesia mine had a fatal mudslide.
Aluminum price rose slightly to $1.31/lb., $2,892/MT as supply concerns remain, but with good demand.
China’s October NBS manufacturing PMI, purchasing managers’ index fell to 49 with under 50 being contraction. New orders, foreign sales, employment and buying levels all fell.
U.S., effective federal funds rate fell to 3.87%. The belief remains that tariffs are a onetime price increase. This means inflation is still rising but it is forecasted to fall next year.
U.S. September pending home sales fell .9% from last September on high home prices and high interest rates.
Atlanta Q3 Federal Reserve GDP NOW forecast was steady at a strong 3.9% with the economic forecasters average a good 2.5%. AI data centers are powering parts of the economy.
Wall Street’s Dow Jones Industrial Average rose 356 points 47,563. This was on interest rate cuts and mixed earning reports.
This report is brought to you by BENLEE Roll-off trailers, Roll off trucks, Gondola Trailers, Lugger Trucks, Roll-off trailer parts, Roll-off truck parts and dump truck and trailer parts. This is Greg Brown reporting from Patagonia Argentina.
As always, feel free to call or email me with any questions, and we hope all have a safe and profitable week.