March 2, 2026
This is the Recycling, Scrap Metal, Commodities and Economic Report, March 2nd, 2026, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.
U.S. weekly raw steel production rose to 1.817MT, up .9% from last week and up 4.3% year to date. This was on the 50% steel tariff protection and a slow increase in U.S. demand.
Crude oil WTI price jumped to $72/b. last night on the U.S. and Israeli attack on Iran that has the 3rd highest proven oil reserves. OPEC agreed on a modest increase in production over the weekend that could help lower prices.
U.S. weekly crude oil production fell slightly to 13.702Mb/d. Production could increase if oil prices remain high.
U.S. weekly crude oil rigs fell to 407 on great productivity per well. If oil prices remain high, rigs will increase.
Scrap steel #1 HMS price composite was steady at $388.33/GT on a good balance of supply and demand. Prices could be little change in March.
Hot-Rolled coil steel rose to $50.15/cwt., $1,003/MT., up 48% in the past 14 months. This was on the 50% steel tariff protection and a small increase in U.S. demand.
Copper price rose to $6.06/lb., on record high inventories, but record demand.
Aluminum price rose to $1.43/lb., $3,145/MT near a three-year high. There remain supply problems from multiple countries that are pushing up prices
U.S. December factory goods orders, fell by .7%. This was driven by lower non-defense aircraft and parts. Computers, electrical products, and primary metals rose.
U.S. core producer prices rose 3.6% over last year vs the expected 3.0%. There was a 14.4% increase in professional and commercial equipment. Apparel, Footwear, Chemicals, Health, and beauty items all increased.
U.S. December construction spending rose .3% from November. After years of good increases, 2025 was fairly flat. Tariffs bringing reshoring and AI data centers could help 2026.
U.S. continuing jobless claims fell to 1.833 million, the lowest in 4 weeks. The slow growth economy has become slow hire and slow fire.
The U.S. 30-year fixed mortgage rate fell to 5.8%, the lowest in about 3.5 years. This will be a major help to home buyers.
Wall Street’s Dow Jones Industrial Average fell to 648 points to 48,978. This was on the hotter than expected inflation report. There have been winners and losers due to AL. Also, we may have solid economic growth in the coming years due to AI and trillions of dollars per year of deficit spending.
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.
As always, feel free to call or email me with any questions, and we hope all have a safe and profitable week.