Recycling, Scrap Metal, Commodities and Economic Report

This is the Recycling, Scrap Metal, Commodities and Economic Report, March 23rd, 2026, produced by BENLEE Roll off trailers to support our customers, suppliers, and partners.

U.S. weekly raw steel production fell to 1.774MT down .9% from last week and up 4.9% YTD. The economy is being hurt by high energy prices.

Crude oil WTI price fell to $98.20/b., remaining high. Year to date home heating oil has doubled. Major oil and gas production sites have been destroyed in the Middle East. Markets are not expecting a near term resolution to the conflict.

U.S. weekly crude oil production fell slightly 13.668Mb/d. If prices remain high, higher production will follow.

U.S. weekly crude oil rigs rose to 414. If prices remain high increased rigs will follow.

Scrap steel #1 HMS price composite was steady at $388.33/GT as better weather is helping supply. Also, global economic uncertainty is hurting export demand.

Hot-Rolled coil steel price rose to $53.20/cwt., $1,064/T on steady demand, but the 50% steel tariff protection.

Copper price fell to $5.30/lb., which is high, but the lowest in three months. High energy prices will hurt manufacturing demand. New higher U.S. inflation data hurts the ability to lower interest rates.

Aluminum price fell to $1.45/lb., $3,195/MT. The #1 consumer China has their demand down this year vs last year. Also, major aluminum production is shut down in Bahrain and Qatar.

U.S. Federal Funds rate stayed at 3.5%-3.75%. The Federal Reserve said the economy is expanding, but they are concerned about low job gains. They revised their GDP estimates to 2.4% from 2.3% in 2026 and 2.3% in 2027, not the 4%+ the Administration is talking about.

U.S. 10 Year Note Bond Yield. The 30 year mortgage tracks to this rate. It closed at 4.387%, the highest since July 2025. This was caused by investors that are concerned that inflation from the war will keep interest rates high.

U.S. January new home sales decreased to 587,000 annualized. This was on bad weather, high interest rates and high home prices.

U.S. February Core producer prices which are wholesale prices. Core price excludes food and energy. It rose 3.9% vs last year the sharpest increase in 3 years. Tariffs will hopefully be a one time price increase. Many tariffs started last April, so inflation could lower in April 2026.

U.S. January new orders for manufactured goods rose .1% from December. This was led by non-durable goods such as computers. Excluding transportation equipment, orders were up .4% the third monthly increase.

Wall Street’s Dow Jones Industrial Average fell 1,048 point to 45,577 a 4 month low. The S&P hit a 6 month low. This was on escalating destructive actions by the U.S. and Iran. Also, on the Federal Reserve kept intertest rates high this week.

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.