Quarterly Report – April 2020

It seems like 2020 has come and gone already, or at least that’s what we’re all hoping for! Stay at home and shelter in place have become the new norms worldwide, but we’re helping to make it work. Why? Because the recycling industry is essential; you are essential, we are all essential. From paper and plastics to ferrous and non-ferrous scrap metal.

We all saw pricing decline immediately as a typical knee-jerk reaction. Commodities across the board fell. A roll of toilet paper has more value than a barrel of oil - let that fact sink in. Yet pricing has now bounced up from the bottom and seems to have settled for a short period. I think it’s safe to say we’ll see pricing fluctuate as usual, but be fairly range-bound to what we’ve seen in the last few months.

Unfortunately, we’ll see markets open and close as waves of COVID-19 disrupt pockets of markets for weeks to months. Could this be the new norm until there’s a solid treatment or vaccine? Some suggest winter could bring another round and possibly worse. No-one can say for sure. 

Just like the request for us to support restaurants by buying gift cards so they can remain open in the future, the BIR needs our support. Activities behind the scenes fighting for our industry to be recognized as “essential” have been a priority. They act in a united way for our industry worldwide. The need for your support has never been more important so please make sure you are current with your membership dues.

The future is uncertain, but the necessity of our industries has been solidified. Demand for scrap remains solid in all markets, a true testament to our necessity. Once normalcy is restored, there’s no place to go but up.

I hope to see everyone again soon. My thoughts and prayers go out to you and your families. 

Greg Schnitzer - Greg Schnitzer ()

Greg Schnitzer

President of the BIR Ferrous Division


Quarterly Report – April 2020