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Bruce’s Metal Market Commentary – August 2019 - Logo
Bruce's Commentaries / 08.26

Bruce’s Metal Market Commentary – August 2019

I am focusing on the trade war because of the topic’s importance to manufacturing.
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Bruce's Commentaries / 07.26

Bruce’s Metal Market Commentary – July 2019

I might have to change the name of the Metals Commentary to the Trade Wars Commentary. In June, 600 large corporations, including Walmart, Costco, Target and Gap, and numerous trade associations sent a letter to President Trump requesting the removal of US tariffs on Chinese-produced goods. The group prepared an analysis that showed the trade wars are hurting the economy and would reduce the GDP, lead to a loss of more than 2 million jobs and cost the average American family $2,300 per year. 
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Bruce's Commentaries / 06.26

Bruce’s Metal Market Commentary – June 2019

There is a considerable amount of negative economic news out there right now. It is not negative at the same level as the Great Recession, just a softer tone to manufacturing and business. I concentrate on the indicators that most affect manufacturing. 
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Bruce's Commentaries / 05.29

Bruce’s Metal Market Commentary – May 2019

Political turmoil and tariff chaos continue to make headlines and cause uncertainty.
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Bruce's Commentaries / 04.15

Bruce’s Metal Market Commentary – April 2019

My brother is 4 years older than I am. When we were little and had a fight, I would say, “I don’t like you, but I love you.” I feel the same way about the economy as it continues to chug along since the Great Recession. New orders of nondefense capital goods, excluding aircraft, had their biggest gain since last July and the total industry capacity utilization rate is the highest in 2 years. The ISM is back up after 2 down months. Consumer confidence as measured by the University of Michigan rose 4 points last month. Job growth is good and inflation is in check. However, autos, housing and capital equipment are a bit slower.
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Bruce's Commentaries / 03.13

Bruce’s Metal Market Commentary – March 2019

There is an old Chinese proverb that states, “You should live in interesting times.” Actually, it is often said as a curse. Right now, we are certainly living in interesting times. Headline news includes a record $890 billion trade deficit for 2018, which is a 10-year record. The budget deficit is estimated at $1 trillion, and the GDP, which was close to 2.9% growth last year, is forecast to be about 1.5% for this year. Global GDP is still forecast at a very decent 3.0% to 3.5% growth rate, but it is trending down.
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Bruce's Commentaries / 02.15

Bruce’s Metal Market Commentary – February 2019

The old adage in elections and politics is: “It’s the economy, stupid.” Today the adage is: “Look at the economy and don’t listen to politics.” Granted, it is hard not to listen to the tweets and barrage of talk these days, but this is a metal commentary.
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Bruce's Commentaries / 01.17

Bruce’s Metal Market Commentary – January 2019

Even though I know forecasting the future is absurd, it still enables our company to come up with our business and metal assumptions. Our team then develops a strategy and a budget for the year, which is the true benefit of analyzing the forecasts. 
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Bruce's Commentaries / 12.12

Bruce’s Metal Market Commentary – December 2018

The US, Canada and Mexico signed trade agreements although there are still many issues to be resolved. Leaders of the G20 met, and the US and China might have agreed to lessening some tariffs implemented during their trade war. President Trump gave the Chinese government 90 days to act or he would announce more tariffs. We all have a vested interest in ending the trade war.
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Bruce's Commentaries / 10.12

Bruce’s Metal Market Commentary – October 2018

There is still a lot of good economic news, and yet a lot of uncertainty. The economy is strong, with unemployment at its lowest in 50 years and consumer confidence very strong.
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Bruce's Commentaries / 09.12

Bruce’s Metal Market Commentary – September 2018

Economic news continues to be generally positive, with only housing and auto sales showing weakness. Auto sales dipped to 16.7 million in August, the lowest since August 2017, signaling that the expected second-half of the year slowdown is underway.
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Bruce's Commentaries / 08.10

Bruce’s Metal Market Commentary – August 2018

GDP for Q2 grew 4.1%, which is the best pace in nearly four years. Some of the increase was due to higher soybean exports to China to avoid the new Chinese soybean tariffs. Consumer spending was also the strongest in over three years. Most manufacturing indicators continue to be strong, although cars and housing are down slightly. The PMI also dropped to 58.2 from 60.2, but it is still a strong, positive number.
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Bruce's Commentaries / 07.12

Bruce’s Metal Market Commentary – July 2018

We know that the economy continues to be strong, as most of the key indicators I report on are good. There are only a few weak spots in manufacturing. What we don’t know is what effect the current Section 232 tariffs and other tariff policies will have in the second half of the year and beyond.
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Bruce's Commentaries / 06.11

Bruce’s Metal Market Commentary – June 2018

Talk of Section 232 continues to dominate the metals industry. Much has changed, but the strategy is still very unclear. Yes, we do have some legitimate trade issues that need to be changed, but very little strategy is apparent in the Section 232 negotiations.
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Bruce's Commentaries / 05.08

Bruce’s Metal Market Commentary – May 2018

Business decisions are based on strategy, planning, and an understanding that disruptions and uncertainty will occur and we will need to react to and adapt to them. A number of factors that have occurred in the last 30 days have brought such disruption and uncertainty.
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Bruce's Commentaries / 04.05

Bruce’s Metal Market Commentary – April 2018

Tariffs, tariffs, tariffs. We will be talking about them for a while. In March, President Trump announced Section 232 tariffs on steel and aluminum and made statements that no country would be exempt. In the following weeks, most of our allies received temporary exemptions.
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Bruce's Commentaries / 03.08

Bruce’s Metal Market Commentary – March 2018

President Trump has announced his intent to impose Section 232 tariffs: a sweeping 25% tariff on all imported steel and a 10% tariff on all prime and wrought aluminum imported from any country. Here are the pertinent facts as I see them: We import most of our steel from Canada, South Korea, and the EU, and 2% comes from China. Remember that 90% of our aluminum comes from Canada. The US cannot produce enough aluminum at any time to compete with that.
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Bruce's Commentaries / 02.07

Bruce’s Metal Market Commentary – February 2018

The trends and metrics for measuring the economy continue to be positive. Unemployment is very low at just over 4%. Industrial production, capital goods, lead indicators, ISM, PMI, car sales, and oil rig counts are either near records or not too far from them. GDP for Q4 came in a little soft, up 2.6%. GDP for 2017 as a whole was up 2.3%, compared with1.5% growth in 2016.
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Bruce's Commentaries / 01.10

Bruce’s Metal Market Commentary – January 2018

The trends and metrics for measuring the economy continue to be positive. Unemployment is very low at just over 4%. Industrial production, capital goods, lead indicators, ISM, PMI, car sales, and oil rig counts are either near records or not too far from them. GDP for Q4 came in a little soft, up 2.6%. GDP for 2017 as a whole was up 2.3%, compared with1.5% growth in 2016.
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Bruce's Commentaries / 12.09

Bruce’s Metal Market Commentary – December 2017

What a dramatic end to the year.  The tax reduction plan has passed through Congress and now will go to committee.  I was hoping that Congress would have passed the infrastructure spending bill first.  This would have helped the economy and many people in the metals business.
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News / 12.09

Shapiro Metals Announces New Wichita facility

Shapiro Metals, a leader in the scrap metal industry, has expanded their operations in the US by opening a new facility in Wichita, Kansas. The 35,000 sq ft facility, located at 2527 South Kessler Street, is the company’s ninth full-service location. No retail services will be offered at the location. 
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News / 11.11

Recycling Today-Wichita Plant

Shapiro Metals, a nonferrous scrap metal recycling firm, has announced plans to open a scrap metal facility in Wichita, Kansas, by the middle of October 2014. The new facility will give the St. Louis-based metals recycling firm 10 locations in the United States.
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News / 11.10

Shapiro Metals opens Kansas Site

The 35,000-square-foot facility will focus on nonferrous scrap collected from industrial accounts.The expansion into Kansas was triggered by client interest, company president and chief executive officer Bruce Shapiro told AMM.
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