2016 is behind us and many in the scrap industry, including those who sell scrap, are happy about that. In 2016 scrap prices started out low but began to rise in April, only to plummet again in September. We have seen a recovery over the last few weeks and many experts expect that recovery to continue over the next few months.
Going into 2017, many in the business world are optimistic about growth in the coming years. Consumer confidence is at a 15 year high, while many anticipate lower taxes and fewer business regulations in 2017. All of these ideas are positive for Cozzi Recycling, its customers, and our employees.
Thank you for your business in 2016 and we look forward to sharing a strong 2017 with you all!
– Frank J. Cozzi, CEO
Cozzi Recycling Welcomes Local Fire Departments
At Cozzi Recycling, we understand the importance of being active members of our community. More importantly, we understand the value of practicing responses to unforeseen circumstances. Recently, we opened the doors of our facility to work with local fire departments and their rescue teams on rescue training. We were happy to welcome 25 service men and women from the Bellwood, Westchester, Northlake, Rosemont, and Norwood Park fire departments. They used our equipment to practice using torches, saws, the Jaws of Life and other tools used in emergency situations.
James C. Adams of the Westchester Fire Department expressed the value of this opportunity: “It was such a great opportunity to be able to practice with these tools and figure them all out now, rather than when there is a real emergency.” Adams looks forward to other opportunities to keep up with training on their emergency rescue equipment.
Using these tools and techniques in real life threatening situations is unfortunately a regular occurrence. Practicing during a real crisis is not an option.
We welcome the opportunity to work with these heroic public service individuals who may someday save one of our lives.
Clichés: Written by Frank Cozzi, Sr.
The first time I heard my father say: “You’re crying with a loaf of bread under your arm,” I had to look under my arms to see what he was talking about. It was a saying from the great depression era when many families couldn’t afford to buy a loaf of bread. Another of his favorites was: “Believe nothing you hear and only half of what you see,” meaning that there are a lot of people out there that are deceptive.
He was also big on bites “Don’t bite off more than you can chew.” And sometimes you just have to “bite the bullet” or sometimes in order to avoid an argument he would advise that you “bite your tongue.”
He would also warn about fire. Often worrying about, “Burning the midnight oil” or “Burning the candle at both ends” and when it comes to customers or friends you’re unhappy with “Don’t burn bridges”. And combining 2 he would say if you’re “firing on all cylinders” you won’t be a “flash in the pan”.
There were a lot of things he said you couldn’t do too. “You can’t judge a book by its cover.” Particularly when you’re buying scrap metal. Or, “You can’t make a silk purse out of a sow’s ear” when you’re selling it. “You can’t have your cake and eat it too.” And when it comes to trying harder, “you can’t get a hit if you don’t swing the bat.” When it comes to people unable to pay a debt he would say: “You can’t squeeze blood out of a turnip.” Speaking of turnips, if you tried to fool him he would remind you that he “didn’t just fall off a turnip truck”.
Needless to say it’s “as clear as mud” that there will be more of these clichés “coming down the pike.”
An Inside Look at the Current Market Conditions with Frank Cozzi Sr.
Scrap metal prices are down again in October. With exports of scrap metal down 20%-30% over the past few months and a lack of demand for new steel, prices will continue to erode. Scrap steel prices have already come down close to the $60 per ton number I mentioned a month or two ago and we haven’t reached the end of the year yet.
My phone has been ringing off the hook with calls complaining about low prices. Lower prices affect everyone. We are no happier about it than those who have been calling about the low prices. Though the prices are lower, we at Cozzi Recycling are always priced competitively and have the advantage of clean and organized facilities that make it easier for our customers to get in and out quickly.
They say the cure for low prices is lower prices. I hope this medicine takes affect soon.
Scrap metal is feeling the pressure from Steel mill maintenance shut downs, lack of demand for new steel, and continuing imports of steel and scrap steel. The lack of demand for scrap steel in September could have a negative effect on scrap prices for the next few months. We expect prices to fall $20 or more in September. Some steel mill scrap buyers are predicting prices to fall $60 by the end of the year. We hope they are wrong!