Posts Tagged "junk metals"

Why Do Scrap Metal Prices Change?

Posted by on Feb 7, 2017 in Blog, Scrap Cars | Comments Off on Why Do Scrap Metal Prices Change?

Why Do Scrap Metal Prices Change?

Up until 2000 the prices of scrap metal remained relatively stable. This made it easier for those who wished to recycle scrap metal to estimate how much money could be made from the metal they had available. However since this point in time the price of scrap metal fluctuates quite significantly and the price that is received when recycling a certain type of metal such as aluminum is likely to have changed if the same metal is recycled again even a few weeks later. There are a number of factors that influence the price of scrap metal and how it changes. The price scrap metal is driven by supply and demand. If there is a demand for a particular metal then it’s price will increase and then decrease again as this demand lessens. Depending on what is causing this demand this price increase can last anything from a few weeks to up to a year. At the current time the prices of scrap metal is largely controlled by the Chinese economic markets. China is one of the world’s largest economies and has a huge influence on the price of many commodities including metal all over the globe. If a particular metal is in demand by China then the price of it likely to increase internationally. As high temperatures are needed to melt down scrap metals the cost of fuels has an impact on the cost of metals. As the cost of fuel rises so does the price of the metal not just because of the cost of manufacturing but also transportation costs. Scrap car buyers are affected by these changing metal prices because it is hard for them to offer a consistent price to their customers. People who are looking to scrap their car will want the best deal that they can find and if the scrap car buyer is unable to get a good price for the metal then this will affect the price that they can offer the seller. They may have to look at other ways of cutting costs in order to offer customers a competitive deal. Call us now at 416-823-1977 to solve any of your scrap car removal...

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