price of scrap metal

Historical price of scrap metal in the USA in 2016

The price of scrap metal has significantly gone up in the past few years because of the relevance and importance of these scraps to our community. Some people are opting for them owing to the benefits of recycling to the society. Other people are going for the recycled thing because of their durability and affordability.

Why the price raise?

The undisputable answer to this is the demand upsurge. Why the demand upsurge? This can be ascribed to the increasing knowledge by different artisan and scrap dealers on how to turn metal salvage into quality and affordable products.

High demand of scrap

Most scrap yards all over the world are never specific in the prices of scrap metals or rather don’t quote any price because of the ever changing prices of scraps. There is no steady price for scrap metals because their prices change with time. Recently the prices have not shown any sign of dwindling. Occasionally, scrappers bargain a scrap price through the phone but by the time they make the payment, the price may have risen.

The raise in demand for copper scrap products

Scrap metals from copper are commonly classified in the category of the non-ferrous metals while doesn’t contain iron thus making them resist corrosion better. With the just concluded presidential election in the United States, the market for scrap metals has drastically gone up with over 20 cents, a move that has never been seen for a very long time. The rapid increase implies that the economy of the United States has also increased after the elections. This is an indication that the value of scrap metal is profoundly improving and the demand for the scrap products as well as the recycled metal items is accelerating.

Iron and steel scrap

Steel and iron scraps are very vital raw materials to most industries producing new cast iron and steel products. Most foundry and steel making industries in the United States highly depend on the readily available scraps from manufacturing firms and from the recovery of scraps metals that are no longer needed or salvage. The increase in demand in these scraps has highly affected their prices to go up. Previously scrap metals were seen by most people in the United States as waste products. Currently, domestic steel industries in the USA are recycling thousands of metric tons on a daily basis limiting scraps thus an increase in prices.