Scrap metal predictors are telling us that it is going to be a long hot summer. Aluminum prices dropped 5% this week. It is significant since scrap cars carry about 5% aluminum:- the engine block and tire rims. Did you know that the steel industry is 9 times bigger than aluminum? However aluminum prices are always a lot higher than steel. Scrap steel demand has felt a slight drop. Since January, prices have fallen about 12 percent. This month: May 2013, you will see scrap metal prices drop slightly about 2%. If you have a vehicle you are thinking about scrapping, this would be the time to do it. Predictions are only good for 8 weeks. You can take a look at other aspects of the economy to make a “good” guess. I am going to go out on a limb and say that scrap metal prices will drop once more in June by 5% at most-10%.
Where better to look at scrap metal prices than in Pittsburg. The mecca of steel fabrication. Steel products also have not taken hold in the market place recently, reducing the value of scrap material. The football team -Pittsburg Steelers got the name from the largest old steel city in North America. When babies were born in Pittsburg, the boys got a pin with a football as a charm. You either played football or worked in the steel factory. Who better knows about the supply and demand of steel than in Pittsburg. Domestic fluctuations in stainless steel scrap are mirrored by foreign demand. In London, the scrap metal prices are more volatile. Some months scrap metals demand is nonexistent. European Market is looking for many alternatives for their declining economy.
More about Pittsburg Steel-ers in the next blog.
PAUL’S Scrap Car Removal and Disposal Management operation is fully licensed and has been providing quality service since 1992.
Call us now at (416) 822-3253 to solve any of your scrap car, van or light truck disposal needs.
Drop me a line: firstname.lastname@example.org. My website is www.paulscrap.ca