WHAT’S IS THE FUTURE?
Scrap metal continues to have a gloomy prognosis as we migrate toward the end of 2016. Except for a few positives, all metals including scrap metal are continuing to scale back its operations in the global market. Australia and New York have scaled down their operations. Ferrous (scrap metal) prices have declined up to 30 percent in less than two months. November will remain steady. No further dramatic upsets are expected. If anything, there may be a slow upward climb.
We can not ignore that low metal prices on the London Metal Exchange and in Shanghai have seen prices fall to their lowest level in greater than six years.
Steel to grow: The World Steel Association (worldsteel) is predicting an increase in world steel demand of 0.7 percent in 2016 versus a 1.7 percent dip in 2015, and a 0.7 percent gain in 2014.
They feel that the market will stabilize in China, and that growth in India will show resilience to the trend of slowing economies globally. published by Rick LeBlanc
Predictions: If there is a (predicted) growth in the scrap metal industry of maybe 3.3% (14.37 million tonnes) around the world, it is said that any growth would be driven by the automotive and construction industries. Rumors are abound. It makes sense that any bulk purchases would be associated with construction and new cars are bought each year. Our highways are evident that the auto industry is not showing any signs of a slowdown in the near future.
What is the future of the scrap car industry? Scrapping cars will still be around as long as people keep making cars and build new buildings. In fact, Mississauga is getting a new skyline near square one and the city hall. Lots of new construction for the future. This chart from the worldsteel association show what the rest of the world is doing comparing 2015 to 2016 for the last 10 months in 2016. You can see all the major players in the Global Scrap Metal Industry.
KEEP ON SCRAPPING!
PAUL’S Scrap Car-Removal and Disposal has been providing quality service since 1992. Call us now or send a text to (416) 822-3253 to solve any of your scrap car disposal needs. My website is http://www.paulscrap.ca in Ontario, Canada.
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