Every regional zone saw a decline varying from just .5% up to 7%. This largest fall in price occurred in Zone 5, the southeastern United States. Historically, our August scrap metal market report was stable, averaging a 1.3% increase in prices over the last 5 years. Going forward, September has traditionally been a month of slightly shrinking scrap prices with small declines in price in 4 out of the last 5 years.
Prices have fallen mainly because of a downturn in global demand from manufacturers, especially in China, pressure on supplies, and the increased use of substitutes, said Joe Pickard, chief economist and director of commodities at the Institute of Scrap Recycling Industries. -Reuters, Low scrap metal prices hurting even U.S. garbage scavengers
NOTE: All figures are believed to be reliable and represent approximate pricing based on information obtained prior to publication. Data is sourced from American Recycler, London Metal Exchange, iScrap App, and Scrap Monster. Advanced Remarketing Services is not responsible for the accuracy or completeness of the information provided, or for the use or application of information herein.