The tariffs on Mexico (or threat of) was the biggest news of the past month while the scrap metal market reaches its lowest point of 2019.
As summer heats up unfortunately the scrap metal market hasn’t followed suit. The constant drama that has been playing out between the U.S. and other key players related to the international trade wars has kept the scrap market reigned in. These constraints have led to the lowest value for scrap steel through the first half of 2019.
While not falling as much as last month, the value of scrap steel fell over 1% again and is now almost 18% lower than the first half of 2018. The nationwide average price per ton of crushed auto bodies decreased to $167/ton. Already the lowest the market has been in 2019, it is also the lowest it has been since December of 2017.