Yu Zhilin, a farmer from Hengyang, China has capitalized on the popularity of the Transformers movie franchise in China with the aid of his son, Yu Lingyun. This father/son team, using only their ingenuity(as well as some instructions found while traversing the internet), and scrap auto parts are making waves globally for creating statues of Transformers’ mainstays Optimus Prime and
While the world reacts to China’s economic slowdown, the tone among the country’s top government officials remains calm. That’s because the growth rate (previously 10%, predicted to drop to 6.3% in 2016) has been intentionally slowed since 2012. A report published that year by the International Monetary Fund suggested that while China’s capital-to-output ratio was
Scrap Metal Market Trends Scrap metal prices for crushed auto bodies continue to drop. We’ve seen a decline of 5.61% over the past month, 50.70% over the past year, and 57.05% over the past two years. Despite some leveling out in the steel market, this trend is expected to continue, as economic improvement measures are
Steel Supply Chain Decline “Have scrap steel prices finally found a floor?”1 The decline in steel prices is slowing as scrap markets look for signs of positive change. Late last month, the Commodity Trade Risk Management group published new prices for hot-rolled coil, which evened out at “$440/st, down from about $640/st last November”.2 CTRM
Throughout early 2015 there has been an explosion of steel imports into the U.S. This has been a trend that was driven in the aftermath of the recession by Asian producers such as China, Japan, and South Korea. In order to put this trend into perspective, according to the American Iron and Steel Institute: the
Latest scrap metal prices news. Scrap metal prices – above is our market watch graph from January 2012 to April 2015. Over last month, scrap metal prices for crushed auto bodies increased 2.89%. Over last year, scrap metal prices for crushed auto bodies declined 46.99%. Over two years ago, scrap metal prices for crushed auto
From: Oil Prices Impact Metal Recyclers By: Mike Breslin It’s about time U.S. businesses and consumers are getting a price break on something… oil and its cornucopia of derivatives. Most visible are gasoline pump prices falling in many areas in the $2 per gallon range (as of this writing). It’s all because worldwide crude oil
“Too many other buyers. I can tell other buyers were here yesterday,” Johnson Zeng told Bloomberg. “There wasn’t as much scrap as usual.” For Zeng and other Chinese scrap metal buyers who purchase millions of pounds of metal in the U.S., it’s a seller’s market; with increasing competition among buyers, scrap yards can afford to
As we all know by now, the scrap metal market has taken a pounding with a strengthening U.S. dollar and slower than expected economic growth internationally, and this is projected to be the case for throughout 2015. However, on the near horizon there is potential bottom-line relief for some firms as new technologies are being
The scrap metal market has taken a pounding with a strengthening U.S. dollar and slower than expected economic growth internationally, especially with regards to Crushed Auto Bodies. To highlight this, the average price of Crushed Autobodies across the U.S. averaged $178.73 per gross ton as we finished the first quarter of 2015. This is a