Scrap Metal Market Trends Scrap metal prices for crushed auto bodies continues to increase. We’ve seen a increase of 6.23% over the past month, a decline of 45.58% over the past year, and a decline of 48.85% over the past two years. Chart | Scrap Metal Market Trends
Greece Vote Against Austerity Measures Prices of copper and nickel dropped 4.2% and 3.3%1, respectively, following news of Greece’s vote against austerity measures and recent moves by China to prevent a stock-market collapse. The resounding “no” vote in Greece has signaled a potential exit from the euro, prompting market speculators to predict a significant slowdown
From: Platinum Slammed by Supplies, Dollar (WSJ) By Tatyana Shumsky A strong dollar is pressing down on platinum. The precious metal, whose uses range from car-exhaust filters to jewelry, tumbled to a six-year low on Monday, weighed down by a surge in supplies that stems in part from the South African currency’s sharp depreciation against the U.S.
From: U.S. Is Awash in Glut of Scrap Materials (WSJ) By James R. Hagerty American companies have complained for the past year that the headwinds of a strong dollar and a slowing Chinese economy are hurting their earnings. For sellers of scrap metal, used cardboard boxes, and other waste, those headwinds are more like a hurricane.
Scrap Metal Market Trends Scrap metal prices for crushed auto bodies have finally ceased declining monthly. We’ve seen a increase of 2.67% over the past month, a decline of 43.90% over the past year, and a decline of 52.90% over the past two years. Chart | Scrap Metal Market Trends
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
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
When the Department of Environmental Management steps in to manage industry regulations, the discussion typically turns to government overreach. That’s not the case in Rhode Island, where officials were happy to announce a productive agreement between the state and Rhode Island Recycled Metals corporation. Although the company will need to address hazardous waste on its
“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