From: Scrap-metal sector is latest victim of commodities bust By: John W. Miller PITTSBURGH—Cars are piling up at junkyards across the U.S., as the commodities bust that has already bruised mining and metals companies from Ohio to Australia ripples through another sector: scrap. As prices for steel, iron ore and other commodities have dropped because of a demand
Across the country, automotive experts are watching the price of some used vehicles drop. Smaller cars – subcompacts and entry-level sports cars – are seeing a 2.5% reduction in price on top of previous low prices.1 In the past, consumers have been reluctant to donate a car or truck to charities like The American Cancer
Despite the poor outlook for scrap metal pricing and declining profit margins for scrap yards as we progress into the year; some within the industry are trying to shift priorities to shift this into an opportunity for their businesses. Some scrap yards are seeing this as an opportunity to gain a competitive advantage by focusing