Hello Everyone,
If you’ve been in the scrap metal business as a buyer or a seller for any length of time you’ve heard that the scrap values follow oil values on a worldwide basis. There is no crystal ball to gaze into but if you look at today’s global oil values which have fallen below $35 per barrel the near future doesn’t look bright. Oil hasn’t seen pricing like this since October of 2002. There is sentiment that we’ve found the bottom of the market and hopefully that’s the case. The non-ferrous side of the business is off as well but not 60 – 70% like steel scrap. As 2016 approaches I believe most if not all the news will be positive.