April 15th
As the weather has improved the flow of scrap metal both ferrous and non-ferrous grades has increased significantly. This influx of steel scrap specifically has in large part caught up with the demand across the global markets. The demand for the steel scrap slowing has lowered values in both the domestic and foreign steel mills which in turn has lowered prices at the scale for peddlers and commercial customers alike.
The scale prices will reflect this downward movement and projections for the near future are for the market to continue to trend down. All scrap buyers are hopeful that this will be a temporary slide in value and will level out and possibly rebound toward the summer season.
Global influences play a very big role in the ups and downs of scrap metal values and this situation is no different. If the Trump administration and the Chinese government come to an agreement regarding tariffs on goods imported to both countries it would be very positive. This doesn’t need to be a complete solution, even positive steps toward better relations could be all it would take.
Please remember the staff and buyers here at Excel Recycling are available to answer questions and help you achieve the best results when selling your scrap metal.
– Wayne Edwards