BROOKLYN, N.Y., Aug. 27, 2019 /PRNewswire-PRWeb/ -- As the summer of 2019 starts to wind down, the price of scrap metal in the United States seems to be doing just the opposite. For the first time in five months, the price of scrap metal per net ton is on the rise with hot-rolled band being sold for $631/ net metric ton, cold-rolled coil for $800/ net metric ton and standard plate for $900/ net metric ton. Shredded scrap is also seeing an increase in dollars per metric ton at $200. While these increases are a relief to many after the slow price decline that took place in the first half of the year, they are far from unprecedented.
The predictions for scrap metal price increases began in 2017, when China announced that it would no longer be accepting shipments of US scrap metal in the quantities it had been, ultimately planning to cease acceptance of scrap metal entirely. Their decision comes as a result of their own industrialization process, which has produced so much of its own scrap that they no longer require US scrap to supplement their own.
China's announcement of its intentions coupled with the tariff imposed on scrap metal imported in the US have led to the price increases outlined earlier as well an increase in the amount of recycled scrap being used in the US steel industry. The use of recycled scrap in the steel production process has helped to strengthen the circular economy of industry and bolstering the industry itself, prompting a comeback of US steel.
This change on the production level has, in turn, transformed into an environmental initiative. The need to process recycled scrap into secondary steel has prompted many companies to purchase electric arc furnaces, which means that companies are no longer expending resources to mine and process virgin materials. The secondary steelmaking process also means that materials, if recycled efficiently with the use of an electric arc furnace, can be put through the same process when they inevitably become scrap again.
So, what does this mean for the average American not associated with the scrap metal or steel industry? It means that, whether you're an environmentalist or just looking to make a few dollars, the steel industry's increased use of recycled scrap can actually benefit you directly (and no, you don't have to rifle through your neighbor's garbage cans or recycling bins for aluminum cans to reap the rewards). One subset of recycled scrap that has become particularly lucrative is scrap metal from junk cars, whose shredded scrap is an integral part of the steel industry's circular economy. Companies whose sole goal is to buy junk cars are paying more than ever before. Learn how to get the most cash for your junk car from Rusty's Auto Salvage. So, if you need some extra money but haven't wanted to send your old car out to pasture in some junk yard, or just want to support the comeback of the American steel industry, it's good to remember that "your junk car is worth more than just the gas in its tank.", Rusty's Auto Salvage
Companies like Rusty's Auto Salvage, a national junk car buying service that works with hundreds of junk yards around the country, are taking advantage of the upsurge of the steel industry and passing the benefits on to Americans who utilize their service. In cities like Ann Baltimore, Maryland and Arbor, Michigan, selling a junk car will earn you top dollar prices without having to do much more than make a phone call.
Americans are seeing similar benefits from the increased use of recycled shredded scrap in the US steel industry, especially if their cars are from the year 2000 or newer. In these cases their cars can not only be scrapped and put back into the steel industry's circular economy, but they can sometimes be salvaged, meaning the seller stands to profit even more.
What's important to remember, though, is that not only can you stand to profit off of a junk car by partnering with companies like this, but you are also helping prevent the potentially devastating effects of junk cars sitting is scrap yards for extended periods of time. Standard disposal of junk cars can have negative impacts on local land and water sources, making it even more important to partner with companies who emphasize scrapping or recycling vehicles in an environmentally safe manner.
It is well known today how important it is to be environmentally conscious, even if we are unable or just unwilling to do the environmentally friendly thing, knowing how our actions affect the world around us is key. In this case however, due to the increase in price per net ton for many different kinds of scrap metals, the environmentally friendly thing and the personally profitable thing are one in the same. While price increases can be (and were) predicted by experts, the consequent comeback of the American scrap steel industry was not.
SOURCE Rusty’s Auto Salvage
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