Low Scrap Prices
Low Scrap Prices
Anyone that has attempted to scrap a car in Mentor, Lakewood or Old Brooklyn (or anywhere) has noticed that selling an old car isn’t fetching as much cash as it used to. In general, scrap vehicle prices do vary slightly when shopping around to see where to junk a car. Overall the pricing when scrapping cars is down quite a bit regardless of where you sell an old car. What influences the price you receive when selling an old car? The answer is that these prices are swayed by a variety of factors including global demand for commodities and the current volume of supply within the market. Joe Culbertson posted an article titled ‘Commodities reduce local recycling profits’ in the October 4, 2015 edition of thonline.com with the following highlights: “The plummeting prices of commodities like steel, aluminum & copper are taking a significant bite out of the local recycling industry. Many in the Tri-State area expect the situation to get worse before it gets better. Joe Culbertson, co-owner of T & T Iron & Metals, in East Dubuque, Ill., Dubuque, and Savanna, Ill., said the market started to decline in 2015 and prices have continued to slide. The company has been forced to lay off six of its 21 full-time employees. T & T Iron & Metals collects and purchases scrap from area industrial & manufacturing companies, then sells materials to mills or larger scrap companies.
For manufacturing companies that produce scrap as a byproduct of their operations and sell materials to companies like T & T, the slide in prices has meant less revenue. Klauer Manufacturing in Dubuque, said the company creates an average of 4 million pounds of scrap per year. Prices are about half of what they were at the start of the year.
Culbertson’s son, Tyler, who serves as vice president of T & T Iron & Metals, said activity at the company has slowed–you have companies that don’t want to sell. You have mills that are not looking to buy any of the products. Municipalities in the Tri-State area also have been impacted by falling prices. But city officials say curbside programs are not in jeopardy. Galena City has a contract for its curbside program that will be extended through 2018. The prices were locked in before prices began to tumble.
The City of Dubuque, meanwhile, partners with Dittmer Recycling and the Dubuque Metropolitan Area Solid Waste Agency to provide curbside recycling service to Dubuque residents. Dubuque Public Works Director Don Vogt said prices for many of the products collected through the program — including plastics, tin cans, newspapers and cardboard — recently have declined, but not as dramatically as commodities like steel or copper. As a result, the city is no longer bringing in revenue from its curbside program. To support the program, the city is drawing from past revenues produced by curbside recycling services.” The complete article is available at this link.
Commodities Overview:
Gold:
01/14: 1222.48; 07/14: 1315.80; 01/2015: 1198.31; 07/15: 1170.41; 10/15: 1137.58 (-7%)
Copper:
01/14: 3.40; 07/14: 3.20; 01/15: 2.81; 07/15: 2.62; 10/15: 2.33 (-31%)
Platinum:
01/14: 1367.30; 07/14: 1506.40; 01/2015: 1204.20; 07/15: 1080.80; 10/15: 908.90 (-34%)
Are you looking to scrap a car in Mentor, Chardon or Maple Heights? Cleveland Scrap Cars is where to junk a car for cash. We are a junk car buyer and scrap vehicle hauler that services the counties of Cuyahoga, Lake and Geauga. What is the solution when it comes to scrap car removal? Contact the home of cash for cars, CSC is a junk vehicle buyer offering free scrap car removal 6 days a week. To sell a car for cash, you need only to call (216) 282-JUNK for a junk car quote and you can sell a car for cash today. To scrap a car in Mentor, Walton Hills or Streetsboro you simply must have the vehicle title and a photo ID. Selling an old car to Cleveland Scrap Cars is a simple process of obtaining a quote for your junk car or scrap vehicle and then scheduling a time to have it towed away. If you are wondering where to junk a car, you should consider that we offer same-day junk vehicle buying service if you contact our scrap auto buyer before 2PM during the week and before 1PM on Saturday. We are closed on Sunday; however, you can visit our website http://www.ClevelandScrapCars.com and submit your car’s information (the year, make and model) and we will respond with a quote and quickly schedule picking up your scrap car the following day.