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A few years ago cashing in a junk car not enough to net a weekend trip Today you get barely enough to pay for a hotel room What gives.
Junkers cars, including Medics junk car didn t suddenly start taking advantage of you, we're facing a big problem of scrap prices have fallen over the past two years, the cars that automobile junkyards buy that have reached the end their lives are stripped of all materials and fluids and crushed, with the remains sold to a local chipper us and other junk car buyers can not get close to what we were before, and there is much work to tow a car, strip and crush believe it or not and therefore the price we are able to offer to buy cars has reduced considerably.
But why the prices of metal scrap suddenly so low, even compared to recent years, the prices of scrap cars How does this affect the junk car industry and what can you do to ensure you get the greatest possible value for your junk car, we have the answers.
How metal prices affect the price of your junk car.
According to an article on the car contains an average of 2,400 pounds of steel The truck contains about 3,000 books account for about 55 percent of the total weight of the car is also about 300 pounds of aluminum in the average vehicle.
When Junker car buys your vehicle, what they're really buying is the value of the scrap metal steel, aluminum, copper and other metals can be sold for cash to scrap metal dealers scrap dealers, in turn, sell the metal to manufacturers that recycle the metal and turn it into new cars, building materials, the son, smart phones and other items we use every day.
The price of scrap varies according to demand if car manufacturers aren t make a lot of cars, the price of steel and aluminum drops If manufacturers aren t the construction of new houses and apartment buildings, the metal price decreases.
demand right now for the metal is low and supply is high this means that the prices are low In fact, the price of steel has fallen from 480 per tonne in February 2015 to 50 in early 2016, you can see plummeting prices in this table Quandl.
The trend is similar for aluminum, although it is not nearly as alarming as you can see from this graph from.
Why the sharp fall in metal prices it has to do with what is happening in countries around the world.
A brief recent history of the international metals market.
The metal is a commodity of a raw material for manufacturing or food that's traded internationally means that what happens in the world affects the price of years, the economy of China was the growing so fast, it created a high demand for steel, copper, aluminum and other metals, its economy has slowed to a pace sprint to the aftermath of a marathon runner, metal demand has also down, says an article on CNN Money.
However, that doesn t mean the production of China's steel slowed China has huge overcapacity in steel production, says Jan Pfeifer with InvestmentMine This steel has to go somewhere and now he's going on the world market, where it drives down prices.
China produces the steel both finished and semi-finished products, said Nick Tolomeo Platts with a leading global provider of information on energy and raw materials and reference price references Steel also semi-finished known as the ticket was used as a substitute for scrap by steel mills in Turkey, the biggest buyer of overseas US scrap now they're opting for Chinese billet, scrap US remains stranded on the east coast .
Pfeifer said the US and the EU have imposed huge tariffs on imports of steel to try to counter the influx of cheap Chinese materials that s help, said Tolomeo, but it will some time before the whole of the United States of steel supply chain sees a sustained market improvement in these measures.
Every time you try to understand what China is doing it his riddle, he said that they have somewhere near 150 million tons of excess capacity they seem to have more serious every day about streamlining this ability, but even if they are serious about taking that action, it is probably two to four years before the US market saw a significant impact.
Thank you to tariffs, there were slight upticks in steel prices in February and March If price increases can be sustained through June and July, Tolomeo think the recent U S scrap price gains can be sustained.
Most steel mills are linked closely to the energy industry because it Sá largest consumer of US Steel, he said that if the price of oil and gas drilling up and increases, which can also help increase the scrap steel demand, however, the fundamental global demand probably won t recover in 2016 too, he reports.
The Wall Street Journal called junk car dealers the latest victims of bust goods They interviewed several automotive scrap yard owners who confirm their past five consumers pay 400 for the average car between 50 and 100 The Institute for Recycling scrap Industries noted that 50 sites metals waste ceased operations total others have stopped selling cars and prices are until just storage back.
How to get the best car scrap price per ton for your automobile.
Given all this, how do you get the highest price possible for your junk car.
You can call around the various scrap yards in your area to see how much they're paying for cars but we recommend you to save you time and make a Junk Medics car call Although we're based in New York and can help you recycle your car for cash over the state, we also have a partnership with auto dealers of junk food in the states around the country, there is a lot of junk cars involved in a car program Medics junk in California, Colorado, Florida, Georgia, Illinois, Indiana, Michigan, Missouri, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Texas, Washington and Wisconsin see our website for a complete list of the cities where we work work with Medics junk car, no matter where you live, sure to get the best deal possible for your junk car .
If there is no urgent need to get rid of your junk car, you can also hang on to it for a few years, metal prices rebound once the global economy picks up again.
Todd September 30, 2016 Junk Cars Car prices JUNK steel industry.
Scrap price per tonne of car 2016 Value For Scrap Currently Not So Sexy, scrap prices in 2016.
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