SCRAP METAL DOWN 75% IN 18 MONTHS

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SCRAP METAL DOWN 75% IN 18 MONTHS

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This misery continues… scrap metal continues to fall. We’ve had a lot of customers call us thinking we were crazy when we offered only $50 for their junk car instead of the $200 they got last year. Eventually they call back conceding the market did in fact drop.

In just about 18 months, scrap metal pricing on recycled cars has declined from a high of 18 cents down to 4 cents. The problems are being driven by economic issues with the Chinese economy. Also contributing to the problem are financial problems with Japan and India.

The United States has been one of the largest suppliers of steel in recent years and due to the economic instability, construction is down and virtually nil in those countries. In fact, steel production in the States has come to a crawl as there is a huge surplus.

Short term forecasts predict that it may continue to fall and owners may have to pay to have their vehicles removed. Two things can impact a major swing in pricing… upcoming elections in 2016 and a war which nobody really wants.

If we can be of any assistance and need cash for cars, feel free to call us at (888) 589-1747

By | 2015-11-13T16:54:27+00:00 November 13th, 2015|Cash for Cars|Comments Off on SCRAP METAL DOWN 75% IN 18 MONTHS

About the Author:

RCO Cash for Cars company's model was created to be one step above all the other car buying companies. We treat customers how we ourselves would like to be treated if we needed to sell an automobile. Honesty, integrity, respect and professionalism! Anything less than that is unacceptable. Our company evaluates vehicles based on the age, mechanical condition, and overall history. There is no one size fits all when selling a car, truck or van. Our human element approach eliminates the flaws of generic pricing guides. RCO Cash for Cars prides itself being one of the top car buyers in the country and is always looking for other car buyers and recycling facilities to join our network. Please feel free to contact us directly with questions or concerns!