What You Need to Know about Scrap Trends & Prices
Recycling is something that has become increasingly important in society as we work towards a more sustainable economy and helping to protect the environment. When it comes to scrap metal recycling, there are trends to be aware of that can influence your participation with metal recycling in Charlotte.
What Are Trends in the Scrap Metal Recycling Industry?
Scrap metal recycling, like many other types of recycling, has been growing increasingly popular in recent years as companies look to reduce their carbon footprint and strengthen their bottom line. One of the major trends is that more scrap metal recycling is occurring in North America as opposed to previous practices of outsourcing scrap recycling to countries like China, Vietnam, and Malaysia.
Another current trend within the industry is an increasing diversity in the types of metals that are being recycled. As things from automobiles to refrigerators and other appliances increasingly add technology, this means a wider variety of metals are used as well. For metal recycling in Charlotte and elsewhere, this means there is a need to handle a wider array of materials.
Of course, a final trend that can be seen in scrap metal recycling includes efforts to improve sustainability. Currently, the goal of sustainability is driving innovations in the way in which scrap metal is processed as well as the development of digital technologies that can allow recycling centers to be more efficient. This not only helps improve earnings but also increases the amount of material that can be recycled.
What Affects Scrap Metal Prices?
One of the most common questions companies have about participating in scrap metal recycling in Charlotte is about prices. This is not a surprise. After all, everyone wants to know what they can earn from recycling while transparent information is important. The reality is that scrap metal prices fluctuate based on a number of factors. The following are some of the most common things that affect scrap metal prices.
Supply & Demand
As you might assume, the law of supply and demand is also at play when it comes to scrap metal recycling in Charlotte. When a metal is in high demand and low supply, you will receive the highest prices possible. Conversely, if a metal is in low demand and has a high supply, prices will be about the lowest possible.
Time of Year
Something that surprises many people is to learn that time of year tends to have an effect on the price you will receive for scrap metal. This is because the time of year tends to have an affect on demand. For example, demand for recycled metal tends to be higher during the summer months when many industries are busier due to the nice weather. Meanwhile, demand for steel may also peak during winter months when steel mills are less productive, leading to increased need for recycled steel.
Market Price of New Metals
The market for brand new metals also has an affect on how much you receive for your scrap. Typically, when the price of new metal rises, the price of scrap metal will rise as well in the near future. This is because as the cost of new metals increases, more manufacturers will opt to use scrap metal instead, leading to an increase in scrap demand that sends those prices higher as well.
Another often surprising factor in terms of the price of scrap metal in Charlotte lies in international trade. There are a number of countries like China that import a large amount of scrap metal for production. When a country begins importing more scrap metal, prices go up. When they import less, prices go down. If a country significantly changes their policies, this can have a major impact on the price you receive for recycling scrap metal.
What are the Most Valuable Scrap Metals for Recycling?
As you can guess from the above section, demand for different metals can change, meaning the prices tend to fluctuate. However, there tend to be certain metals that are more valuable than others when it comes to scrap metal recycling in Charlotte.
The most valuable scrap metals tend to be copper, stainless steel, aluminum, brass, and lead. Of course, other metals are valuable as well, particularly when delivered in large quantities. However, these five tend to be among the most stable and most valuable when it comes to scrap recycling.
Recycle Your Metal with Us!
If your company is looking to improve their sustainability, recycling your scrap metal with us is a great idea! In addition to helping the environment, you can add extra money to your bottom line!