Wow what a year we have had with Scrap commodity pricing. I feel like we are on a roller coaster where the stomach goes right through the stomach! So many customers and suppliers keep asking me what is going on with the prices “last year I got more for the same item” and its true. I thought it would be good to share some of the reasons. The main reason is the trade war with China and Chinese policies towards the importing of recyclables. When the largest scrap consumer closes their borders to most metals and particularly non pure metals or alloys we lost a huge demand in the marketplace. We hear from many local Chinese scrap merchants that the demand is still there however the border has been closed so “whats a scrap man to do”. The answer is to keep on scrapping - put on your hard hat and boots and continue to process and prepare that metal we could be a “tweet” away from a new market.
The second factor is Aluminum tariffs that started with the US in some cases reducing demand.
It is hard to say if prices will continue a downward trend or if all of a sudden new headlines or a new government will get the metal flowing and prices will skyrocket again.
One thing we can say for certain is in scrap prices go up and prices go down, Canada Iron remains committed to buying Scrap in all markets. We have been there for the record ups and the big busts. It is important to remember everything changes and tomorrow is always a new day. The high prices will always be back.
We would like to thank our customers who have shared all of the business highs and lows with us. The majority of our customers, the returning ones all know that prices change and soon enough copper, brass, aluminum and steel will all be back. If your new in the business just remember what goes down must go up and vice versa.
If you have any metal to move we are here to work with you and give you the top price in Toronto for your metal scraps. Give us a call anytime 416-762-7351 for pricing!