3 Things To Expect When Scrap Prices Are Down

Posted: December 2, 2024

When the markets are hitting 10-year lows for some materials, Rockaway Recycling like any other business has to adjust to accommodate for the changing scrap prices. We already chatted about when you can expect prices to regain some reasonable levels, but we have some things to keep in mind when scrap prices are low. Below are some things should expect when scrap price are down.

Our Strict Weight Limit on Steel & Iron Purchases

We’ve always had a minimum weight for steel purchases at our location, but when prices were a bit stronger we weren’t enforcing it as strictly. Now with scrap steel and iron prices at 10-year lows, Rockaway Recycling has a strict policy on the steel purchases being at least a 500 pound minimum at our location. Many times we are asked why we have this policy in place and the answer is simply cost of business. It is costly for our team and trucks to haul the material from our yard, so when prices are so low that the profit margin is cut down significantly, we can’t pay for materials that we aren’t getting a return on in small quantities. If you have any questions about our steel policy, feel free to call us at 973.625.9560 or contact us below.

Very Picky With How Things Are Separated

Another topic we’ve covered recently, when prices are lower we have to make sure to buy the materials and items correctly at the right price. So our scale managers will be double checking your separating for materials when you bring them to our scrap yard. If you have some metals mixed together, you can expect to get a lower price. It costs us time, which costs us money, to separate the items for you, so when we are buying them our price will be the lower tier. To help avoid this problem and you losing money on your scrap metal, we suggest separating your metals as efficiently as you can. If you have questions about how to separate things or aren’t sure, be sure to ask one of our scale managers when you bring your material here. We will be happy to help.

Prices Will Change Often & Quickly

When the scrap market is as volatile as it is right now, you can expect that scrap prices can change not only daily but hourly. Rockaway Recycling prides itself on keeping our customers informed on the current and latest prices we are paying, but sometimes thing change very quickly. So if you are preparing your trip to our scrap yard and you’ve checked the prices online or even called us for a price, don’t be surprised if you show up and prices have changed. We have had customers call early in the morning for a price and when they show up later in the day, the prices have changed dramatically. Your best bet is to continually check the scrap pricing page on our site and call us when you’re on your way to get the most up to date price.

Current Scrap Metal Prices at Rockaway Recycling

If you have any questions or concerns about the condition of the scrap metal market, we will be happy to answer them. Contact us through the form below and we will be sure to get back to you within 1-2 business days.

Contact Us With Questions About Scrap Prices

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