6 Reasons Scrap Metal Prices Change Often

Posted: March 19, 2014


If you watch the scrap metal prices throughout a month you’ll begin to see that the prices change often and quickly. But why? Below are some different reasons that one day you may be able to get a higher price for copper, brass or steel than the next day.

The International Market – Because most scrap and garbage is transported overseas, what they pay for scrap is a large factor in what we can pay. An average of 55% of ferrous metal is exported every year and in 2010 that largest export from the US was scrap and garbage.

The Domestic Market – The NYSE is closely watched and evaluated so that the prices can be adjusted accordingly. The market in the US effect the scrap prices at scrap yards just as much as the international market.

Supply and Demand – Like everything else in the US, supply and demand play a major role in scrap metal prices. For example when the economy is slow, not as many vehicles are being produced which leads to less demand for steel, resulting in lower prices. Another factor that could affect scrap metal prices is weather.

Sellers and Brokers – Sellers with large quantities of scrap materials also want to be able to make money on their scrap material so this comes into play when the scrap prices are being decided.

Scrap Yards – Scrap metal yards need to take in all of these aspects when it comes to pricing for their customers. They have to look at each area and decide what price is best to be fair to small time scrappers as well as the scrappers with large amounts of material. This is why you should always check the prices before coming to scrap your junk metal.

Scrappers – As I just mentioned sometimes scrap yards will offer different prices for large amounts of materials. You can always check with Rockaway Recycling before coming so that you know what price to expect at the scale.

There are many aspects to be thought about when deciding on prices for scrap metal. Always be sure to separate each material you have and also call or check out our website when you need to know a price on a metal. To stay up to date with scrap prices check out our Facebook and Google+ pages or sign up for our newsletters.


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