What We Do When Scrap Prices Are Down
Posted: November 6, 2015
The Rockaway Recycling team understands the frustrations that many of our customers are having this year with the scrap prices being at 10-year lows for some commodities. It can be a turn-off for scrapping, but we try to make it the best experience you can have whether the prices are up or down. Here at our scrap yard in New Jersey, we may do things a bit differently than other yards may be doing across the country, but as always we try to be up front with you about everything we’re doing.
When scrap prices are down like they are now, we want to give you a sense of our mentality and how we approach the situation. Below are some things we make sure to buckle down on not only to make it best for our facility but for our customers too.
We Keep Prices Updated Often
With volatile market conditions, it’s important for us to keep our eyes on the numbers and ensure that we are continuing to pay fair prices at our scales. So when prices are low like they are now, we are sure to keep our listed scrap prices on our website as updated as possible. Normally we are updating or changing our prices first thing in the morning between the hours of 6am-8am. However, during unstable market conditions the prices could change a few times during the day. So we are sure to update them as the day goes on. If you are ever wondering when the last time our prices were updated you can see the time stamps on the top of our lists. If you have any questions about our prices, feel free to contact us below.
We Don’t Stock Pile, We Ship Our Scrap
Contrary to the industry norm, we don’t hold onto materials when scrap prices are down. That has always been our mentality, ship out our scrap as we bring it in. Many people in the industry from scrappers to large warehouse to ports will sometimes hold onto their materials in hopes of the scrap prices rising soon. However, here at Rockaway Recycling we are not the gambling type. So whether prices are down or up, we are constantly moving our materials. That reflects on the same exact advice we give our customers, bring your materials in now so that you don’t get hurt later on if prices continue to fall. Also it’s not only risky for prices, but it’s a risk to hold onto materials like copper and brass if you don’t have a secure place to store it while you wait.
Minimum Weight Requirements on Steel & Iron
Because scrap prices are at 10-year lows for ferrous metals like steel and iron, Rockaway Recycling is strictly enforcing our minimum weight requirement of 500lbs. for these materials. Because the value is so low, we have to place a weight requirement because of the cost of labor, trucking, and transportation has to be cost-effective. If you are not too sure if you have 500lbs. give us a call or send us some photos on our contact page and we can give you a better idea.
We Keep You Updated On Market Conditions
We know it’s important for you to stay updated on the prices, but knowing what is happening in the industry with factors that determine the prices is important too. The Rockaway Recycling Team is up front with what we are seeing in the market conditions. We will often give updates and detailed forecasts on our news page so you can stay in the loop and understand how scrap prices are impacted.
We Still Honor Coupons
While it may not seem like we would, Rockaway Recycling still honors any coupons and tier pricing you have with us at our scrap yard. We value our customers and want to continue to provide you opportunities to make more money on your scrap. We have several options for making some extra cash on your scrap. Plumber and Electrician prices are special for contractors in the area that are bringing in specific materials. Sign up for our emails to get exclusive coupons only for our subscribers.
If you have any questions about our scrap prices, our pick up services, or anything else we have going on, please feel free to contact us below with your information.
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