As leaves continue to fall and temperatures drop the used car industry wholesale prices follows suit. According to the NADA Used Car Guide’s October Update, in the month of September the price of used vehicles up to eight years in age fell 3.6%. This decline would mark the largest yet in 2016 for the used
In October 2016 scrap metal prices for crushed autobodies saw a decline of 22.4%. See September 2016 Scrap Metal Market Watch, and a 18.73% growth over the past year.
Schnitzer Steel Industries, Inc. reported positive financial gains this week, with $0.41 earnings per share, compared to losses in the second quarter of 2016. Ferrous sales volumes also increased 13% in the third quarter of 2015. Total domestic volume remains low, as scrap products are exported to international buyers (including India, Turkey, and South Korea).
Scrap Metal Market Holds Steady Scrap metal prices for crushed autobodies held steady with 2.17% growth over the past month (see June 2016 Scrap Metal Market Watch), and have grown 31.62% over the past year. Across the Atlantic, the Brexit vote sent a shockwave through the base metal market, temporarily causing prices to plummet. However,
A double-edged metal sword As domestic prices rise from a tariff on Chinese steel, some worry the lack of cheap metal will weaken the ability for U.S. manufacturers to compete in the global marketplace. Now the greatest fear we have is that China keeps the cheap steel for itself and makes products that undercut other
From: Alcoa to decrease aluminum smelting and refining capacity
A hybrid of economic forces continues to reduce already depressed prices of metals, including gold, steel, copper, and now aluminum. “China’s stock market crashes again as panicking sellers lose faith” reads today’s headline, underscoring the gravity of weak demand while giving speculators cause to lower oil futures below $50 per barrel.1 Mining production has increased