With the rapid market decline in scrap metal prices reaching it’s lowest level since late 2010, buyer uneasiness has spread. Advanced Remarketing Services Inc. spoke with some of the buyers in our network and here were some of the comments we’ve heard:
Tom from Smith’s Auto Recycling in Clinton, MA says: “[The drop] is the worst I’ve seen in my forty year history,” referring to the drop in scrap metal dollars per ton, which he fully expects to drop sharply again by the end of the week. The reason for this drop he’s said is “due to the declining demand out of foreign markets and the surplus of materials,” Tom told us.
Randy from LMB Recovery in St. Paul, MN says: He “Predicts that [the market] will continue to fall for a couple more months before the winter, at least. It just keeps going down.”
Brian from TMS Enterprises commented on commodities in general dropping and told us that he thought that “this drop was just part of the normal cycle and [he’s] not worried; it’s all just part of the game.”