The market for scrap cars in Sydney continues to grow at a rapid rate. Luckily, it’s showing no signs of slowing down. However, this also means the industry runs into occasional hurdles along the way.
The Current State Of Scrap Cars In Sydney
One year ago, scrap metal prices maxed out at $425 per tonne. However, due to the increased demand, things quickly changed. Now, a single tonne of scrap can sell for up to $554, and it isn’t likely to drop in the foreseeable future.
What could be the cause of this sudden growth? Most experts are stumped, as the industry experienced a steady decline from 2015 to 2020. It was even expected to fall by 0.5% through 2021; however, the market is slowly getting back on its feet.
One likely contributor to this growth could be the rise of export volumes, proof that the world is gradually recovering from the effects of the COVID-19 pandemic. In addition, there has also been an increase in global trade as electronics and appliance manufacturers are resuming activity.
Experts predict that the industry will continue to grow over the next five years, with the market size expected to skyrocket from $2 billion.
Is It Still Beneficial To Recycle Your Scrap Cars In Sydney?
If you’re planning to sell scrap cars and metals, now is the best time. The recycling industry is not only becoming more profitable over the years. It also contributes significantly to economic and environmental progress.
The Process Only Consists Of Five Steps, All Of Which Require Little To No Energy To Complete:
- Depollution, or the removal of vehicle fluids such as oil, gasoline, and coolant to make the recycling process safer and more eco-friendly
- Dismantling, or the removal of reusable parts in the vehicle, including the engine, stereo system, and wheels
- Crushing and shredding, where the leftover metal frame will be compacted into small hand-sized pieces
- Resource recovery, or combining the scraps with other metals to strengthen them and removing auto shredder residues (ASR) such as rubber, plastic, and glass
- Transport to manufacturers
In fact, recycling conserves energy rather than expends, with aluminium being the most energy-efficient at 92%. Copper follows it at 90%, and steel at 56%.
On top of that, recycled metal allows manufacturers to adjust their prices. The less they spend on sourcing raw materials, the more you can save on purchasing their metal goods!
Do you want to play a role in today’s booming scrap car recycling industry? Consider selling your junk vehicles to us at Metal Force Recycling!
We are fully licensed to buy scrap cars in Sydney offering instant cash and free vehicle removals. To take advantage of our services, contact us at 0403 191 732 and request a quote!