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The Story Of The Highs And Lows In Scrap Steel Prices Has Just Gone Viral

Steel is a widely used metal that you can find almost anywhere. Just take a look around you and you’re likely to notice it on items like cabinets, steel rods, car door panels, vessels, and other steel artefacts. But what happens when it deteriorates, rusts, or becomes damaged? That’s your cue to start checking for the steel scrap price from an established metal scrap merchant to know how much you can earn by selling it.

Many metal scrappers will pay top dollar for steel scraps regardless of the condition, size, or weight. They accept a wide range of steel products, too, such as light gauge, heavy-gauge, over-size, in-size, and industrial steel. However, it’s best to compare price quotes from different scrap metal buyers to make sure that you can get the most as a seller.

Find Out What The Current Prices Are

Doing your research is a good start to learn the up-to-date steel scrap price. You’re likely to find news and stories on the fluctuating costs of scrap metals around the world. They are value reading to get an idea of how you can profit out of selling scrap steel and other types of metals.

As the global scrap metal market continues to thrive, many exporters are enjoying record scrap prices. In 2020, shredded scrap metal traded beneath the 10-year average of $425 ($US330) per tonne. It was as low as $348 ($US270) in 2017. Today, a tonne of scrap metal is likely to sell for $554 ($US430).

Reputable and established recyclers buy anything, such as structural steel, car bodies, and clean light gauge steel (e.g., roofing sheets). They also buy unclean light gauge steel, which is also known as white goods steel. It’s a type of steel used on freezers, washing machines, weight benches, bicycles, clothes dryers, light-duty metal shelves, auto parts, and dishwashers.

Scrap Steel Prices During COVID-19

The pandemic negatively impacted trade and the scrap steel price as ports closed or operated minimally. However, it didn’t take too long for things to rebound. Iron ore prices increased and so did metal prices. The demand is strong, too. The surge of prices is attributed to tight supplies caused by the buoyant markets for non-ferrous and ferrous metals.

According to S&P Global Platts, an independent price assessment and analysis group, multiple factors are driving the increase in scrap metal prices. For instance, severe winter weather in the US disrupted scrap collections. Automotive supply chains were also disrupted because of the global semiconductor shortage. However, as COVID-19 vaccinations continue, lockdowns are easing and businesses are reopening. This resulted in the improving demand for products that use metal, such as steel.

How Much Is Your Steel Value?

Metal Force Recycling guarantees the best scrap steel price today when you call us at 0403 191 732. Our friendly team will provide the most competitive quote and if you like our offer, we’ll pick up your steel scrap for free!