Low Scrap Recycling Prices

Those who buy scrap cars and offer junk car towing are facing a harsh reality. Per ton auto scrap prices have plummeted, thus, those seeking to get cash for a car will be mildly disappointed with the outcome. There are various factors affecting the auto scrap market, primarily it is reduced demand from industry overseas. Those of us who buy scrap cars are unable to receive much for the vehicle hulks and the costs associated with junk car towing are the same or higher. This article seeks to further explore the pricing in the current market.

An October 18, 2015 article titled ‘Scrap prices drop about 75% in last year and a half; decline affects recyclers, fundraisers, consumers’ composed by Tracy Overstreet on Omaha.com brought up the following interesting information: “Aluminum cans donated to Habitat for Humanity and metal picked up for the Hall County Hero Flights aren’t bringing in the money they used to. Scrap metal prices are down. According to Ken Barber of Alter Metal Recycling, the prices are down about 75% from a year and a half ago. The U.S. economy is down and so is the export demand for raw materials. Scrap metal containing iron, which used to bring $130 to $140 per ton, is down to about $30 to $40 per ton–back to 2000 or earlier prices.

Prices have really plummeted in October–there was a $45-a-ton decrease this month. People who bring in scrap cars thinking they will get the typical $150 to $200 are getting $40 per car now. Metals other than iron, such as aluminum & copper, are holding their values a little better. The drop in scrap metal prices has also affected the strategy for Hall County Hero Flight collections. Volunteer Gary Quandt said metal donations are being stockpiled until prices come up a bit. Barber believes it may be closer to a year before prices rebound.

Habitat volunteer Michael Cronin picks up cans at Ace Hardware and a Pump & Pantry store with his wife, Jeanne. He said donations fluctuate from two pickup loads to five pickup loads each week. Aluminum can revenue brings in about $25,000 a year for Habitat, Executive Director Dana Jelinek said. Since 2001, Habitat has received $370,000 in aluminum can recycling revenue, plus another $212,540 in aluminum grant funds. Jelinek expects that revenue to continue to decline, not only because of the drop in prices but also because of the increasing use of plastic bottles, which don’t carry the same recyclable value. To read the article in its entirety, visit this link.

Are you looking to get cash for a car in Pepper Pike, Aurora or Shaker Heights? Cash 4 Cars Cleveland is involved in auto scrap and will buy scrap cars 6 days a week in the greater Cleveland area. Junk car towing is included with whenever we buy scrap cars. Even if your vehicle is wrecked or damaged, you can get cash for a car by contacting our junk vehicle buyer at (216) 359-1010. Often times fixing an old car is simply no longer worth doing. Spending cash on an old clunker sometimes becomes very tiring, as the repair bills pile up at your local Firestone Service Center, Conrad’s or transmission shop. Having been through this scenario of dealing with an old car before, there comes a time when it makes more sense to simply make a monthly auto payment on a vehicle that you enjoy rather than keeping up with endless repair bills.