Question

Why are scrap metal prices so low?

I sell scrap metal to try and get by when I need the extra income and I can't hardly make money much now with the scrap metal prices being so low.

What is causing these scrap metal prices to drop so slow?

I noticed the scrap metal prices were going back up and then the next month they went way back down.

I can't hardly even cover the cost of my gasoline in my truck to take the scrap metal to the scrap yard.

Answer 1

Scrap metal is a commodity and the scrap metal prices are controlled by supply and demand.

When the scrap metal is in high demand and there's not enough supply of scrap metal then the prices will rise to get more scrap metal.

But when there's too much supply of scrap metal and not enough demand for it then the prices will go down.

Another factor right now is iron ore and copper is being mined cheaper than they can melt scrap down.

I'm sure scrap metal prices will eventually recover so hang in their.