Metal Market Outlook in 2018
The most recently available market data show that the scrap industry in the U.S is currently a $90-billion industry. Up from $54-billion in 2009. After a rocky 2016, the scrap metal market rebounded solidly in 2017. As we enter 2018, lets take a look at the most common metals in scrap.
Steel
Steel is one of the most commonly scraped materials. The World Steel Association reported that in 2016 there was a 2.6% increase in demand for steel, this number was followed up by a 3.0% increase in demand in 2017. According to their most recent report, all signs point toward the global demand for steel to increase in 2018.
Copper
The copper market is a great indicator of the global economy. In 2017 the U.S economy saw a great activity, with stock markets reaching all time high. As copper is a great indicator of the economy, and vise versa, experts in the scrap metal work predict that the demand for copper will soar in 2018.
Zinc
As with our previous two metals, Zinc had a great 2017 in terms of demand. In fact, there was supply gap for zinc and scrap prices reflected that. Prices for the scrap metal were up 36% year over year at some parts in 2017. Experts believe this demand will continue to grow in 2018.
Looking to make some extra cash in 2018? Are you a business looking to get rid of unwanted scrap for free?
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