Scrap metal prices for crushed autobodies saw moderate growth, 4.8% over the past month (see July 2016 Scrap Metal Market Watch), and have grown 51.53% over the past year.
Mid-month reports indicated domestic buyers are concerned over the impact of End of Life Vehicle exports. Traditional transactions for these vehicles are impacted by online sales and auctions, in which international buyers leverage attractive offers – their domestic counterparts cannot always compete.
Domestic producers published positive financial statements this month, owed largely in part to reduced costs and improved productivity. Despite short-term growth, some investors warn the second half of 2016 will see softened prices. The latest report from BMI Research suggests a surplus of steel in China will continue to limit profits through the third quarter.
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NOTE: All figures are believed to be reliable and represent approximate pricing based on information obtained prior to publication. Advanced Remarketing Services is not responsible for the accuracy or completeness of the information provided, or for the use or application of information herein.