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How Scrap Metal Prices Are Determined

One of the most common complaints we hear from customers in the scrap metal industry is the lack of transparency surrounding current market prices for scrap metals. Customers are often fearful of being “ripped off” because of negative past experiences with other scrap yards.

Metro prides itself in being the recycling yard you can trust. We attribute our growth and success to our dedication to transparency and our reliability and honesty in all our business dealings. You, as the customer, deserve to know exactly how our metal prices are determined. So, how do we determine the current prices for your scrap metal?

The values of scrap metal change on a daily basis, similar to stocks in the stock market. For example, the price of Bitcoin, Disney Stock, or Gold will change daily based on the current market demand for those indexes. Similarly, demand for scrap metals fluctuates as manufacturers around the world compete for raw material to create their products. For example, large car manufacturers such as Ford or Toyota need sheets of steel and aluminum to produce their cars. Depending on the car market, their demand for metal will drive up or down the price of scrap metal. When demand for metal is high, prices go up, when demand for metal is low, prices go down. There are thousands of different industries that purchase different types of metal. For example, large manufacturers need steel, electronic developers need copper, and many consumer products use aluminum. Depending on the success of each of these specific industries, the prices of their corresponding raw metals will respond. Sometimes the price of steel is skyrocketing while the prices of brass are plummeting and vice versa.

Steel Prices Last 5 Years

When you bring in scrap metal to any of our yards or any of our partnering yards, you can rest assured that you are receiving honest, competitive prices based on the current demand for scrap metal around the world. If you have any questions about pricing or how we grade your materials, feel free to contact us or drop by one of our locations. Our expert metal buyers will answer your questions, grade your material, and ensure that you walk away without any doubts on the service you receive.