Did you know that the time of year you sell your scrap metal can make a significant difference in how much you earn? While scrap metal prices fluctuate almost daily, there are still certain times of year that are better for selling. In this blog, we will break down the seasonal trends that affect scrap metal prices and discuss which time of year is best for you to sell your scrap.
Factors That Affect Scrap Metal Prices
Supply and Demand: The prices of scrap metals like copper, aluminium and steel are closely tied to construction, technology and transportation and therefore prices fluctuate depending on how high the demand is for each industry.
Global Events: Major global events, like the COVID-19 pandemic, can have a significant impact on scrap metal prices. When the scrap metal supply was suddenly cut off and many scrap yards had to close indefinitely, prices for scrap skyrocketed.
Fuel Prices: When fuel prices rise, scrap metal becomes more expensive to process and move, thus making it more expensive to buy.
Other factors include changes to currency, economic events and the risk of oversupplying.
The Best Times of Year to Sell
Summer
Summer marks the peak of construction season when building projects are ramping up, causing the demand for scrap metals often used in infrastructure like steel, copper and aluminium to rise.
Additionally, as the weather warms up, it becomes easier to transport large quantities of scrap metal, meaning that transport costs become lower which leads to better overall scrap prices.
Spring
Most people receive their tax refunds in the Spring and so have more money in their pockets to spend on auto parts, increasing the demand. Many salvage yards will pay more for your scrap during this time of year in order to keep their scrap yards full to meet the increase in demand.
Autumn
Early Autumn is another time of year that industries like construction see heightened activity. Many construction crews are trying to finish projects before winter sets in, which results in an increased demand for scrap metal.
Many scrap yards also have annual budgets to meet, meaning towards the end of the year they may offer better prices in order to meet their targets and clear out their yards for winter.
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While the price of scrap metal is driven by a variety of factors, the general consensus is that spring and early summer are the best times to sell, thanks to the demand from different industries and the mild weather.
If you’re looking to sell your scrap, make sure you shop around to find the best deals and ensure that you’re working with a trusted recycler, like us at A&L Vehicle Recycling.
Click the button below to get a quote price for your scrap metal, or if you have questions about our prices, contact us at A&L Recycling today!
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