I found this article about the downturn in the metal market and it was an interesting read so I figured I would share it here for you guys/gals to read
Once a hot item, scrap metal has cooled considerably
I found this article about the downturn in the metal market and it was an interesting read so I figured I would share it here for you guys/gals to read
Once a hot item, scrap metal has cooled considerably
Unfortunately there's no sign of that happening anytime soon. Time for plan B or C. This forum is full of profitable plans. Good luck.
I wouldn't be too sure of that. It looks like China will ditch their one child policy, allowing two children instead. According to the article below, this would result in an additional three to six million births per year and a corresponding increase in consumption of 120 to 240 billion yuan (approx. 19 to 38 billion US dollars). That will increase demand for commodities.Quote:
Originally Posted by parttimescrapperMD
China to leave implementation of 2-child policy to provinces - World - CBC News
China melts makes 700 million tons of steel a year annual capacity. They use mostly blast furnaces out off that 700 million only 11 percent is recycled scrap. They also have 300 million tons of over capacity. They don't need much scrap and they are pretty much self sufficient on the scrap metal supply side. The dollar being higher doesn't help us out all either. Just my 2 cents.