2019 Scrap Metal Prices Review
2019, the year of the pig is coming to an end. In a few days, time Christmas will be a distant memory, and the U.K. will be heading back to work.
It is no shocking news that 2019 has not been the best year in recent memory for scrap metal prices. Anyone following the industry and buying/selling scrap metal throughout the year will be aware that prices have dropped severely. Both ferrous and non-ferrous scrap metals have been effected. Let's have a look at how the year started and where its current position sits on at the end of 2019.
Scrap Metal Prices 2019
On the 2/1/19 the price for aluminium opened at $1857 per tonne. Aluminium is currently sitting at $1765 per tonne. That is a 4.9% fall across the year. The highest point of the year saw the price climb to $1922 in March. The lowest price point of the year was when the price fell to $1696 back in October. This was the weakest that the aluminium price had been since October 2016.
With prices taking such a hammering in2019 scrap yards around the country have been stockpiling large quantities of the material in the hope that the prices were going to go back up. Although over the last few months the price has shown some spikes, the highs of 2018 are not in any danger of being reached this year.
The copper prices started 2019 at $7180 a tonne and its current position as of Christmas Eve 2019 is $6152 per tonne. That is a rather substantial drop of 14.3% drop. The highest point of the year was when the price reached $7261 back in June. The price reached its lowest point of $5536 back in late September. The prices have not been this low since May of 2019.
The lead prices started 2019 at $1974 per tonne and its current position as of 24th of December is $1904 per tonne. That is a drop of 3.5% across the year. The highest point of the year was when it reached $2265 per tonne back in October and the lowest point of the year was $1766 per tonne back in May.
There was an impressive spell of growth in the value between the lowest point in May and the highest point in October. The price then drastically declined over November and December to its current position. This current position is the lowest the metal has been since July this year.
The steel market had taken a considerable pounding over 2018 so when 2019 began the prices were already on the low side. January 2019 the value was at $278 per tonne before climbing, gradually falling, rapidly falling in September before a sharp climb in November/December to its current position of $295. That is a climb of 6.1% across the year.
The highest point of 2019 was when the metal's value reached $335 per tonne back in February. It was pretty much all downhill from there to its lowest point in October of $234 per tonne.
2019 has been an eventful year in the U.K. In June Theresa May resigns as Prime Minister closely followed by Boris Johnson taking her place at number 10. Johnson then quickly calls for a general election which resulted in the Conservatives achieving a majority. No more tight victories and hung parliaments. Brexit which has been dominating the U.K. press since the vote on June 2016 is finally going to be a reality as of the end on January 2020. (do not hold your breath)
The ongoing trade talks between the U.S. and China have not seen much positive progress over 2018/2019. However, in the last few weeks of this year, an agreement is in the final steps of being agreed where U.S. officials say China has agreed to increase purchases of U.S. products and services by at least $200 billion over the next two years.
Predictions for Early 2020
Due to the price gains, we have seen over the last few weeks of the year scrap metal processing mills, and exporters are likely to be flooded with the material. This flood of material is due to the massive stockpiles that scrap yards have that they will be looking to offload in the new year. This sudden flood of material is more than likely going to drive prices down for the first few weeks of 2020. This is the same with both the ferrous and non-ferrous markets.
2020 New years Resolution - Be Found Online
What is one of the single most important factors in running a business? Customers are paying for your products/services. Having an active online presence is crucial to be found by customers, and the scrap metal industry is no different.
If you have a scrap car or scrap metal, business let us be a part of your new year's resolution. By taking up a Premium listing on our site for the unbeatable £350 per year you will be promoting your company online and directing some of the thousands of monthly users that come to our site to your scales. Follow this link to find out more and email or call us to sign up.