7 Game-Changing Salvage Metal Trends to Keep an Eye on
Scrap metal recycling’s popularity is on the rise. However, the salvage metal market is a complicated industry, and it requires you to follow a lot of different factors that directly affect the prices of metals. To succeed, you should be aware of the current metal trends, this way you will be able to quickly adapt to this always-changing environment. Here are the seven game-changing salvage metal trends that you should keep an eye on in 2021.
Take Advantage of Trend for Sustainability
For a couple of years now, sustainability has become a trend that sooner or later affects each and every industry out there, and it didn’t miss scrap metals. Recycling, in general, has taken on a new importance, especially since the Covid-19 pandemic. During that difficult time, some metal supply chains were challenged and the importance of giving metals a second life has become ever important. This means that companies have to turn to recycled salvage metal, to meet their needs. Use that knowledge to your advantage and try to establish a good relationship with a scrap metal company that will offer you the best prices and terms.
Follow Oil Prices
You might be surprised that oil prices have a strong correlation with metal prices. They are both materials sourced directly from their raw form in nature and are deeply connected thanks to the same supply channel. The oil industry consumes a lot of metal, and new or salvaged metal relies on oil to transport and process those materials. A strong relationship between the two industries means that when oil prices are high, transporting salvage metal is more expensive. Paying attention to oil prices can be an excellent indication of metal prices.
E-Waste Is Predicted to be a Literal Goldmine
By 2018 the world started generating over 50 million tons of electronic waste, including devices like smartphones, tablets or laptops. Why so much? It is quite simple, as new technology is introduced year-on-year, people get rid of obsolete equipment. The life cycle for electronic devices has become very short. However, old hardware can be rich in scrap metal and is most definitely one of the scrap metal trends that you should look out for. Many electronics contain:
Huge Demand for Recycled Aluminium
The current trend in the automotive industry is to produce lighter vehicles. Reduction in weight is the most efficient way to reduce carbon emissions and meet ecological targets, which is why aluminium, as a light material, is on the rise when it comes to overall consumption. Aluminium can replace steel in some cases, and recycled aluminium is becoming even more popular. Using recycled aluminium is a lot more efficient than using mined material, around 90% more. Because of this, big firms are moving to salvage metal to improve their green status.
Don’t Focus on DIY Ingots
There is one scrap metal trend that you should perhaps avoid. Melting and moulding your own scrap metal ingots might sound like an exciting DIY project, but it might not bring you many financial gains. You should know that most scrapyards don’t accept homemade metal ingots, and there are a couple of reasons for that:
- They don’t know if your ingots are made out of pure metal.
- Scrapyards don’t typically pay for pure metals.
- DIY ingots are very difficult to recycle.
It is far easier and practical to salvage metals and just turn them in for money, rather than trying to modify them yourself.
The Hybrid Car Effect on the Market
The production of hybrid cars is in full force, and it affects directly the demand for palladium, as they have catalytic converters to help them meet emissions targets. This type of converter contains between 1 and 12 grams of platinum, palladium or rhodium. Add the fact that using recycled palladium is only 10% of the cost of mined palladium, and you are in business. Currently and in the near future, you can expect great prices for these metals.
Recycle Your Metal With Scrap Metal Fulham
From new regulations to increasing global demands and even the impact of the pandemic, the scrap metal market is changing every day. This is why more and more people turn to professionals to help them benefit from the scrap metal in their possession.
The salvage metal industry is getting more and more attention, so to make sure environmental and safety standards are ensured, and your metal is recycled properly, a scrap metal company might be your best bet. If you want to make the most out of the metals you have salvaged, work with Scrap Metal Fulham to make sure that you are not missing out on any of the current trends.
Now you are aware of the most important scrap metal price trends, and you will be able to navigate within the industry without much trouble. Use this knowledge to your advantage, keep an eye on the trends, plan accordingly. But most importantly, partner up with a scrap metal company that has a lot of experience, and start making some serious money.