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Here are some photos of the types of copper we buy and sell Dry Bright Wire This type of copper be found inside insulated cable, It is ...

Friday 6 December 2019

Ferrous Metal Prices have dropped significantly

In the last 2 Years Ferrous Metal Prices have dropped significantly, For this reason free scrap metal collections can only be offered if you have a fairly large amount and the metal is stacked in a area which is close to our vehicle.

So this will mean most small collections of ferrous metals for example washing machines, cookers, dishwashers would all be chargable items.

Below I have included 2 charts that show how ferrous metal prices have dropped since 2018 up until the present date, to anyone who is not familiar with the term ferrous metals, I will explain for you.

Ferrous Metals are Steel, Iron and Cast Iron the word Ferrous is derived from the Latin word ferrum ("iron") all Ferrous metals contain Iron, the quickest and easiest way to check if you have ferrous metals is to hover a magnet over your metals to see if a magnet sticks then that will confirm whether you have ferrous metals or not, If a magnet does not stick this will show, that you have a more valuable Non-Ferrous metal. 
Non Ferrous Metals are as Follows Lead, Copper, Brass, Aluminium and Stainless Steel.
Non-Ferrous stainless steel is often mistaken for chrome iron and visa versa, the reason for this is the 2 metals are almost identical as mentioned a magnet would clarify this as chrome iron has a strong magnetic pull. 
High grade stainless steel has a very weak magnetic pull which can make things confusing but it is still considered non ferrous. 

Here is a link to a long list of items that are considered ferrous metals hope you find this helpful.

 Here you can see in the first chart  below dating from Jan 2018 - Jan 2019 a sharp drop in ferrous metal prices.

First Quarter 2018 Steel Price Compared to Current Price
The Second chart below is part fact part forecast, Ferrous metal prices were expected to rise in 2020 as this forecast shows but that just did not happen due to low production during an ongoing pandemic, the market actually continued dropping.

We will update this post with more recent charts in due course.

scrap metal price chart 2019

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