Influences on scrap iron price
Many factors are involved in determining metal prices, but ultimately they all lead back to the time-honoured law of supply and demand. Sometimes prices fall sharply because a large quantity of material is put on the market by a large economy. The coronavirus pandemic is another topical factor. This first led to a sharp decline in metal prices and then to their rapid increase. The underlying reason is that demand from manufacturing companies first fell dramatically and then they tried to catch up.
For most prices, the London Metal Exchange (LME) is used as a guide for determining current prices. For ongoing customers, we link our purchase prices to the LME so that a new price does not have to be agreed for each delivery. For iron streams, a link to the Metal Recycling Federation (MRF) index can be agreed. Curious about what Holland Recycling can do for your company? Contact us without obligation or make an appointment via our appointment module.