To the Loyal Customers of Kimmel Scrap,
As many of our customers know we try and rotate the writing of our newsletters based on each other’s perspective in the scrap industry.
Many of our customers have noticed the quick changes to the scrap iron market prices. I have described how far reaching effects, change global scrap markets and prices. Since August of 2019 we have experienced price swings of over $80.00 per ton. Prices have increased and decreased based on global economies. The Coronavirus is one example of an event having significant impact not only on health issues worldwide but will impact shortages for manufacturing, medical, aviation and consumer goods. As China works on its own medical issues other countries have stepped into try and gain entry into these markets and replace these supply shortages worldwide. How does this affect scrap markets? Turkey has recently increased its consumption of U.S. based scrap bringing down the overhang of scrap which can only increase prices domestically. What will the future be for scrap prices? It is anyone’s guess, but remember we live in a world that still believes in the butterfly theory.
If you have any questions or concerns regarding any aspect of what we do here, please do not hesitate to contact us.
Many of you have tried our new dispatch system which works well with portable smart phones or office computers. We would appreciate any comments you might have or any suggestions to improve this service. You are always welcome to continue and call our office at 313-934-1100, fax 313-934-2141 or use email@example.com.
Wishing everyone a warm and safe February.
T.J. Yarema 103