To the Loyal Customers of Kimmel Scrap,
Lately it seems much of our national news has been fairly depressing, between stock markets, foreign relations, domestic labor strife, it is tough to be excited. We at Kimmel see an increased downward pressure on all scrap markets. We expect to see some lower grade commodities at near record low prices. One of our current publications (AMM), which monitors Aluminum Scrap comments that these prices are the lowest since they began monitoring them in 1992.
Finished steel prices continue to decline which if you are a consumer your cost has declined but any scrap value has declined as well. From January 2019 to today prime scrap has declined $160.00 per ton or 44%.
The question asked is, if this is similar to August 2008 when scrap prices dropped by over $100.00 per ton each succeeding month till December? No, in 2008 we could not act fast enough to respond to the crisis at hand. We at Kimmel have tried to adjust our inventory to coincide with market conditions. Is it difficult? You bet but with over 70 years of experience to steal a phrase from Farmers Insurance “We know a thing or two because we’ve seen a thing or two”.
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 dispatch(a)kimmelscrap.com.
T.J. Yarema 103