Covid-19 has affected many industries worldwide, and including these are the scrap metal recycling industries. Most metals recycled for the scrap market have lowered their prices due to changing trade patterns. Most countries have banned export markets, and this has led to reduced prices of recycled metals. For instance, due to low economic income, the currency values have gone down tremendously, leading to an effect on them.
Consequently, the prices of recycled metals have also been affected in Australia. The ongoing pandemic has led to a decrease in construction and manufacturing activities. This has had a direct impact on metal recycling companies as the demand for their products has fallen. Additionally, many people are now unemployed or working from home, which has limited their ability to recycle scrap metal. As a result, the prices of recycled metals have fallen sharply in recent months.
Despite this, some metals have bucked the trend and actually increased in value. This is due to ongoing stimulus measures from governments around the world which have led to an increase in infrastructure spending. This has particularly been apparent in China, where demand for metals has remained strong. This has had a flow-on effect on Australia, where Chinese companies have been increasingly buying Australian recycled metal.
So, while the Covid-19 crisis has had a negative effect on the prices of most recycled metals, there are some exceptions. It is important to keep up to date with these changes so that you can make the most informed decision when selling your scrap metal.
Super Metal Recycling is a metal recycling company based in Melbourne, Australia. We purchase all types of scrap metal from both businesses and the general public. Call us today for all your scrap metal needs!
If you are at Frankston, Victoria 3199, below is the best way to visit us.
Super Metal Recycling
345 Frankston – Dandenong Road, Dandenong South VIC 3175
(03) 9706 4909
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