The price of scrap metal will not recover in the UK in 2017 says leading scrap yard

NEWPORT, Wales - Jan. 24, 2017 - PRLog -- Yet again,it's been another turbulent year in the scrap metal business.  Many people are asking, ‘What on earth is going on with the prices?’  There is no way to just pinpoint one reason.  Several factors play into the decline in prices we’ve experienced throughout 2016-17 including exports of cheap Chinese steel being blamed for pushing down the price of scrap metal in the UK market.

The price of scrap metal is still less than half what it was in 2007-08.

"I don't think there will be a massive improvement in prices," said Charles Parsons, of RDA Recycling based in Newport, Gwent. "It seems it's never going to go back to the ridiculously high prices we saw in 2007-08. We're unfortunately having to offer lower than ever for scrap vehicles and metals, and trying to keep our costs low to offer our customers the best possible prices throughout South Wales."

He also added "Fewer people are scrapping their old cars as the price they would receive from scrap yards goes down each month, customers are holding onto their cars in the hope that prices would rise again soon. But inevitably people still need to scrap their car and, as it became apparent prices weren’t to rise again any time soon, customers have accepted that prices across the UK are at an all time low and have started scrapping them anyway"

Businesses such as http://www.webuyyourscrapcars.com will feel the hit of the price drop the most, as scrapping cars is their only niche.  Where as long established yards like RDA Recycling also offer scrapping of ferrous and non-ferrous metals as well as selling vehicles and quality used car parts.

For more information please visit: http://www.rdavehicledismantlers.co.uk