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Scrap Prices Still Down

The overall price for a junk car is forecasted to remain low in the short-run in Bedford, Berea, and Avon. To scrap a car in Cleveland, you should call us at (216) 282-JUNK today. We are experienced at scrapping cars 6 days a week throughout Geauga County, Macedonia, and Aurora, OH. Those in Westlake, Shaker Heights, or North Randall, seeking vehicle scrap services are in luck! Are you one of the many people in Solon, Walton Hills, and Streetsboro wondering how to sell a junk car?

An October 11, 2016 article in Recycling Today says as follows: “The World Steel Association released its Short Range Outlook for 2016 and 2017, forecasting a 0.2% increase in steel demand in 2016, following a dip of 3% in 2015. In 2017, the organization thinks that global steel demand will grow by 0.5%. T.V. Narendran, chairman of the Worldsteel Economics Committee thinks the steel industry remains tough, with uncertainties fueled by geopolitical items in many countries. The weakness in overall investment continues to stifle growth. A better-than-expected outlook for China, along with some growth in emerging economies, will aid global steel to move back to a growing pattern. This slow growth will remain weak for now from to the continued readjusting in China and slow recovery in the developed economies. He says downside risks to this forecast are from high corporate debt & real estate markets in China, Brexit uncertainties and possible continued escalation of instability in many regions. Demand in the emerging economies (excluding China) will accelerate to show some growth in 2017 due to the resilient Asian countries and stabilization of commodities. In the developed world, low interest rates, and private investment is weak with a pessimistic outlook on demand. To aid confidence, governments have only limited monetary & fiscal policy tools to boost investments. In many developing countries, weak commodity pricing, political tension & highly leveraged sectors all add up to slow things down. Chinese GDP evolution in 2016 will be at its lowest point since 1990, but with a higher contribution from services & consumption. Their government issued stimulus measures for infrastructure spending, real estate and auto sales. Steel demand decline in 2016 will be less severe predicted. The rebound in real estate is unsustainable, as inventory levels are high and apartments are increasingly too expensive for most. Construction continues to hurt steel demand, and manufacturing has only slight room for recovery. Steel demand in China is projected to dip by 1% in 2016 and by 2% in 2017.

After 2 years of contraction, steel demand in Brazil will begin a recovery in 2017. Oil prices helped to sustain the decline in Russia and prevent further decline of the Mexican, South American and GCC economies. Low & unstable oil prices and political friction are continuing to undermine the outlook for the MENA (Middle East North Africa) region. India’s steel demand is likely to grow in 2016-2017 backed by reforms and infrastructure investments, but its long term performance is under question the government. The overall U.S. economy continues to exhibit strength, steel demand in the U.S. is not growing due to a strong dollar, which hinders manufacturing sector, and the difficult shale related investments. Japan’s steel demand growth is light in structural issues & negatively affected by the appreciation of the yen after the U.K. referendum.” The article is available in its entirety here.

What is the price for a junk car?

Did you know that you can scrap a car in Clevelad with only the title and an ID? Our process of scrapping cars in Bentleyville Village, Mentor, and Willoughby, is focused on environmental practices designed toward recycling. The current disaster in the vehicle scrap market in Lyndhurst, Ohio City, Highland Heights, has been quite widespread. Residents in the areas of Maple Heights, Middlefield, and University Heights, wondering how to sell a junk car should call our cash for cars buyer.