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Understanding the Scrap Market Overseas 1.0

Residents with junky cars in Bedford, Berea, and Tremont should reach out to our buyer of junk cars. We are here now in Warrensville Heights, Reminderville, and Geauga County to provide you a fast junk car quote and cash for your car. Unwanted vehicle owners in Wickliffe, Macedonia, and Aurora should reach out to our salvage car buyer. If your car is broken down in a state of disrepair in the regions of Westlake, Shaker Heights, or North Randall, contact us today for information about how to sell a junk car.

Sending Scrap to the Far East

A recent article by The Institute of Scrap Recycling Industries (ISRI) titled ‘Troubleshooting Trade’ explained the following: “China was a relatively small player in the international scrap market until the 1990s. They were estimated to have been importing roughly 200,000mt of U.S. scrap annually. It is uncertain how much (if any) they may have been importing from other nations. Si Wakesberg, the Bureau Chief for Scrap in New York correctly predicted that as the Chinese industrial base formed, so would their insatiable demand for recyclables. By 2000, the country was bringing in 3.4 million mt of material and it reached a peak in 2011 of approximately 22.2 million. Back in the U.S., a new challenge emerged as the Chinese government began constructing regulations that sellers must adhere to including a vague licensing requirement.

New Dilemmas in the Junk Market

For reasons that not certain, the licensing process was not transparent and the majority of recyclers were uncertain exactly how to proceed. Moving ahead to 2008, the market began feeling the effects of the “great recession”. The buyers abruptly began cancelling orders, or offering significantly less for the product. Unfortunately, many loads of material were already in containers heading to the country at the time. On the bright side, this forced many suppliers to develop more secure trade policies with China, such as making large deposits in advance of shipments. In 2013, the county introduced Operation Greenfence, which sought to scrutinize imports in hopes of lessening junk and waste that was mixed in among the loads of scrap. While suppliers began to better focus on delivering “pure” loads of product, the market began experiencing a problem with widespread theft. With help from various agencies, this problem only lasted for a short time.” To read additional information on the topic, visit this link.

As an established buyer of junk cars here in Solon, Walton Hills, and Brooklyn, we take the proper eco-friendly steps forward. Are you seeking a junk car quote for your old clunker in Streetsboro, Fairview Park, or Bentleyville Village? Are you still holding on to that old car in Mentor, Willoughby, or Lyndhurst? Our salvage car buyer is standing by. Those looking for a spot to sell a junk car for fast cash in Ohio City, Highland Heights, Maple Heights, should call us. Recycling reduces the pollution associated with manufacturing processes in Northeast Ohio.