Vehicle Scrap Prices Tumble

Barberton Junk Cars is where to scrap a car in Summit County and we will junk a car in Medina, Copley or Kenmore. To sell your scrap car the first step is to get a price for a wrecked car or damaged vehicle. Our next article is critical to the auto scrap and recycling industry and is very surprising and discusses the recent continued drop in commodity pricing. Commodities are identifiable in that they typically are a product of agriculture or mining, a mass-produced unspecialized product and/or are useful and have value. On July 24, 2015 Bob Bryan with businessinsider.com posted a story titled ‘Why everyone blames China for slumping commodity prices’ with the following details: “The Chinese economy is in a serious slowdown. On Friday, we learned that small and medium-size manufacturing firms in China are struggling. That’s bad news not just for its trading partners and global manufacturers, but commodity prices too.

Metal prices are at multi-year lows. Gold hasn’t been this cheap in 5 years. Copper, nickel and aluminum all hit or got close to 6-year lows. The reason for this is China uses massive amounts of these materials. China currently accounts for nearly 1/2 the world’s demand for copper, nickel and aluminum. The market for iron ore, the price of which has gotten destroyed this year, is dominated by China with nearly 70% of seaborne and close to 60% of global demand coming from the country. Steel, of which China accounts for between 40-50% of the world’s demand for has seen production tumble. China has needed massive amount of raw commodities to build out the infrastructure in its booming economy. Read more: http://www.businessinsider.com/why-blame-china-for-low-commodity-prices-2015-7#ixzz3grIJMfIR

Next we review a July 21^st article on cnn.com titled ‘What’s behind the falling prices of oil, copper and gold’ with the follwing details: “Why are these commodities tanking? There isn’t enough demand.” The article goes further citing that China, which is the fastest growing country, has seen their growth slowed. Companies increased production which has resulted in an abundance of supply. The dollar recently has been strong compared to other currencies due to economic problems. When the US dollar gains value, then the relative price for US commodities are essentially more expensive. The full article is available here: http://money.cnn.com/2015/07/21/investing/commodities-prices-gold-oil-copper-aluminum/

Barberton Junk Cars is the best choice to junk a car in Medina, Fairlawn or Tallmadge. We provide a fast price for a wrecked car, a scrap car or non-running vehicle right over the phone. Making the right decision of where to scrap a car is simple—just call (330) 732-JUNK for a price for a wrecked car or vehicle in need of a costly repair. To sell your scrap car for cash may be the best option when faced with an expensive repair on a car that is 8-10 years old already. The requirements to junk a car in Medina, Kent or Cuyahoga Falls are that you possess the vehicle title and an ID. Our “junk car quotes” is the first step to sell your scrap car and is the phase where you receive a quoted price for a wrecked car or junk auto. The next time you consider where to scrap a car for cash, consider BJC, as we provide same-day pickup (towing) of your vehicle plus cash for the car. We pay cash on the spot for scrap auto, junk vehicles and old cars. Our new junk car removal service area includes Summit County, Medina County, Portage County and northern Stark County. Selling a scrap car doesn’t have to be difficult!