Get a Cash Offer to Junk Your Car Now
Free Towing, Free Offers, Zero Hassle or Obligation!
Scrap metal prices vary on a daily basis and the market can be pretty volatile. In 2020 things were going OK until the Coronavirus hit. Since, the scrap metal market has tanked with most steel mills limiting their operations and some even closing their doors for the time being.
The price of scrap metal greatly impacts your car's scrap value because scrap cars get pulled of their parts and then crushed down and sold for their worth in metal.
With more than half of your car's weight coming in the form of metal you can see why this is a big factor.
However, just like the stock market, the scrap metal market fluctuates daily and can be pretty volatile. Outside noise from China often impacts it and things just haven't been the same since recent regulations have been implemented and the decrease in exported steel.
To find out the current price of scrap metal, particularly steel and automotive scrap, you can call your local metal recycling center (or steel mill). If you live in the northeast Upstate Shredding and Weitsman Recycling is a great place to check as they tend to set the market in that area.
Here are a couple of good places to check what general rates are in the United States: