The average value of a "junk car" rose in November by 10% as scrap car prices continue to soar into 2022. The scrap metal market remains high as does the demand for used ar parts, making the trend likely to continue well into 2022.
Let's dive into November 2021 scrap car prices.
October Average Junk Car Price: $626
The average junk car price in November 2021 was $626. Compared to last month, prices increased on average by 10% and posted a yearly gain of 62.6%, which is an average value increase of $241! It's been a great year for junk car prices and the trend should continue into 2022.
Overall Scrap Car Price Trends in November 2021:
The latest 2021 data from Junk Car Medics shows a trend of increasing prices from January through May, when the average junk car price went from $385 to $557. Prices remained stable through July, followed by a two-month drop which brought the average price down to $459 in September. October and November both saw strong increases, reaching $626 in November, a new high for the year!
Scrap Car Prices by City:
Junk car prices can vary significantly from city to city, and November 2021 followed that pattern. Miami tops the list with an amazing average price of $2,382.18, a 20% increase from November and nearly $1,000 higher than second place Los Angeles with its $1,392.05 average. Following closely in third is Albuquerque at $1,378.00. Omaha takes fourth with $1,264.29, trailed by Brooklyn at $1210.59, Aurora at $1,187.14, Austin at $1,135.75, Atlanta at $1,046.07, and Dallas at $1,019.44. Rounding out the Top Ten is Riverside, dropping below the $1,000-mark with a $929.82 average.
Our Bottom Ten list begins with last place Salem, posting the lowest November price average of $233.33. It is followed by Stockton (380.56), Kansas City ($384.76), Fresno ($393.00), Springfield ($431.76), Dayton ($435.00), Memphis ($479.46), Indianapolis ($484.43), and Seattle ($485.00), with Oklahoma City at 10th lowest with a $511.25 average.
Scrap Metal Market Price Trends:
The prices for the four major junk car scrap metals were mixed for the month of November 2021, with some up and some down for the month:
- Steel: Shredded carbon steel scrap prices coming soon.
- Aluminum: Aluminum went from $2934/metric ton to $2636, a loss of around 10%.
- Copper: Copper started the month at $9829/metric ton and ended at $9729, a drop of just 1%.
- Platinum: Platinum rose from $1017 per ounce to $1038 by the end of the month, for a 2% gain.
(All scrap metal pricing information from ycharts.com)