ASM Recycling in Mobile, Alabama, pays competitive prices for ferrous and nonferrous metal scrap, but tariffs can have a direct effect on scrap metal prices. How other countries respond to metal tariffs can also have a direct impact on scrap metal sales and pricing.
What Are Metal Tariffs?
- Metal tariffs affect the cost of trade for countries importing metal products into the United States.
- Metal tariffs that went into effect on March 23, 2018, directly impact the steel and aluminum industries, with a 25 percent tariff on steel and a 10 percent tariff on aluminum.
- Most countries importing either raw aluminum or steel into the U.S. for production of other items would be charged the corresponding metal tariff.
Potential Impact On Companies And Consumers
Tariffs could impact local companies, consumers and metal processors throughout the United States.
- Companies who use metals from international companies would have to adapt to higher costs, which could prompt these companies to utilize a domestic processor for the metals they need for production. It could also cause a price increase on their products.
- Consumers could see higher prices for certain goods, such as motor vehicles, as the higher cost of production due to the tariffs is passed on to the customer.
- Metal processors could see an increase in domestic companies coming to them for their metal needs. This could increase production of materials, causing an increase in demand and driving up scrap metal prices.
How Metal Tariffs May Affect Scrap Prices
Metal tariffs directly affect scrap metal prices and market value for all major commodities in scrap, not just steel and aluminum. Scrap prices could continue to rise if domestic processors seek more scrap for processing. However, if international countries levy tariffs against the U.S. in response, then prices could go down because it would become more costly to move the metals internationally.
Why Sell Your Scrap Metal?
Scrap metal prices for all the major metals are strong right now, so continue selling your scrap materials. Drop off your metal scrap at our recycling center at 2751 McKinney Street. We also offer free pickup and hauling of ferrous and nonferrous scrap metals and electronics waste. Our clients not only earn top prices for their scrap, they also get the peace of mind of knowing their eco-friendly efforts prevent pollution and environmental harm. Recycling also conserves natural resources as materials are recovered and reused.
Contact us for details about which materials you shouldn’t be throwing away, or contact Bonner Williams at 251-470-0765 for more information on our pickup services and pricing.