An Inside Look at the Current Market Conditions with Frank Cozzi Sr.
Scrap metal prices are down again in October. With exports of scrap metal down 20%-30% over the past few months and a lack of demand for new steel, prices will continue to erode. Scrap steel prices have already come down close to the $60 per ton number I mentioned a month or two ago and we haven’t reached the end of the year yet.
My phone has been ringing off the hook with calls complaining about low prices. Lower prices affect everyone. We are no happier about it than those who have been calling about the low prices. Though the prices are lower, we at Cozzi Recycling are always priced competitively and have the advantage of clean and organized facilities that make it easier for our customers to get in and out quickly.
They say the cure for low prices is lower prices. I hope this medicine takes affect soon.