31st Oct’21, Sydney, Australia: The COVID-19 pandemic affected almost all industries in different ways. It slowed down the economy and the scrap metal industry is no different. There have been certain affects on the scrap metal industry that have significantly impacted market trends in 2021. The size of the scrap metal market in Australia based on its revenue in 2021 is $2.4bn. This is expected to decrease by 0.5% by the end of 2021 due to the slowdown in all economic activities.

Here Are Some Factors That Have Impacted The Scrap Metal Market This Year.

Drop In Price Of Steel Globally:

Due to the falling price of steel globally, there seems to be a projected decrease in the profitability of scrap metal. There has been a decline in the manufacturing and construction sectors, which have had a negative impact on the scrap metal industry.

International Markets Not FavourableFor Trading:

The trading conditions have been very challenging due to the pandemic, which made international trade difficult. The demand for scrap metals thereby reduced. The exports are expected to decline for the same reasons.

There have also been certain positive impacts of the pandemic that have affected the trends in the scrap metal industry.

More Recycled Steel:

As scrap metal imports have been majorly affected, there was a need for fulfilling the demand domestically, which means that manufacturers had to turn towards recycling steel from scrap metals, which is very good for the environment in several ways. Some have even termed this as green steel.

Latest Research:

The Global Market Insights report for 2021-2031, indicates promising opportunities for scrap recycling as well as suggests an increase in the size of the market. It is also stated that the global scrap metal demand is expected to reach almost US$60bn. The market is said to be recovering and is expected to show a growth rate of around 5.5%. The study has a detailed explanation and report of market trends, impact of the pandemic and future opportunities. The study analyses crucial trends that are currently determining the expansion of the market. The report provides an explanation of market dynamics such as drivers, restraints, and opportunities for key industry participants as well as key stakeholders, as they emerge in relation to scrap metal recycling manufacturing.

E-Waste:

Large amounts of e-waste are being dumped into landfills, as technology keeps growing and the demands for latest gadgets increase. These electronic items can be a good source of metal recovery. Therefore, some countries are considering the recovery of metals through management of e-waste.

The Automotive Industry And Scrap Metals:

The construction and automotive industry require large amount of metal. The availability of earth metals are not as high as the demands, the mining costs are also very high, that is why it becomes important to recycle scrap metals to meet these demands. The automotive industry highly dependent on recycled metal, as steel makes up most of the vehicle. Using recycled metals help in the conservation of energy and natural resources. The automobile industry makes up almost 60% of the scrap metal demand. This also helps in reducing pollution as well as the carbon emissions.

Metal Force Recycling is Sydney’s most reliable cars for cash and metal recycling company that helps you recycle your scrap cars and scrap metal in the most environmentally appropriate manner. You can sell your scrap car and make good cash out of it. You can be sure to get the best possible value for your scrap. Your car is purchased and is then dismantled completely. The parts that can be recycled and reused are removed and resold or reused. The car’s body is then salvaged and shredded to smaller pieces. These pieces are then recycled and the metal is recovered. This process can be repeated multiple times without causing any change in metal properties. As for selling scrap metal, the rates are already provided on the website and the final price is determined on the weight of the metal. Top-notch weighing technology ensures that the weight is measured accurately in order for you to get the best price value. The metal is first examined before accepting it for sale. You can contact the company for more information.

About The Company

Metal Force Recycling is a scrap metal recycling company based in Sydney. They deal with all types of ferrous and non-ferrous metals. They offer a wide range of services including cash for scrap metal, scrap metal pickups, service bin deliveries, cash for unwanted cars and car removal services. Over the years, they have mastered the trade, and created protocols that need to be followed during metal recycling efforts. Their vision is to reduce waste that ends up in landfills by 65% every year in Sydney.