According to the World Steel Association the demand for steel will hit 1.34b metric tons in 2012, a 5.4% increase from 2011 which will mean an increase in the metal scrap price paid in large cities such as Phoenix, Arizona. I Buy Scrap Recycling, a Tempe, Arizona based scrap metal recycling company reports that the demand increases will come from Brazil, China, European Union and even the US, though at a slower rate. Other international markets that help fuel an increase in metal scrap prices such as India will also see noted increased demand perhaps up to 13.6% next year.
Japan who has been a major buyer of scrap steel over the past few years demand will likely slow due to its appreciated currency and weak construction markets.
While demand numbers appear positive, metal scrap prices have trended lower in recent weeks. According to I Buys Scrap Recycling, prices should hold steady and should start to see an upswing in the months ahead.
For more information on Metal Scrap Prices, Metal Scrap Prices Phoenix, Metal Scrap Prices Tempe, please go to http://i-buy-scrap.com/faq
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