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Super storm Sandy has not failed to put down its impact on the scrap market to boot

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by - 11/7/2012 6810 Views

Although the US scrap metal Industry is likely to face tapering flow for now, once the country is back into the game an augmented flow in the scrap industry is sure to find its way articulates the market sources.

Sandy –embellished as super storm set US and Canada upside down last week evacuating some areas. So what has this got to do with the scrap industry? Yes! Sandy has played key role in the US scrap industry too. US scrap metal industry though not for a long time but unquestionably are now experiencing a constricted flow. Once Northeastern US coastal areas are back to their normal life and the most importantly once the power is restored consistently the scrap industry too will flourish.

Why is it forecasted that the scrap market flow would not be usual?

Lack of fuel and power dearth has forced shredders and scrap yards to shutdown. "At this point the storm won't generate a lot of scrap," says scrap sources from East Coast. The sources also revealed that it will take a while to get in track.  Hence, there will be scarcity of scraps in the interim. In contrast, the anticipated scrap market partakers too don’t expect any scrap for this month resulted from the storm. As the industry has also faced the effects of Hurricane-Katrina, this time to they say that the shattered cars will take a long time to reach the market.

It is estimated that about half million of scrap vehicles were generated after the Katrina storm. But this would not be the right time to estimate as to how many tons of scrap vehicles would be generated by Sandy as the show is not yet completed.

Scrap yards have reported concern as the insurance claim issues too have slowed down the market flow and there is substantial drop off this week in comparison to week ago.

Category : Metal

Tags : metal scrap, US scrap market


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About Sangeetha Pillai

Stepping into this world on 24th August, I am the younger daughter of my parents.  I did my schooling at Sacred Heart Convent High School in Hubli (Karnataka). In a perplexity of deciding my higher studies I finally consoled my mind to go with Civil Engineering. Although my ac .... more info

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