How Will Scrap Be Affected? What will happen to the scrap metal markets with the end of the 2020 US Presidential Elections. That’s what we were thinking when Joe Biden was declared the winner of the 2020 Election. It might not be the first thing that comes to mind – but it was pretty close to the top of the list. Below, we’ve put together a few ways the Biden Administration can affect scrap prices across 3 major industries and plans.
New Infrastructure and Construction
One of the things we’ve heard from the incoming administration is the pressure to work and improve the country’s overall infrastructure. How Will Scrap Be Affected? That means we’re the highway that replaces new guardrails, new bridges, and all kinds of other things. This will increase demand for steel and iron as larger projects are supported, promoted and planned. There may also be a small increase in aluminum demand as these larger projects are planned.
Electric Vehicles Are Increasing
With the massive push for green energy and clean energy, we will start to see the next administration focus on building more charging stations for electric vehicles across the country. More electric vehicles mean that the power needs and amount of energy from charging stations will require large amounts of copper flow. This is great news given that many markets are reducing copper users as new technology (like aluminum wire replacing some copper wire) is taking over. On top of that, we’ve seen various automakers expand their electric vehicle lines. Some are talking about new electric pickup trucks, SUVs and other smaller electric cars, all of which will require more copper.
What is Gas, Wind and Solar Energy?
We don’t have a good pulse on where the long-term oil and gas industries are headed. In the short term, we know that high demand continues to come to the oil industry in the second half of 2021 and beyond. As the electric vehicle market continues to press, a lot of growth will be required to replace our current energy industries such as oil and diesel. Meanwhile, you have thousands of tow trucks transporting goods across the country that will continue to be petrol or diesel powered in the near future and will always impact the oil industries.
Where Else Will Scrap Be Affected?
With the push for electric vehicles, we plan to see oil prices take a roller coaster ride in the months and years ahead. One of the biggest things that will lead to these price changes will be how the steel market has changed over the same time period. Going into 2021, we’ve seen iron ore prices rise to almost all-time record highs, but while the pandemic is still going, a vaccine is rising and different economies are shifting there, we’re not sure where the market is. 2021. These different materials will go from here.
Investors Say 3-5% Increase for Copper Scrap
When it comes to copper markets, we know that most people don’t follow what investors are talking about very closely. However, we know that there are different fluctuations in the markets depending on how investors perceive the economic environment. One of the things we’re seeing is a massive metal impact, with copper demand increasing 3 to 5% year-over-year over the next few years. Now, these estimates are often taken with a grain of salt, as we see copper working by the end of 2020. But to make a better decision, we need to see where the economy is heading after the New Year’s return.