In 2004, my husband and I decided to follow in the footsteps of hundreds of people in our Spartanburg, South Carolina, area and get involved in the scrap metal market. At a time when metal prices were at an all-time high, there were tons of property funds to be had for seizure. This, I believe, is why there were so many who took up the matter. After I made the decision to buy a little metal, we put a little bit of money up, in We were hoping to purchase a one ton truck suitable for transporting large quantities of automotive engines, transmissions and parts.
The little metal thing is really simple. All you have to do is junk yard, junk yard, salvage yard, and pretty much any other junk yard we have for sale. and I will buy it at a discounted price, then turn it around and sell it to the buyer at the highest profit. I’ve seen days when my husband would buy a junk truck for $500.00 and sell it for almost a 60% profit. We did so well, we were able to invest in another truck and hire our first employee all within the first year. Our gross income for the first 6 months was $40.00 dollars. We know that after a mere 5 years, he would drop out of the big market, turning our my gold aluminum into 2 cents not worth.
Around the middle of 2008, local metal traders began to note that prices in the materials were beginning to drop. At first, no one really cared, because prices on scrap cars tend to fluctuate on a regular basis. However, when we began to see our prices for our materials begin to drop with no end in sight, we quickly became concerned. Finally, around January 2009, precious metal prices hit an all-time low and stayed there. As a small metal business we rely on buying scrap from others to resell, iron scrap is a high demand item as it is required in new steel making and manufacturing and casting steel products.
But when the prices we get when we sell stuff are so low we can afford to buy something from junk dealers, of course they don’t want to sell and take a loss, so they cant resell because there is nothing. to buy Its perpetuity is vicious, and consequently it does not move. People have to hope that the prices of the material will soon go up. But we still have a business to run, even if the prices have fallen, we need to find something to buy. because we still have company bills, expenses and employees that need to be paid. Our business is fluctuating, we barely make enough to open the doors, and with the economy in shape today, there is no end in sight. It’s a look. The Milwaukee Police Journal reported that the price of primary scrap steel dropped from $430.00 per ton last November to $150.00 per ton in June. As things have happened to us, we are one of the lucky few who will remain in business to open our doors. There are many companies in our area and others that have had to close because of the decrease in the price of a small car.
A hundred years ago there were very few metal traders to compete with. Now there are a few who still compete to buy a few minute by minute here and there; hoping to get those two lions. No one has any answers as to when the prices on scrap cars will start to rise again.
So all we can do is struggle to achieve, as we hope to find a machine or transmission to purchase and resell so Write our bills. All of us, praying, can stay in business long enough to clean up the economy and come back to us. We introduced ourselves in 2004. Steele is a vital trade that relies on the production and manufacture of many elements. So that everything that is commonly needed is available at the demands and prices that are today, just not doing it. But it is necessary to force many family owned businesses to close there doors for the last time. The business is raising unemployment, forcing families into poverty, and in some cases, driving people who have spent their whole lives in the small metal business and depend on it for survival, to the point of despair.
