Scrap metal prices are largely influenced by metal prices on international stock exchanges. For this reason, scrap prices change daily according to price changes on international metal exchanges. The fluctuation of metal prices is unpredictable and has to do with a number of factors in the international market, such as the growth rate of the global economy, exchange rates, central bank interest rates and other parameters.
In addition, metal prices are affected by the type and alloy of the metals, their moisture and foreign matter content, and the further processes they must undergo so that they can be fed to the furnaces in metal foundries.
The most important metals exchange is the London Metal Exchange , whose futures contracts have a significant impact on the prices of metals for recycling. Other important markets are the New York Mercantile Exchange (CME) and the Shanghai Metal Exchange (SXE).
