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US Auto Scrap Agreement

US Auto Scrap Agreement

Here at Cash 4 Cars Akron we are navigating through a difficult time in the auto recycling junk cars business. The market is currently offering the lowest ‘cash for my car’ quotes due to dramatic declines in the commodity markets. Experts that have traditionally endured the cyclical nature of the buy my junk car industry are optimistic that prices will rebound. The primary culprit in the regression of the auto recycling junk cars market is the price of steel, which has continued to further erode. Aluminum is being increasing used among auto manufacturers such as Ford and the buy my junk car recyclers are hoping that aluminum doesn’t follow the lead of steel downward. The US and China are supposedly working together to ultimately decrease consumption of China’s “carbon producing” aluminum products that has a negative effect on the environment. I’m not sure if this report from the White House is much more than the administration simply creating positive public relations or not. In an October 09, 2015 article by Kirstin Linnenkoper titled ‘China and USA agree on green goals’ on pointed out the following: “The US-based Aluminum Association (AA) has commended the joint statement by American president Barack Obama and his counterpart Xi Jinping which details their plans to ‘strengthen bilateral co-ordination and co-operation, and to promote sustainable development & the transition to green, low-carbon and climate-resilient economies’.

Both presidents have expressed intent to address the reality of sustainable practices in the coming years or by 2030. China’s goal is to reach 50% ‘green’ constructions by 2020. If the US-China mission is successful, China’s new cap & trade system should provide incentives for carbon-intensive aluminum in China to be phased out. AA adds that China supplied roughly half of all demand. China’s tax system provides incentives for export of its carbon-intensive production which has ‘displaced sustainably-produced US aluminum, the AA points out. The US aluminum industry has been part of the solution to ecological concerns. For one, the increasing rate of recycling is saving energy in the packaging market. Also, car manufacturers are using lightweight, military-grade aluminum to help achieve greater MPG.” The complete article is available at this link.

Aluminum Market[1]:
April 2012: .92
June 2013: .85
August 2014: .90
October 2015: .71

The above market pricing for aluminum illustrates that aluminum’s value has been relatively strong compared to the plummeting market prices for steel. The progress between the US and the Chinese has good intentions. Whether or not China is committed to reducing their production of high-carbon based product seems to be questionable. In the long term, the environment would benefit if China moves in the right direction; however, it would be long until China maintains or increases their 50% market share. The Chinese will likely transition to simply producing and exporting product with a lower carbon footprint that will still have a superior pricing advantage versus US produced material. On the surface, it seems that the US lacks leverage on this issue.

The business of auto recycling junk cars is inherently linked to the commodities markets. Wondering if someone will buy my junk car? Asking where to get cash for my car? The answer is that Cash 4 Cars Akron is a “cash for my car” junk vehicle buyer. C4C is the solution for selling a junk car, truck or SUV. Get cash for your old car in Summit, Portage and Medina Counties 6 days a week. When you scrap a car for cash in Cuyahoga Falls, Firestone Park or Kent, we include free same-day junk vehicle towing. During the week we are available to provide you a price quote for a scrap car or a junk vehicle from 8AM-5PM and on Saturday from 8AM to 3PM. Get cash for a damaged car, wrecked vehicle or non-running car today by contacting out junk car buyer at (330) 271-6464.