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After three months of little variance in the national scrap metal market we see the largest change since April. The average price for crushed autobodies dropped nearly 5% from our October report. Even with the month to month drop in value, the scrap metal market still sits over 25% higher than this time last year. While scrap prices may not increase to close out 2017 we should still see an improvement over last year. Compared to November, the price for recycled steel from used cars was about 20% lower at the end of 2016.
With values across the country are now at their lowest point in 2017 since the first quarter it would be no surprise to see each individual zone reflect the same diminishment in value. However, if you look at Zone 5 (Southeastern U.S.), it decreased 11%. This after 3 consecutive months of decreased values in this zone lands it at its lowest point in 19 months. It seems as though the influx of scrap hitting recyclers from the hurricanes may be negatively effecting these regions. Oversupply is putting negative pressure on the scrap metal pricing throughout the south.