Scrap Metal Market: June 2016
Scrap Metal Market Trends Scrap metal prices for crushed autobodies continue to increase 22.52% over the past month (see May 2016 Scrap Metal Market Watch), and have grown 19.51% over the past year. In May, government incentives for steel manufacturers in China were met with a strong response by the U.S. Commerce Department, which imposed
Tesla Effect: Lithium to Lift Commodities
Lithium to Benefit Aluminum, Copper Today, battery-powered vehicles represent only 2% of the consumer market, with lithium demand for batteries at about 175,000 tons annually. Manufacturers including Tesla, Chevrolet, and Nissan have plans to expand production significantly over the next five years, requiring more lithium, which is concentrated in a handful of locations in Chile,
Aluminum Use in Vehicles Increasing
Aluminum Use on the Rise To convert vehicles to aluminum, Ford is estimated to spend $1 billion retooling its facilities in Dearborn, Michigan, and Kansas City, Missouri, said Vince Pavlak, a partner advisory at KPMG, who also spoke during the Wednesday session. Later this year, Ford is coming out with the all-aluminum Super Duty truck.1