Effect of COVID 19 in the Steel Scrap Market
The COVID-19 crisis is wreaking havoc on the scrap industry. The recycling market is one of the primary sectors that will be impacted by changing trade scenarios in various countries. Because the scrap market is heavily reliant on metal prices, economic stability is a critical market growth determinant. So the changes in the government policy and global commodity markets are expected to have a significant impact on the steel scrap market. People are spending more time at home due to the pandemic, and the amount of waste is increasing due to the increased use of single-use products. People have begun to buy more for personal consumption. Metal resources are scarce in all of the countries. Because the scrap market is heavily reliant on metal prices, economic stability is a critical market growth determinant. Metal and scrap industries were among the first to feel the effects of the pandemic. Over time, the scrap recycling industry has experienced volatility. The cost of purchasing ...