Auto Scrap News: US Steel

Here at Cash 4 Cars Akron the marketplace pricing for metals such as steel, aluminum, copper, rhodium and platinum have an effect on our auto recycling junk cars segment of the business. The cash for my car industry is dependent on several factors including the market prices for various scrap, the demand for certain vehicle components as well as other things that are part of the global economy. The junk car removal business is also influenced greatly by fuel prices, since non-running junk cars, scrap trucks, SUV’s and vans (for the most part) require the cash for my car buyer to retrieve the vehicle.

John Miller posted a story on wsj.com on March 12, 2015 titled ‘U.S. Steel to Idle Plant, Lay Off 412 More Workers’ that explains how a Pennsylvania steel producer is experiencing difficulties as follows: “U.S. Steel Corp. announced more layoffs as it struggles to contend with surging imports & declining demand in the energy sector, saying it will temporarily idle one of its iron-ore operations in Minnesota, affecting 412 workers. The move is the latest in a series of retrenchments by the steelmaker as it attempts pursue a longer-term strategy of repositioning itself as a smaller, more nimble steel company.

Chief Executive Mario Longhi, who took over in 2013, has said he is looking to make more steel from scrap metal at lower cost, instead of using iron ore and coal. Benchmark hot-rolled coil prices have fallen 18% since the start of the year to about $490 a ton. Overall U.S. steel imports were 25% higher in January than a year earlier, at 4.4 million tons in January, with imports from China jumping 40% during that period to 260,373 tons. Since taking over in 2013, Mr. Longhi has aggressively cut costs & restructured operations. His turnaround plan generated $575 million in cost savings and enabled the company to swing to a profit in 2014 from a year-earlier loss. In addition, U.S. Steel benefited from the resurgent U.S. auto industry and from high energy prices before they collapsed.” The complete article is available here:
http://www.wsj.com/articles/u-s-steel-to-idle-plant-lay-off-412-more-workers-1426190510

In auto recycling junk cars we know the frustration associated with suddenly having a wrecked vehicle or car with a major repair need. Sellers seeking a “cash for my car” buyer in the Chapel Hill area, Highland Square, Barberton or Springfield Township are encouraged to call (216) 271-6464 for a junk car quote. Our junk car removal service operates in the regions of the Merriman Valley, Bath, Canal Fulton, Silver Lake and Copley. For auto recycling junk cars in Mogadore, Stow, Lakemore and Clinton—Cash 4 Cars Akron is the best option. Asking where to get cash for my car in Cuyahoga Falls, Fairlawn, Firestone Park or Norton?  We can pick up from Firestone Service Centers, Conrad’s locations, transmission shops, Goodyear stores, Midas locations, NTB locations and Monro Muffler & Brake shops. Residents of Monroe Falls, Peninsula, Tallmadge and New Franklin are encouraged to contact us for junk car removal. Free towing is included on all the junk cars and scrap vehicles that we buy in the cities of Kenmore, Green, Hudson, Rolling Acres and Coventry Township.