If oil prices are so low it will affect the overhead, driving those prices lower, and then from there the scrap prices will start to take an affect. There will generally be a bit of a hangover affect because some of the materials that are needed will need to fill higher priced orders, but the overall picture will make sense because of the scrap prices.
For those who scrap metal often, they may try to figure out all the factors that influence pricing. Using oil prices to do so is not always the best idea. In the last 10-15 years the markets have changed so much. And because of other factors, its hard to directly correlate the price of oil to the price of scrap metal.
Looking to have Second Street Iron & Metal take care of your scrap today? Contact us now to get your junk off your hands!