Scrap prices can be fairly difficult for the average person to predict. That's why the experts at Byer Steel, Cincinnati's top rebar mill and recycling center, are here to fill you in on the recent changes in the market. If you've been saving up your scrap metal for the ideal time, you're in for a pleasant surprise!

The price of steel dropped in 2015, largely due to oversupply. The cost of both production and raw materials such as iron ore had declined, so companies around the world took advantage of the situation by maintaining high operating rates. There were slowdowns in the real estate, construction, and auto industries across the globe, while metal recycling thrived.

Analysts charted a trend of steel prices falling from 2012 to 2015. Because of this, many have become accustomed to scrap prices staying at a certain level. However, the price of steel has been on an upward rebound during the early months of 2016, and it's estimated that prices will continue to steadily rise at least until 2018.

With time, the market will work through the abundance of steel, so the supply will more closely match the demand in upcoming years. This means you'll be able to get the best scrap prices when you sell to a recycling center. Of course, there are numerous factors that affect the global steel market, and while scrap prices this year may not reach the heights seen in 2008, it's more than likely they'll continue to rise, making metal recycling a smart decision.

Byer Steel is the best choice for your metal recycling needs in the Cincinnati area. Their professional recycling center negotiates the best scrap prices you'll find. For more information, check out their website or give them a call at (513) 948-0300.