Have you seen the price of the metal market right now? It’s crazy! 😱
The cost of metal is very low. Imports are up (87% YTD from 2018) exports are down (-22% YTD from 2018) and Canadian production of steel continues at a high rate. All of this leads to the fact that Canada is facing a steel surplus.
According to the daily Le Devoir of November 5, 2019:
“The drop in steel prices is due to a variety of factors, including lower demand—due to a weaker global economy—and a surge in production in the United States after the introduction of tariffs. In the first few months following the enforcement of the tariffs, steel prices increased to $1,006 US per metric ton of hot-rolled strip steel in July 2018, according to the Steelbenchmarker website; today, this steel sells for $557 US a ton, less than before tariffs were put in place.”
What does it mean?
Well, it’s good news for any company in need of steel. Steel prices are very low and there is a surplus. So now is the absolute best time to buy. The best way to buy is through BizBiz Share. There are companies, on our Marketplace with a surplus of steel. You can buy from them for a much better price than if you were to buy from the source. Plus by buying from a neighbour you may see a reduced transport cost. Something to consider!
The concept is simple: companies post on our Marketplace, offering their surplus resources available for purchase. From your computer, with just a few clicks, you can buy and secure transport at a much lower price than the current market price!
To make a transaction on our Marketplace, create an account by completing your business information, choose your subscription and make your first transaction.
Here are our various subscriptions:
If you have metal or other raw materials to sell, post your ad on our Marketplace and create additional income!