Scrap metal prices are decreasing because supply remains high and demand is relatively low. In other words, there is more scrap metal available than there are potential customers. One of the main reasons behind the low demand is that the car industry is not doing well and major automobile manufacturers are considering cutting production. The decline in prices, however, is most significant when it comes to steel scrap.
In other words, It is simply the law of supply and demand, coupled with current world events.
I have to agree with Christopher and Dabossman which hurts because we make extra money scrapping and when prices are down then we don't do too good
Actually Scrap Metal Prices are increasing as of June 2011. Copper scrap prices have gone down a bit but are predicted to go up. Steel prices have also gone up.