Peter Mcavoy runs Smorgon Steel, a scrap metal recycling company with four locations across the state. One yard in Bangor has been so busy taking in metal, that sellers have had to wait in line for up to five hours to drop off their scrap.
":On average, scrap metal is going for about 200 dollars a ton these days. That means if you’ve got an average sized four wheel pickup truck that you fill with the junk that might be laying around the neighborhood, you can get three or four hundred dollars for the load,": according to Mcavoy.
He says the boom is driven by the fact that expanding economies, like those in China and India, have created high demand for metal and thus a higher price.
Mcavoy believes the value of scrap could hold for months, even years to come.