Unlikely prices will ever drop much. The USA has been top dog for half a century with a resource use that dominates the world economy on whatever scale or measure you want to use.
Thanks to videos and the internet, much of the poorer world have an image of what to aspire to...
The worldwide demand for metals and non-renewable energy like coal and oil will increase because the world population will increase. The increased demand for resources will drive prices up as the Chinese and Indians and others want the lifestyle we have here in the good-old US of A. Until recently they did not have the economic power to compete, but as they grow more affluent they will drive the prices up on everything that is produced and sold on world markets...
I was in China in 1989 when very few private cars were on the Chinese highways. Now they want cars and are beginning to have the $$ to buy them, so they need more metal and gasoline and are willing to spend more to get them. Recycling could help slow the price increases, but it is hard to imagine anything that could cause metal prices to drop very much in the future. The US population is less than 5% of the world population, but we use more than our share of world resources.
Economic theory says that over time, prices will increase as demand increases. Prices will drop only if demand drops, and that seems unlikely without a SHTF scenario, and if that happens prices will increase as well.
Have you noticed how many things you buy are from anywhere but the US of A? It takes stuff to make stuff, and a lot of that making stuff is the same metals that go into ammo. They buy our scrap metals, ship it half way around the world, make stuff we want, ship it back half way around the world, and still make enough profit to invest some of it into buying more scrap metal and do it all over again. We toss a lot of that stuff into dumps and reduce the world metal supply which increases metal prices.
Hard to believe that will change in the future. The country that buys the scrap and makes the stuff might change, but the process will happen and continue to drive metal and therefore ammo prices up.
These are/were the good old days...