Oh by the way copper is taking a dive

I have a collection of one ounce copper coins. I just buy them because I enjoy them, and they are part of my larger coin collection. I don't expect a return on my investment, based on scrap value. My scrap copper stockpile does have me worried. I only sell what I have too. As long as I have the room I will continue to horde.

Yeah, we were just told by the boss yesterday that what we pay went down but its still over $2.00 lb but not by much. I still turn in but if it were go to something like $1.50 I'd horde for sure.

The markets guy I listen to (Eugene Graner 550am out of Bismarck ND) says that copper price is the best indicator of the U.S. economy. Take that for what it is worth.

My scrap yard is considered one of NY states largest yet nationwide far from the largest . My yard guys have told me time and time there customers are mostly China now if that be the case nationwide it's clear how massive America's natural resources are being sold off . It would seem and we can assume China is still buying but getting it lower in price at this time.
Realistically you and all of us are addicted to the scrap money . CU $1.90 $2.75 Steel $174 or $247 it's obvious we like higher priced payout
but I am thankful for even these price as I see it can go lower and lower . Steel is .7 to .9 # these parts could it go .3 .4 **** yeah this is history
as a kid 1990's if I had an old car the yards paid $65. these days yards have less customers lately (the curb hunter) the large trucks keep flowing as usual .
My feeling is - - I trust in finding more scrap more then getting stuck with product I horded 5 years ago that now keeps loosing money . I am selling off my unsightly mass . But I will keep much of my prime Copper - Brass - Lead for the future .

Cutting China off by a huge margin will put me out of business or at least put scrapping in a modest capacity . Watch what you wish for, will you lug a 200 # fridge in for $5 your perspective will change and many of us wont . For now I keep at it the prices paid are still doable . When things were hot I always knew china was my boss & paying me well ,now were getting pinched a bit.

I used to tell the students in the geography class I taught for a while when we talked about population that one out of every third person is either Chinese or Indian. Currently, the majority of the Indians don't have a lot of coin to spend but a nice minority of the Chinese do (or have had in the recent past). Same thing in the trapping/fur trade. For North American producers, there is only about 4+ countries that matter much for buying fur to be made into garments: China, Russia, Korea, and then lump the rest of eastern Europe into a single group. If U.S. trappers had to rely on U.S. and western European markets for selling our fur, there basically wouldn't be a fur market or only a shadow of its current status. Screw the fake plastic based "fur" that most U.S. women are willing to wear in fear of the terrorist PETA types.

So, yeah, as much as we love to bash China (and I've certainly done my share), we are inter-twined with them something awful and it probably isn't going to change any time soon.

P.S. Your $5 frig reference. When people can't find anyone to take such things for free or small charge, they'll find out the true cost of getting rid of their old crap!!

Originally Posted by DakotaRog

I used to tell the students in the geography class I taught for a while when we talked about population that one out of every third person is either Chinese or Indian. Currently, the majority of the Indians don't have a lot of coin to spend but a nice minority of the Chinese do (or have had in the recent past). Same thing in the trapping/fur trade. For North American producers, there is only about 4+ countries that matter much for buying fur to be made into garments: China, Russia, Korea, and then lump the rest of eastern Europe into a single group. If U.S. trappers had to rely on U.S. and western European markets for selling our fur, there basically wouldn't be a fur market or only a shadow of its current status. Screw the fake plastic based "fur" that most U.S. women are willing to wear in fear of the terrorist PETA types.

So, yeah, as much as we love to bash China (and I've certainly done my share), we are inter-twined with them something awful and it probably isn't going to change any time soon.

P.S. Your $5 frig reference. When people can't find anyone to take such things for free or small charge, they'll find out the true cost of getting rid of their old crap!!

- - Well said --- and true cost of getting rid of their old crap!! Easy to forget that concept & since the in best times pay out for 200 # is still not earth shaking so the owner of said items can make up the difference