Why am I breaking down steel?

I ask my self this question. I have scrapped 2560 lbs. of steel this year and made $99.99 on it. Yes that's $.04 lb. avg. Sheet iron is $.0225 a pound so I am not making that much more by breaking it down. I do take fewer trips to the yard as I hold on to the prepared steel until I have a full load. If I get a fridge or other large item I break it down some what and add my other sheet iron to it. Every time I go to the yard with steel I think about the days of $.115 a pound for sheet iron! Those were the days...

Feeling the pain. About 50 tons of #1 is on the ground and close to that amount in # 2 and unprepared. Shed full of non ferrous is worked on everyday. Still cutting and scrapping, just not selling. When you have the storage and time, it does not make sense to sell.

So why do I still cut, prepare, and scrap. It is entertainment, freedom, and goals. I am betting Happy Days will return before I am recycled. By the way, I have not made one cent this year scraping. At the same time it is cheap entertainment.

Light irons at 5 cents a lb here. For a fridge(compressor and anything worth more removed), trash bag full of restaurant size steel cans, a little grocery cart, and 2 little grocery store bags of small steel items from breaking stuff down plus a few other random small pieces I got $7 :/

Originally Posted by Patriot76

Feeling the pain. About 50 tons of #1 is on the ground and close to that amount in # 2 and unprepared. Shed full of non ferrous is worked on everyday. Still cutting and scrapping, just not selling. When you have the storage and time, it does not make sense to sell.

So why do I still cut, prepare, and scrap. It is entertainment, freedom, and goals. I am betting Happy Days will return before I am recycled. By the way, I have not made one cent this year scraping. At the same time it is cheap entertainment.

Have to agree here. I still do sell a lot of lighter stuff that comes in (dishwashers, etc), but am hoarding the heavier more compact stuff (water heaters, etc). Working full time I am limited on the time I have to take stuff in, so I take the lighter bulkier items in, hoarding the heavier steel. When prices recover about half way or so (and I think they will), I will take a couple of vacation days and take in about 10 16ft flatbed trailer loads I have accumulated.

Yeah CH, I saw that 60 Minutes story as well. Where did the US screw the pooch on that one???

I went to the steel yard this morning for the first time since October with a trunk load, partly to please the wifey, partly because I had other business nearby. They say they're still planning to open their much larger and modern yard that's about 3 miles or less from me in May.

It didn't seem any less busy than any other Sat. morning (they're open from 8-11 on Sat.) and the piles didn't seem too much less. Because I have so little and I tend to be a bit intimidated with all the other bigger rigs in a fairly tight place, I stay near the entrance where they have a dumpster a guy can throw small loads. Maybe a reason for the steady business is this is the only place in 70-100 miles that buys steel. Maybe people that do shred grit their teeth from it dropping from $115 a ton last summer to $40 today and grin and bear it. Don't know. I do look forward to their new close by, very spacious yard opening. One less reason going to the other side of town...