Copper prices

Thanks for the graph, your linear regression plotted graph depicts what we have all noticed with scrap prices trending down. Where's the bottom, the million dollar question?

Spot price however does not effect scrap prices immediately. Must wait couple weeks and if price holds stable scrap prices will jump a little as well. Hold as of now 1 month and scrap will be up

Went to the Coin Show today and out of the 85 dealers several were selling Copper rounds, ingots, bullets. Overheard one customer saying he didn't have any room for copper in his safe and was worried about it rusting if it sat outside! Dealer said you don't have to worry about copper rusting. I don't generally pay for copper but looks like it's going for .99 oz. or $3 each for 45 cal bullets.

I expect to see some resistance at $3 and then a pullback. I think the drop to $2.48 was capitulation. If that is indeed the case, I see us on the way to $5.57 copper. Will take some years, but right now, physical seems to trump anything paper.

Jiffy- What's your pink dots on the graph? And maybe if you could put in 1 month a year (I know adding all the months would bugger up the graph good) but for a point of reference one month a year would be good if it can be done.

Many of you have seen me say 1) I scrap as a hobby- the thrill of the hunt and taking stuff apart is part of the appeal although extra cash is always good, 2) I'm generally not into stock piling, if my "allowance" is low and I need something or need to cover a payment of "mine" and have a doable load to take in, I'll do it. It keeps more domestic peace that way, and 3) I'm old enough to remember when Al cans were $.25-.30 a pound and #2 Cu was 80 cents.

With those three prefaces, yes Cu is down but its still the best priced metal for what I can find generally around here. Brass is part Cu so it tracks with copper spot and until Cu falls to the point where its close to aluminum or Al rises much higher, copper is still a good thing. I just wish I could find more of it in an easier form (don't we all). Certainly don't want Cu to drop more but it certainly could.

Most of you guys that do this full time have had to diversify in lots of ways. Probably the most success is selling items above scrap value either by directly re-selling them or doing some sort of "value-added" step after you've acquired it. All I know is that are many, many very resourceful people on this forum who are very creative in finding ways to make money. More power to ya!!!

the pink dots are my perspective of peaks and valleys, a way to visualize buy low sell high. I will try and modify it so its easier to read.

Hard to tell from pic but 30 gallon pal is half full and 13 gallon one is 3/4 full with a bit more to strip yet. How picky are your yards about paying bare bright. My old yard paid me bb on everything, but new yard wants fine stranded wires separate and pay #1 on them. Guessing I was just spoiled... I miss that place. But it will be a nice payday tomorrow regardless.

Originally Posted by TheRecycler

I have one word for you all, "patience." In our business, it's a the key.

I have seen a lot of companies go broke because of "patience". I buy today sell today. If you don't you will get burnt.

Key is to get things for the right price or for free. Also to be established enough where your not operating on the edge and can afford and benefit for holding onto stock. If have the ability to hold you only get further ahead the everyone else.

Glad I sold off a couple weeks ago, looking for good time to buy up again. Happy scrapping!

yes sir I sold last week at its peek.

graph updated 6/15/15

prices nose-diving this week. Touched 2.40/lb today. Should recover to 2.70-2.80 within a month or so though. For some time now the lows are lower and highs are never as high as previous. Not sure pattern will change much anytime soon. Where is bottom?

Coppers at $2.44 PM's slid down also
oil is $51 per barrel

Lots of volatility in all markets right now!

Volatility:
A statistical measure of the dispersion of returns for a given security or market index. Volatility can either be measured by using the standard deviation or variance between returns from that same security or market index. Commonly, the higher the volatility, the riskier the market.

Just received $2.04 for bare bright at my yard today