Prices are going to be down way down next month. Any gains made in August and Septembers sideways or down market are going to be wiped away. No one is going to buy next month or buys from the mill will be minimal. Get your steel scrap in as fast as possible. Heck I would take it in 2morrow before the mill orders for the month are filled and they drop the price at the scale. Just a heads up and good luck you are gonna need it.
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i saw a two cent drop today from the weekend on light iron. thanks for the heads up.
We're the renegades of Junk!
Metal Recycling Entrepreneur
Thanks for the doom and gloom.
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You suck pistonescrap...thanks.
Metal Recycling Entrepreneur
Your advice is greatly appreciated.
Metal Recycling Entrepreneur
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#2 Bundles on the Chicago market have dropped $10.00/GT this morning. BUT clean auto cast went up $10.00/GT.
Metal Recycling Entrepreneur
It is a bit early to start making those assumptions. Look at this month. All indicators pointed to an up market right up until a few days into the month. That being said...yes it does look like the market right now could be down $40-$50. I would recommend getting in any iron ASAP. This market is quite the anamoly because usually ferrous and nonferrous trend together but right now nonferrous is through the roof and copper is at almost a 6 month high.
I haven't been wrong yet. I am not saying I am going to be right or wrong just repeating what I have read and heard. Key you and I both know when mills need feedstock they can up there prices at a moments notice will that price hold I don't know I don't hold the cards. We have seen months were shred skyrockets and busheling plummets. The markets have been upside down a few times already this year in certain markets. Cleveland and STL being two that I can vividly remember this year where bush was worth less then shred. The market has been anything but normal these last few months. Wild swings in prices and mills pulling all the punches they can to lower the price. AMM isn't always spot on with there prices either. They do a ton of research though and I commend them for that.
Experienced Scrapper
My price just got dropped $15 a ton without any warning. That really bites on the 17,000lb I just sent in.
Rural scrapper
D'oh ! That's gotta suckOriginally Posted by diesel
Alvord iron and salvage
3rd generation scrapper and dam proud of it
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PSP, what mills are you talking about, USA mills or over sea's mills. I just brought a load of shred to the yard today and the price was the same. But where I live all the yards ship over sea's. I don't know if that makes a difference or not. Just saying.
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$175 ton for shred/white goods here in kansas city, i haul shred once a year during the summer when demand is high, we decided to skip hauling this year because prices have been below $200, i will have 20+ tons ready to go next summer, can fit 3 cars on our 24ft trailer plus a good load in the 8ft bed for about 4 tons per load
Was I right or was I right? Its a trick question by the way. Prices will be down 30 to 40 bucks for next months market. Can't say I didn't warn you about 9 days ahead of time.
Metal Recycling Entrepreneur
Thank you PSP. $30-$40 is a LOT of drop. Holy crap.
Metal Recycling Entrepreneur
There should be a thread just for this.. I missed this thread and now missed the opportunity. If there was one thread for the key people in the bigger yards to post in then it would be easier to track. Thanks PSP, you should give the same warnings about price increase too!
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When you get logged in just go to the upper left and hit the "what's new" button and it will bring up all the threads that you have not looked at for the day.
P & M Recycling - Specializing in E-Waste Recycling.
If you enjoy your freedom, thank a vet.
Metal Recycling Entrepreneur
Things are pretty tight and a lot of competition as it is, starting to think I need to get a job. Getting burnt out on scrapping maybe a job and scrapping part time will work out a little better. F This. LOL
Metal Recycling Entrepreneur
I do, but I don't always get on here every day so if there isn't a new post in the thread I miss it. It was just a thought. Worked well for the gustavus thread making it easy to find all of his new interesting posts lol.
If I had of seen PSPs prediction early enough I would have tried to ship a couple hundred ton off before the drop, which happened 3 days later for me. Seems to be right every time.
Last edited by myekem; 09-30-2012 at 01:58 AM.
You were right
Hmmm are you talking about something like throwing all my threads together and and calling it PSP's Price prediction or something along that line. I would find with that. I could update it every month. I pretty much always ask people in this industry what the prices seem like they are going to be next month. I can pretty much tell though just by the orders booked for the month what the next month is going to do. Light months are when the prices are down. Heavy months the price is up. Most mid to major yards won't sell when the prices are dropping. They will ship the minimum and then ship heavy when the prices go up. The mills honestly should stop trying to put down pressure on the price. When they do they make the price drop they only get 60 to 70 percent of the scrap they need to melt for the month. Then when it gets toward the end of the month and they realize hey we don't have enough scrap to melt we better raise the price next month so we can get our orders filled or we are gonna be screwed. They then have to raise the price to bring in more scrap. Usually when the price goes up and down like this year has its hard to predict what the mills are going to do. I have been pretty spot on though. I was talking to someone the other day and they already said next month will be light then they will ship heavy again in November because the price has to go back up. Scrap yards are going to stockpile next month then wait for the price to go back up in November. I usually start asking questions about what next months market it going to be right around the 15 of the month because you can look at export prices whether they are sinking, sticking, or falling and pretty much tell which direction the market is gonna go next month. If the mills were smart they would keep the prices from one month to the other even so there isn't so much sea saw action in the market. 30 to 80 dollar swings seem like the normal now. I can remember when a 5 to 10 bucks would be a huge swing in the market back before 02-03. Now there is big big big money lost or made each month. Feast or Famine.
Last edited by Mick; 09-30-2012 at 06:16 AM. Reason: spelling
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