Can you believe how much commodities have taken a pounding this week? Gold,silver,copper,aluminum,lead,nickel,zinc and so on. Feeling down but not out as I'll just hold on until they rise again.
Metal Recycling Entrepreneur
Metal Prices Hammered
Can you believe how much commodities have taken a pounding this week? Gold,silver,copper,aluminum,lead,nickel,zinc and so on. Feeling down but not out as I'll just hold on until they rise again.
Experienced Scrapper
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im heading in tomorrow and ill let you know what i get for prices
Metal Recycling Entrepreneur
I hope your going just to get prices and not bring in your metals.
Experienced Scrapper
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sadly, bringing back my metals. how far have they gone down?
Metal Recycling Entrepreneur
Al = $1.17 /lb Cu =$3.99 Pb = $1.05 If you really need the cash otherwise wait it out.
Experienced Scrapper
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oh yeah ive been watching the LME too. i was wondering what the yard gave you..
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The story at the yard tomorrow will tell. this could be interesting. At least the price of oil is dropping with it. All of this stuff moves in tandem.The resulting scrap prices and fuel prices don't move that way unfortunately. The resulting drop in our scrap going in will probably be affected immediatelly, while the downward tun of oil price usually takes weeks to be seen at the pump.
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I just went and studied trends. We go through this every year about this time. The Business News commentators are hyping it up. What I've done the past couple years is to hold the copper, brass and most of the #1 iron. I'll haul in some Light Iron for "cash flow". But I have the room to stockpile. I don't necessarily try to time the market, but I do follow the trends and "buy low, sell high". For instance, three weeks ago I sold some of the copper I'd been stashing for a year. If this keeps up, which I expect, I'll go out next week and start contacting old clients who had wanted to start hauling their own stuff.
People may laugh at me, but that's ok. I laugh all the way to the bank.
Experienced Scrapper
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280 a ton for #1 steel. $3 #1 for copper total: $214
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