If you havn't been to the scrapyard recently prices are going up the price of light iron has almost doubled in the past month. So get your metal in if you have any.
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If you havn't been to the scrapyard recently prices are going up the price of light iron has almost doubled in the past month. So get your metal in if you have any.
http://www.scrapmetalforum.com
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I see it has gone up $20 a ton in my area, but that is about it. Something is better than nothing though.
Metal Recycling Entrepreneur
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Unfortunately here the price dropped a bit, but hoping it will go back up. Our scrap yard here in town got way overloaded with the clean up from the twister.. Now that 3 months have passed, hopefully our prices go up as well.
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If you have the capability, you might want to stockpile metal for an investment - especially copper. There was an overall 1% price jump this morning on the London Metal Exchange (LME) and further increases are expected in response to the probable building in 2011. If you look at past performance, there has been a general rise over the past year and especially in the past four months. Scrap yard prices may be down, but expect a spike next spring. I store copper in barrels and aluminum in an old building. Then I sell the Light and Heavy (#1) Iron for cash flow. Like Andrew noted at the start of this thread, prices spiked in August. I'd been holding Iron, too but starting "getting while the getting was good". I figured I about doubled for the ten months I'd been stockpiling since last Fall and in some cases prices were 4x from the low. Again, I'd take in a load or two a month to keep cash flow but when the prices spiked.... And didn't look back wondering if I could have made more by waiting a little longer.
People may laugh at me, but that's ok. I laugh all the way to the bank.
Metal Recycling Entrepreneur
Metals do seem to be climbing now. Yesterday's Bllomberg report -
"Tin reached a record."
"copper gained 1 percent"
"Aluminum gained 0.4 percent"
"nickel rose 1.5"
"zinc climbed 1.2 percent"
http://www.businessweek.com/news/201...es-record.html
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And the unemployment report this morning illustrates exactly the problem with short-term speculation. Metals prices had been rising and was expected to continue to rise due in part to higher rate of new claims for Unemployment Insurance in the US. The report released in London, England at 9:00 Eastern US time this morning showed a DECREASE of 11,000 new claims in the US. Copper price dropped by $0.06 in an hour. Always take the long view unless you've got money to throw away.
Metal Recycling Entrepreneur
I agree, metal prices are volitile (daily) with the stock market. Things do look good for copper in the long term. According to Bloomberg again -Originally Posted by Mick
"Copper may resume its rally and break the all-time high of $4.2605 within six months, Smith said, citing a weak dollar and rising demand from emerging markets including India, Brazil and China, the world’s largest metals user.
Deteriorating mine productivity is “among the most important constraints on supply,” the International Monetary Fund said yesterday in a report. “The medium-term balance of risks for prices should remain tilted toward the upside.” "
http://www.bloomberg.com/news/2010-1...-overdone.html
Metal Recycling Entrepreneur
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Been noticing our pricing going up here now as well.
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