Ferrous prices are going to tank - Page 2

Originally Posted by Mick

If prices start tanking, I'll start beating the bush that much harder. There'll be fewer people out there trying for the stuff. You'll get more for less - or free. Think about charging to take the junk. Then just just keep stockpiling - the prices will come back. And even if they don't, that means the prices for other goods and services will come down, too. I've only lost once that way. That was with several hundred pounds of aluminum I held for three years. Prices didn't go up like I figured. Still didn't lose; just didn't make as much as I figured on.

Never follow the crowd. And don't panic - think.

Mick has it right! Never follow the crowd and THINK! Most of us are pretty strong willed people or we would not do what we do. We each have a talent, an opportunity to change with the shift, and the ability to go against the crowd. If we don't, we should be doing something 9-5. In my 56 years I have had ups, downs, much and little. We are here today and that is all that we have.

Tomorrow, I will get up and take a load across the scale, we are doing a block yard sale, and then I am going to relax. Whatever happens next week will happen and on tuesday, I will get up and do the best I can no matter what the market, or trends, or crowds are doing. Stay focused! There is always a new opportunity...if we don't panic ... and think! Thanks for the words of wisdom, Mick!



May we remember those that have gone before us and gave their lives, so that we can have the opportunities that we do have, in this country!!

I pray that you all have a blessed holiday weekend with family and friends! BroJer

We were talking in the shop yesterday and my wife/accountant mentioned we made alot more profit back when cars were around 140 a ton than we do now. So much competition that we are not moving near the volume we did and what we do get is at a grealy reduced profit margin than back then. Wouldnt hurt my feelings to bad to see things slow down.

Mine is now down to $200 a ton from $230 before Memoral Day

I am Not seeing as many Scrappers around as all the Illegals around here are back to Landscaping for the Summer .
I was at one of the yards I use Fri. ( only when in a hurry ) and he mentioned that they haven't been bringing in cars for a while now , since they started demanding a title and a drivers license .
When there No Speka The English and there International Drivers License wouldn't work , they haven't been back with anything .
This yard just dropped from $ 230 to $ 215 a ton , for everything , they use to have employees sort and weigh everything , laid them off , weigh in , unload on the pile , weigh out , and get a check .
Everything is $ 215 a ton , aluminum , copper , steel , car bodies , rocks , etc. , They claim there better off doing it this way .
Bandit

Around here everything is the same except copper. At one yard copper dropped .65 in one day about three weeks ago then friday it dropped another .05. Oh and electric motors dropped .04. #2 copper was 3.15 now 2.35.

Here in Houston, prices for shreddable sheet iron went from $0.14 to $0.11 in the last week and a half. I hope the prices don't fall anymore.

My yard went from $260 a ton to $245 a ton for light iron

Alum Cans
Clean Alum
Cast
Stainless are all @ .50/lb
Copper I have no idea haven't taken any up in over a month. I know it dropped but I haven't even asked.
Brass is $1.60-$1.70
Cast Iron dropped was $295 a ton now $275 a ton

I just took in 2760 lbs. They actually dropped from 220$ ton to 170$ ton. I shouldve called and gotten pricing. I didn't think they could or would drop it so fast in a matter of two days.

$50.00 a ton is a big drop!

I was sick to my stomach. Almost 100$ lost. I'll be shopping for another yard.

Boys tanking may be a reasonable representation of what is happening. from 270 a ton on shred to 215 and heard today another 40 drop this week if something dosent change. I may get stuck with some unprocessed nonferrous. Cant get to it this week and they are saying it is going to drop sharpley in the next week.

Just Brought 5100 lbs stuffed car body yesterday. $240 gross ton and she said it will be going down lower in the afternoon. That was at 12pm. We ran #1 unprepared across the scale and that was .12c lb before that. 6200lbs.

Finally took a $25 hit