As steel prices are down time to prepare steel?

When I first started scrapping I would say "steel sucks!" Then as prices rose and I was removing steel anyway I started to take it in with my other metal. I learned fast that steel is easy money and took everything I could find! Then the prices became so good almost no steel could be found. Now that prices are falling and I can't keep steel with all my other piles of metal at my house, hoping for prices to rise. A new scrap yard opened and and pays for different types of steel (shred, sheet, prepared, unprepared, heavy melt, etc..). My normal yard is starting to do the same. Before peddlers just got sheet iron price no matter what is was! So now as I want to hold on to what I can (in hopes of better pricing) I am going to separate the steel keep the better stuff and continue to bring in the shred for whatever the price is!

You are right on target. With the local prices, it is time to prepare and separate iron. We have prepared, shear, and torch for iron at the local yards. Anything over 3/8 in. is being prepared now for higher prices when the market swings. In the last four days 20 tons has been prepared and will wait until the market is paying $ 220 a n/t to cash out. Right now it is $ 175 a n/t.

Two elements allow this strategy. Room to stockpile and saving during good times for a rainy day. Every time the market drops, it allows time for maintenance of equipment, updating equipment, advertising, and networking.