So is it time to cash in on the copper stash(1500+lbs)? What to you guys think?
Metal Recycling Entrepreneur
So is it time to cash in on the copper stash(1500+lbs)? What to you guys think?
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You just missed an up window, wait a little, also, call and negotiate your price with that much copper.
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Day(or more) late and a dollar(or more) short...sorry dude.
Recyclable Material Merchant Wholesaler
Certified Zip-Tie Mechanic
"Give them enough so they can do something with it, but not too much that they won't do nothing."
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At this point watch the market closely and maybe get to a ton and then call around. Top of the home page here ther is Scrap Monster or Kitco also has current pricing for all metals.
I won't be wronged. I won't be insulted. I won't be laid a-hand on. I don't do these things to other people, and I require the same from them.” John Wayne-- The Shootist
NEWBS READ THIS THREAD ABOUT REFINING!!!!
http://www.scrapmetalforum.com/off-t...ning-read.html
It depends. Do you need the cash right now? One sure thing about commodities prices. They fluctuate.
Metal Recycling Entrepreneur
I've kinda been watching the market waiting for an up trend. Not the case lately. I'm not really in a big hurry to sell, I just don't want to hold on to long and have the price drop even lower.
Do you have a place to put the money your copper stash represents? If you do and it will make you profit then perhaps now is the time. To me its more important to have a purpose for the money than the current prices and betting on the future price. Mike
"Profit begins when you buy NOT when you sell." {quote passed down to me from a wise man}
Now go beat the copper out of something, Miked
Metal Recycling Entrepreneur
Now would be the absolute worst time to bring in a large load of copper. It has dropped further in the last week than I have ever seen it drop.
Metal Recycling Entrepreneur
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Its down even more.
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I hauled in all of the copper commodities that I had first thing last Friday morning.
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Spot price for copper 2/19/14 $3.27
Spot price today 3/11/14 $2.95
I had a bag full of #2 insulated wire turned it in today $1.00 a pound. Last time I turned in some was 1/31 and got $1.05 lb.
Make some calls. Some scrap yards are locked in on prices for a week or so. U may get lucky. And tell them what u have. Good luck
Metal Recycling Entrepreneur
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I just heard on NPR copper commodities dropped 3% today. So I would figure scrap prices are to follow. hang on to that copper my friend.
Metal Recycling Entrepreneur
Thanks you guys for all the feedback. I will be holding out until the market rebounds, hopefully. (Mike)- I have quite a bit of time and some money invested, I'm hoping it will turn into a down payment to buy a house one day. I just don't want to hold out so long it loses value.
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Let's look at the bright side here...This is an opportunity for some to buy low and start or increase a stash for when prices rebound. Whether it be from a garage sale or from other scrappers you network with, use your knowledge of the market to make some deals.
Now I know some are going to say you need a certified scale and all that jazz but the reality is guys and gals of integrity have been able to work things out face to face, eye to eye with a handshake since way before the powers that be told you how it needs to be done.
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