Steel prices - going down

Hey Guys,
Just letting you know that there is talk of a 20-40 $/TN down turn end of this month and/or start of next.
My advice scrap everything you have.

We're there already http://www.scrapmetalforum.com/scrap...any-worse.html

My crystal ball is in the shop, but I don't forsee any changes in the near future.... at least not good ones.

Investment companies are all over the map for copper futures. Half are bearish, half are bullish. What I get out of this is... nothing. Maybe small rises and small falls in price? Don't quote me on that. I'll be happy if copper just holds steady. It is too unpredictable. Let me (partially) explain why:

If all the copper mines cut production by half, there will be a deficit in supply, which means the price will rise. If none of the mines cut production, the price will probably fall because the supply for will be high and the demand for copper is low. A smart manager would cut production to increase the value of their product. But one mine cutting production will not make much of a difference, so that last statement is moot.

But nobody knows what each individual copper mine is planning, therefore hard to predict. That's just one piece of the pie.

There is talk of an additional $20 down in November. Just a heads up fellas

mixed steel's 63 m/t and alum's been holding at 0.40/lb near me

Weitsman takes everything as mixed near me so all steel's going for $0.028/lb or $63 MT. Worst part about it is even though it's low, people and companies still bring it in by the truck full(and by truck i mean a full rig and trailer) and he's still buying out lower yards in upstare NY so he's making money.

.035 for shred now, .055 clean steel, even cast iron like brake rotors is down to .08/lb. The yard I go to, and it's pretty big and they buy just about everything, used to have 2 shred piles going all the time. Now there is 1 and it's a PITA to get at now because there is only room for 2 vehicles, 3 maybe, to drop off at a time.
*starting a new paragraph for Sirs*
I've also noticed how they have shifted some staff around, bringing back the veteran weightmaster (the only one I will call that, because he knows his sh!t and has taught me almost everything SMF hasn't) and moving some others back to their former positions to improve effeciency. I wonder if that had anything to do with one of the younger guys buying 100s of lbs of fiberoptic cable as the thick electrical conduit wire (hehehehe, I was there afterwards when the guy tried to bring in a second load and they wouldn't even let him dump it in the shred pile) OUCH! that hurt someone's wallet, and eventually mine, I suppose.