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agui
Penny Sorter Member
72 Posts |
 Posted - 10/15/2008 : 00:34:09
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As all of us konws, scrap metal market in China has been in dullness these days. Why it is been like this?
As a overseas supports, do you still have interest in China market?
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redneck
Penny Collector Member
314 Posts |
Posted - 10/15/2008 : 08:59:46
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It's kind of interesting (strange) to see you and the Chinese market
reacting somewhat bewildered to a slow down in goods needed by other countries when your the largest exporter in the world.
When money is tight,people hold their money even tighter.
When, if, the credit markets loosen up, I'm sure China
will come back full force and then some.
Till then, just kick back, drink a beer or two or three or .........
>
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B-Power-B
Penny Pincher Member
USA
106 Posts |
Posted - 10/15/2008 : 10:52:28
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or four... or five...
This is not my area of specialty but from what I understand there are many other countries who are trying to bail out their economies as well. And I think Redneck is right, people are just not out there trading. Which has now lead to the scrap market taking a crash as well. I knew it would hit the scrap metal market, and I also knew it would be one of the last markets hit....I hope its one of the last-things sure are slow! |
Those who trade liberty for security have neither.
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B-Power-B
Penny Pincher Member
USA
106 Posts |
Posted - 10/16/2008 : 17:54:47
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Also,
The cost to refine virgin ore rises directly with the cost of energy. Therefore, as long as demand stays constant: as energy costs rise, so does the demand/value of scrap. I am no economist, but crude oil has been dropping lately, I wonder if that too plays a role. |
Those who trade liberty for security have neither.
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Edited by - B-Power-B on 10/16/2008 17:56:13 |
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legacypac
Administrator
Canada
1653 Posts |
Posted - 10/17/2008 : 16:16:39
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My father knows a large west coast scrap dealer. Here is his story:
1. Scrap steel is loaded on ships on the North American West Coast, often "destination to be deturmined"
2. While the ship is sailing for Asia the shipper sells the scrap and sends instructions to the ship.
3. When steel dropped last several weeks, the market dried up. No one wants to buy scrap now.
4. There are about 50 scrap steel ships sailing around in circles in the Pacific with no where to go. They can't just sit still out in the open because then the weather might sink them (think typoons, big waves). They don't want to put into port because then they have to pay port charges.
5. There are several dozen scrap ships sitting in Hong Kong harbor with the same problem.
6. The value of the steel on the ships continues to drop, and there are no buyers. The shipper pays for the use of the ship for X days. Sailing in circles or sitting in a harbor means the shipper must now pay extra charges for tying up the ships.
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Frugi
Moderator
USA
473 Posts |
Posted - 10/17/2008 : 21:14:02
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| Speaking of China. If you are ever there, you will notice there is waste cans fixed to the pavement on every single street corner in Beijing. They are ALWAYS empty! If you were to drink a Pepsi, and toss the plastic bottle into the waste can it would be picked up by a passerby before it hits the bottom of the can. Everything is reused, everything, even human waste, blood, and dead bodies. |
Real Eyes Realize Real Lies
___________________________
http://www.youtube.com/watch?v=R1wXV9vdM0c |
Edited by - Frugi on 10/17/2008 21:15:06 |
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agui
Penny Sorter Member
72 Posts |
Posted - 10/24/2008 : 01:31:58
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| Now the market in China still very dull, especially the copper buyer, one of my friends has his goods price slipped almostly half. |
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HoardCopperByTheTon
Administrator
USA
3603 Posts |
Posted - 10/24/2008 : 21:58:35
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We sell a lot of fiber (newspaper and cardboard) to China. That market has slipped significantly as well.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
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B-Power-B
Penny Pincher Member
USA
106 Posts |
Posted - 10/25/2008 : 22:47:25
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| Last time I checked, a local buyer (Seattle,WA) was giving $75 a ton for cardboard (that was around March of this year I believe). What are the prices doing on cardboard now? |
Those who trade liberty for security have neither.
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agui
Penny Sorter Member
72 Posts |
Posted - 10/26/2008 : 20:14:43
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quote:
Originally posted by B-Power-B
Last time I checked, a local buyer (Seattle,WA) was giving $75 a ton for cardboard (that was around March of this year I believe). What are the prices doing on cardboard now?
The price I have konw for Old kls (cardboard) was ¡ê45-¡ê58 per ton. |
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B-Power-B
Penny Pincher Member
USA
106 Posts |
Posted - 10/27/2008 : 15:52:36
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Ever since the scrap market slumped I have noticed that this message board has been sluggish also. I guess it makes sense though  |
Those who trade liberty for security have neither.
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Topic |
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Why Chinese scrap metal market are so sluggish?
