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B-Power-B
Penny Pincher Member
USA
111 Posts |
 Posted - 11/10/2008 : 20:57:06
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A local crap yard here in Washington state sent a letter to its business clients saying they would no longer be picking up scrap steel. I have not yet read the letter but I can believe it.
A month ago the scrap yard tired to give me $40 a ton for steel. I can only imagine its gone down but I never guessed they would quit taking it.
Are you guys seeing local yards not even buy steel yet??
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Those who trade liberty for security have neither.
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natsb88
Administrator
USA
1850 Posts |
Posted - 11/10/2008 : 21:09:24
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| I would guess they'll still take it, just not pick it up. Probably costs them more in labor and fuel to pick it up than it's worth. |
Nate
The Copper Cave
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Edited by - natsb88 on 11/10/2008 21:09:49 |
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Computer Jones
1000+ Penny Miser Member
USA
1112 Posts |
Posted - 11/11/2008 : 16:33:37
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If you can find anybody in WA who will pick up scrap iron, please send me his number ASAP!!!
The Northwest end of the Olympic Peninsula is a steel mine.
I just helped my neighbor cut his Mountain Logger (it took 2 days and it wasn't even a big one) into manageable chunks and he barely made enough to pay for the Oxygen, not to mention the fuel to haul it to the nearest dealer.
I got a good lunch and an, "I owe you one.", from my neighbor. |
There's profit if you melt things!!
8{> |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 11/13/2008 : 03:36:06
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| As more businesses fail, more equipment is going be scrapped. Depending on where scrap prices go, this may offer an opprotunity - or of there is no demand for scrap - a big problem. As old buildings come down due to lack of demand for space and rising upkeep costs, that may drive scrap too. |
“The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man.” – George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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bruce hylton
Penny Pincher Member
USA
102 Posts |
Posted - 11/13/2008 : 15:46:10
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| Just got off the phone with my regular buyer. $80 for #1 prepared steel, #1.50 for #1 bright copper, $.80 for #1 copper[dull], $.70 for #2 copper |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/14/2008 : 02:59:55
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Looks like metals are down all over the world. Boy, that is a really low price for #2 copper.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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double dot
Penny Sorter Member
USA
55 Posts |
Posted - 11/15/2008 : 00:38:02
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quote:
Originally posted by B-Power-B
A local crap yard here in Washington state sent a letter to its business clients saying they would no longer be picking up scrap steel. I have not yet read the letter but I can believe it.
A month ago the scrap yard tired to give me $40 a ton for steel. I can only imagine its gone down but I never guessed they would quit taking it.
Are you guys seeing local yards not even buy steel yet??
In the Albany NY area the local largest scrap dealer is effectively not buying steel by paying only $2 per ton. Yes, I brought in 200+ lbs of steel early November and got 20 cents. Four months ago I would have gotten $20. The price is now 1% of what it was. All my steel is now byproduct of copper ( 85 cents per pound ) or aluminum ( 15 cents per pound ) production. I have stopped collecting scrap except for mostly copper or aluminum. Stainless just hit 10 cents per pound and is no longer worth it. Other local scrap yards are mostly matching and one is not even buying copper anymore due to volatility. |
Crouching Teller, Hiding Copper |
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cakesea
Penny Sorter Member
51 Posts |
Posted - 11/15/2008 : 09:18:52
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| wow the scrap prices there are very low i get $2./hundred for steel at my scrapo yard. .40/lb for aluminum cans and $1.50/lb for copper and .25/lb for stainless |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 11/15/2008 : 17:04:23
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| The reason a lot of the prices have dropped on scrap is because of the weak overseas markets. These places have to make a profit.. so whatever they are paying will be reflective of what they can sell the stuff for. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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double dot
Penny Sorter Member
USA
55 Posts |
Posted - 11/17/2008 : 21:47:42
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I think the price of scrap has dropped so low that the transportation costs now makeup a significant part of the scrap price. If your scrap yard is located closer to the industrial end user, then your price may be higher. If the scrap market has truly crashed then the really low purchase prices may be investment for future price hikes. Alas, the scrap yard is empty and the prices are low. That means in Albany NY it is not stockpiling locally, so it is transportation costs.
IMHO |
Crouching Teller, Hiding Copper |
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Hirbonzig
Penny Collector Member
USA
451 Posts |
Posted - 11/22/2008 : 06:18:57
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| Just cashed in the last of my steel scrap at 1 cent per pound. Even with gas at $1.79/gal it's not worth it anymore. |
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No more steel pick up?
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