O/T scrap prices done for the year?

Jack-Iowa · Aug 11, 2008

was wondering if scrap prices are about the lowest of the year about now seeing how the season is going to change soon and they need to get cleaned up.
or do you think there is some more upside to them in the next 4-5 weeks?
took some tin I was expecting to get 3 bucks or less for and got over 35 for it .almost fell over and they said the price just went down.

Blueclawz · Aug 11, 2008

No Way!
Scrap is and will continue to increase until either all of China and India close down production or some new less expensive method of recovery of metals is found. Scrap does not have a "season" so to speak..its demand driven. Living on the east coast I can confirm that when a large load of scrap is leaving port most of the local yards will actually increase prices to fill it faster thus cutting the expenses of keeping a ship waiting. I found 3 old coils of welding lead over at the farm....cleaned them and dropped them off at the scrap yard this morning. $2.83 per pound. Pretty happy with that kind of money!!!

Traditional Farmer · Aug 11, 2008

Theory is that China shut a bunch of factories down for the Olympics and demand will start again when they are over

Anonymous-0 · Aug 11, 2008

I thought fuel prices were the big factor behind high scrap prices because it is less costly to recycle a piece of metal than to process the raw ore. Of course, us buying Chinese products increases the demand for fuel in China which makes fuel prices go up.

Bob Kerr · Aug 12, 2008

Saw on TV that the "birds nest" stadium used over 191 thousand tons of steel on the outer structure alone not to mention all the other construction projects going on over there. Not all of our scrap went to junk sent back here. It does show just how much they have been buying and I doubt there is an end in sight at least till every barn lot, junkyard, ravine and rural river bank has been totally cleaned out! I may start buying stock in US owned Iron mines.

Cue P. · Aug 12, 2008

Scrap is usually down in the summer. It should rebound in the fall.

O/T scrap prices done for the year?

Jack-Iowa

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Blueclawz

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Traditional Farmer

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Anonymous-0

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Bob Kerr

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Cue P.

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