steel prices crash..... bad

[Rumblebelly]

hi all,

sorry I have not posted in a bit.

scrap steel/shread/tin ... fell big time here in Il.
8/16 .... .11 cents a pound ... yeah!
9/16 thru 9/27 .... .075 cents per pound ... not too bad
10/03 .... .035 cents per pound .... ouch
10/04 ..... .03 cents per pound .... time to hoard

the yard says that Mittal is shuting down the furnaces to raise the prices of steel.
Mittal is only going to buy a third of the scrap they did as last month and Newcor is only going to buy a quarter.

I hope the demand for steel goes up. I guess that is why I did not see that many scrappers last week on my travels. I did well too .... 3 pick-up truck loads full.

This happening everywhere else too?

so today I did Aluminum instead ... cleaned up
221 lbs cast Al @ .40 per lb
218 lbs Al poles and rods @ .45 per lb
80 lbs of patio chairs @ .35 per lb

not bad after the shock of the low steel price on Friday

happy scrappin'
Rumblebelly

 

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[hyderconsulting]

Here in Southeast Tennessee shreddable steel is down to about 3 1/2 to 4 cents per pound. Don't know if it will fall further. Right now in this area with high gas prices and falling scrap metal prices not any scrap is going to the yards hardly at all. I've been to two feeder scrap metal yards and one scrap paper yard withing this last week and they had nothing in visible inventory on sight. I suspect the smaller feeder yards will rapidly get into money trouble if this keeps up. It something to keep note of. A lot of the yards will have to have some regular industrial accounts to fall back on for a supply of scrap while all this sliding market stuff keeps going on. That is the case of the paper yard I went to which by the way paid 3 3/4 cents per pound for corrugated cardboard day before yesterday. They are not getting much stuff from the public but they will probably get by alright. Right now myself I'm switching to selling stuff on ebay for a while until a bottom is found for scrap metal prices. Regards, Chris Hyder.

 

[aa battery]

after January 1st it will go up

 

[Dosamigos]

prices falling like a rock.

al cans 78/lb to 55/lb

#1 copper 2.85/lb to 2.10/lb

Cuts the interest and intensifies the true scrappers

 

[aa battery]

china still has a stock pile of steel and is waiting to see how our economy lands in the next few months. A guy down the street has a business of dismantling electric motors and selling copper direct to china. All the info i get is from him because he deals direct no middle man. I will start again about the end of January.

 

[BCR]

Wow got the shock of my life, tin is the lowest it's ever been since I discovered scrap metal as an income supplement. Took in 440lbs of tin today only got $20 for my trouble.. ouch it's now $100/NT here.

Asked my yard about old sheet, cast and extrusion, all 3 are within a few cents of 27 cents a lb!!!! Holy jeepers!! The office clerk said ya " these prices are crap" I said no kidding. So I guess until non-ferrous prices go back up I'm going to horde up for now and concentrate on Ebay and my other part time job instead.

If it wasn't for the fact I need the room, I'd horde the tin as well.

 

[pygmy]

I'm new here BCR and was wondering how u ( BCR ) make money on ebay.
Do u buy and sell scrap there ??
Geoff

 

[BCR]

No I don't buy scrap on Ebay... I sell quality used computer parts.

 

[tanner]

yeah the junk business isn't what is was earlier in the year.....heres what im gettin locally

alum .40
#1 1.90
#2 1.65
shred .035

trying to hold onto the copper and some aluminum for better prices.....i dont have the space to stockpile shredder. it doesnt seem like we are at the bottom yet either. this will squash some competition on dumpster divers so thats a plus at least