OT: The Stock Market and Scrap Prices.

[wrustle]

HOLY CRAP!!

Went to the scrap yard a month ago. .75/lb for aluminum solids, and .35/lb for aluminum turnings......not the greatest but very happy!

Sent my son to the scrap yard this past Wednesday with about 400lbs of solids and 250lbs of turnings. Ahhhh......mad money coming right up!

He calls me from the yard and says, Dad.....I just want you to know they told me the prices have dropped........ALOT!!!

.05/lb for turnings, and .15/lb for solids!!

I told him to bring it all back to the shop. Made a few phone calls.....the best I could find was .15/lb for turnings and .30/lb for solids.

Needless to say I had him unload the barrels and put them into storage in back of the shop. In the mean time we'll buy a few more barrels to fill and hope the prices go back up.

Anyone else come across this the last few days? What are the prices in your neck of the woods?

Best Regards,
Russ

 

[Mattedroom]

I talked to my scrap man friend tonight at bowling. He says it's way down. He's even into other things at the moment due to the lack of money in scrap. Hopefully that shows it's self in material prices soon, because I have yet to see that.

 

[Mfassler]

sounds similar here, we have a ton of scrap we just brought back because its 15 cents a pound. so we are just gonna store it for now.

 

[Gackman]

Don't feel bad

Russ,

I don't have any aluminum turning or solid scrap like you but I see the pop can prices around here near Minneapolis fell to 50 cents now. They were up near $1.00 this summer. Last week I got rid of some steel chips and I got less than 2 cents a pound for turning chips and it wasn't worth the gas to haul it out. Earlier this summer I got 10 cents. I heard everything in China shut down during the Olympics and when that happened everybody "filled up". But go out now and buy some barstock right now.........kind of like crude oil and gas prices at the pump. It's all greed. Needless to say, like you, I'll be storing it outside from now on until the prices make it worth my while.

Greg

 

[fmari --MariTool-]

Some mills have stopped buying scrap from scrap dealers. Its getting ugly.

 

[cdn farmer]

My local scrap guy said the overall demand is going down for aluminum because the casting companies are slowing down due to the auto market dropping off,,
I still got 25 cents a pound for turnings but he said in a couple of weeks I`ll be lucky to get a nickel,,needless to say we`ll be stock pilling ours until things change,,

 

[Boris]

Same this side of the the water

Our scrap pickup guys got £6 for 12 barrels of aluminium swarf
So they told us we going to have to pay them to haul the scrap away

And dont even ask about the mild steel chips

Boris

PS that money goes into the xmas box to be split among everyone

 

[Blue Steel]

Was a story in "The Australian" our national newspaper the other day about scrap merchants being up against it and unable to sell so they had stopped buying. I think it is one of those times right now. 6 months time a bit of sanity might have returned to it all

Stephen

 

[PhillipM]

Same this side of the the water

Our scrap pickup guys got £6 for 12 barrels of aluminium swarf
So they told us we going to have to pay them to haul the scrap away

And dont even ask about the mild steel chips

Boris

PS that money goes into the xmas box to be split among everyone

I can remember just 4 months ago taking a trailer full of scrap and swarf to weigh in and coming home with £2000.
Certainly be putting it aside this time!

 

[Joe788]

Russ, I wish you would have made this post on Monday!

Our scrap company came and picked up a few thousand pounds of aluminum chips on Tuesday. The volume we shipped them is usually worth $3500-$5500. Now I'm scared to even open the check when it comes!

 

[Mud]

Maybe the thefts will stop for a while now.

 

[wrustle]

Maybe the thefts will stop for a while now.

For what the scrap yard is offering to pay these days.....it might just be cheaper for us to HAVE the crooks steal it!!

 

[dkmc]

I was quoting a 12L14 job past week.....metal suppliers say
new steel will drop from .94/lb to .80/lb November 1st.

Scrap steel was $40/ton last week locally......

 

[Mebfab]

Last auction I went to there was a guy buying all the large machines. "Gonna make some money". Wonder if he filled his shorts when he brought them to the yard.

 

[exkenna]

Yep.
Just turned in my last decent load of carbide. Price has dropped $1.25/lb.
I have a friend that runs a scrap yard and he told me last week they went to 4 days a week and 304 is dropping through the floor. His boss told him not to offer more than a buck a pound for Ti.
Frank"s right. The mills are not taking much if anything for a while.

 

[dkmc]

Last auction I went to there was a guy buying all the large machines. "Gonna make some money". Wonder if he filled his shorts when he brought them to the yard.

Came in with a load of iron and left with a load of a different sort....as it were.....

 

[Wren]

The steel mills around here are going to 30 hour weeks, the bottom has dropped out of the market. They had it really good not too long ago.

 

[metalbizonline]

Hang in there and wait for the dust to settle. This is the part of the scrap business I hate. The big guys love times like this because they play games.

My advice is don't play along. Especially at .05-.15/lb you're better off sitting on it and buying everyone else's scrap in the industrial park if they have to sell.

For those of you with big warehouse shops and lots of storage you could buy 100,000 lbs of scrap at .10/lb for $10k. Then when the price returns to .75/lb, which IT WILL, your 10k will be 75k.

That's the big boy game, and they do it every time the market panics.

Come on over to the dark side boys...

 

[Ox]

Just be carefull not to have chips inside and catch fire!

Or at least not have huge piles of such...



----------------

Cooper/Elvira in '08
The "Wild" party!
Ox

 

[Hi-Point]

Scrap

2 weeks ago I took brass shavings to the local yard and got $1.90lb,
Called this past fri and they said maybe .60lb, Max of .70 lb.
so I'm going to hold onto it, I'll wait for the brass barstock to drop and buy some for current jobs and some for inventory.