O/T scrap iron price drop

Dozer Guy · Oct 8, 2008

HEY GUYS, how much did your scrap iron drop? Ours in texas(waco) dropped from 10 to 3 long. 11 to 4 short. copper#1 from 3.50 per pound to 2.00 and copper#2 3.00 per pound to 1.90 .. in the last few months... How is yours doing? I was going to haul a load in today , checked the prices and changed my mind very quickly.. did AIG do this or the election or what?

GeneMO · Oct 8, 2008

I heard someone say it was due to the devaluaton of the dollar on the world markets.

Gene

jpapier · Oct 8, 2008

If that was the case, Gene, the price would have gone up.

Dozer Guy · Oct 8, 2008

Not Good!!

kyplowboy · Oct 8, 2008

Just had a deal on the news here where a local city construction project had all the bids come in $4 mill under budget. They said the reason was the drop in steel. Had a guy on there talking about it said that the world demand on steel had dropped off real steep after the Olimpics. Seems China bid up as much steel as they could to build every thing for the Olimpics and now demand has fell off sharply.

Just an idea I just heard on tv from our local media so take it for what its worth.

Dave

Patsdeere · Oct 8, 2008

The scrap guy around me told me that since they shut down all the foundries for pollution control for the olympics, that the demand had dropped. People had stock piled tons of scrap metal and since China wasn't buying it, they had to hold it. He thought that about Dec/Jan it would come back up. However, with this lovely economy, who knows when it will come back up.

It dropped from almost 300 to 100 a ton.

Andy Motteberg · Oct 8, 2008

Scrap iron price here is $75/ton.

S.Crum · Oct 8, 2008

I have my doubts your will see scrap prices spike as high as they were for a long time now. China I believe misjudged the American economy just as a lot of speculators have. A lot of China's production has been shipped and sold back here. Or economy slips and their sales do. People here are starting to wake up to the fact that they CAN do without many things. A new car or truck every other year all sorts of trinkets etc. This is all happening at a bad time for the Chinese who are now demanding the living standards we have enjoyed for years. Things are shaking out and things will level off. And when something is scrapped it will truely be scrap as in no longer usable. I like to work with new material but I often make a trip to the closely guarded scrap hopper first. Anybody notice the price of new steel hasn't dropped much?

tiresntracks · Oct 9, 2008

I'm glad it finally went back down. It sure was sad to see all those old tractors going for scrap.

Spook · Oct 9, 2008

Local guy told me he stopped scrapping, doesn't apy to haul it.

dhermesc · Oct 9, 2008

I heard someone say it was due to the devaluaton of the dollar on the world markets.

=================================================

When the dollar was weakening our overseas scrap sales increased. Now that the dollar has made a huge comeback (the Euro is now in the toilet) the cost of exporting has risen.

Jeff1 · Nov 13, 2008

Where are you located that it is bringing 100/ton?

Anonymous-0 · Nov 14, 2008

I don't know what the prices are, you used to have to pay to get rid of a junk car here (100 bucks and take it to the yard yourself) then, people would drive around and put flyers out to pick up stuff for free. Not much longer and they would pay up to 150 bucks for a car and pick it up.
Now, they'll put out flyers and not show up and it's back to paying to get rid of a car.

Dave

O/T scrap iron price drop

Dozer Guy

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GeneMO

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jpapier

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Dozer Guy

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kyplowboy

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Patsdeere

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Andy Motteberg

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S.Crum

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tiresntracks

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Spook

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dhermesc

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Jeff1

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Anonymous-0

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