Iron ore prices are lower than they've been in the last 5 years. Coal was down some but recovered a bit in the last month. China's market is being flooded with cheap iron ore. It's so cheap China can't profitably mine most of their own at current prices. Combine that with the west coast dock strikes and that sends the price of scrap into the gutter.
Other metals like lead, titanium, nickel, tin, copper, and aluminum are considerably under any high reached inside of the last 12 months and many are currently at a price near half or less than half of the price of any high reached in the last 5 years.
I've seen some real dummies at auctions buying scrap, and I've seen some guys that do quite well for themselves, too. The dummies generally don't last long, but when one dummy disappears, another seems to take his place.
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Today's Featured Article - The Collection of a Lifetime - by Sherry Schaefer. The larest gathering of orphan tractors ever assembled by one collector will be auctioned off on May 15 in Rock Island, IL. Ed Spiess was a well known tractor buff who spent most of his time dreaming of rare and unknown tractors. His background as an agricultural engineer sparked his interest in the unique attributes of the models built from 1939-1959.
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