So China is falling - How far down are your prices? - Page 2

5c lb tin with a anticipated drop to 4c next Saturday.

Down to 50c a pound on no plugs 50% wire now. Was 60 for awhile, then up to 75 for a week, then 65, now 50. Copper has taken a beating though...hoping it bounces a bit back up to about where it was, as I am sitting on about 500 pounds of wire.

I sold steel ,all grades any grade, for $20/ton all thru the 90's, and told people here when it started slipping in january to look out, all I heard was "i'm going to hold"... I don't
know what to say steel is still slipping, Cu and Al are sluggish at best, Nickel is completely bombed, and will never bounce back. nickels uses are going away and creating a glut, there are so many Stainless steels now with little to no nickel the market is glutted, not to mention the Russians are selling it off like it is free to support their non war wars

really the only people seeing any good from this is the MRF's because people have stopped curb shopping so MRF's are seeing the scrap they should have always seen, of course it is near valueless so "shrug"

V/r HT1

Now that metals seem to be slipping, I've wondered what the next bubble will be. There was a technology stock bubble in the 1990's; I thought about investing in steel companies at that time, but they were going bankrupt. When the technology bubble burst, I remember money started flowing into real estate investment trusts, and in the 2000s, there was a real estate bubble. When that bubble burst, money started flowing into precious metals. If the precious metal bubble bursts, and anyone on the forum has some thoughts on what the next bubble will be, I'd be interested in hearing them.

What are - - MRF's
I understand the concept
But urban slang MRF is ??

I haven't sold any scrap for awhile (6 weeks), my doctor wants me off my feet as much as possible and markets are down so putting my efforts where I can make the most. Today I had to sell some CRV, before I get buried in it (takes up a lot of space & attracts bees). Even the CRV rates are the lowest I have ever been paid in last four years. Was paid $1.95 for aluminum cans and $1.17 for plastic PETE, normal rate for cans is $2.10 to $2.15 and as high as $2.25. Plastic normal is $1.20 to $1.23 and as high as $1.25. Also sold 50 pounds of #2 copper and got $1.95, sold that more out of curiosity and keep my buyers interested in me! I would say rates are way down across the board.

Originally Posted by mikeorloff

Now that metals seem to be slipping, I've wondered what the next bubble will be. There was a technology stock bubble in the 1990's; I thought about investing in steel companies at that time, but they were going bankrupt. When the technology bubble burst, I remember money started flowing into real estate investment trusts, and in the 2000s, there was a real estate bubble. When that bubble burst, money started flowing into precious metals. If the precious metal bubble bursts, and anyone on the forum has some thoughts on what the next bubble will be, I'd be interested in hearing them.

You left off the student loan bubble which is bursting at the moment and is HUGE. I expect the medical field to collapse in the next decade taking with it many leveraged hospitals (taking loans out to buy smaller ones) which will in turn kill off drug makers and drug sellers plus many doctors and nurses. Too many people making a decent living on healthcare and when it implodes it will be ugly. The SS disability fund will run out of money soon, Medicare is going to run out of money in a decade, and SS will be using more money then they receive from working people (and we know the SS fund is just an IOU). So when the old white voters start *****ing about their healthcare problems the US GOV will have to start cutting defense spending to shore it up (mostly by firing military personnel and contractors first).

I don't see a good spot to park money as an investment unless you have a few hundred billion to buy a FED bank and loan imaginary money to the GOV and collect interest on it. I do see food prices going up especially with long term water issues in the US followed by diseases at the major chicken, pork, and probably cow producers . I just can't see non rich people profiting from it because of capital needed.

Originally Posted by Copper Head

What are - - MRF's
I understand the concept
But urban slang MRF is ??

Municipal recycling facility. that is where the stuff in the blue bins beside the road are supposed to end up!