Results 1 to 17 of 17

Copper prices going up!

| Scrap Metal Prices
  1. #1
    asandahl started this thread.
    SMF Badges of Honor


    Member since
    Oct 2011
    Posts
    64
    Thanks
    0
    Thanked 17 Times in 11 Posts

    Copper prices going up!

    Last time I took #2 copper in I got $2.85, I called Tuesday and got a price of $3.04. Today i called and they said they were paying $3.10/ pound. My question is, should I sell it soon or wait? What are your prices in your area? I am located near Omaha, Nebraska, but sell in Council Bluffs Iowa.



  2. #2
    hobo finds's Avatar
    SMF Badges of Honor


    Member since
    Nov 2010
    Location
    tucson, az
    Posts
    4,746
    Thanks
    6,035
    Thanked 5,906 Times in 2,555 Posts
    If you need the cash sell! Who knows what the price will be in 3 months from now!

  3. #3
    Mick's Avatar
    SMF Badges of Honor



    Member since
    Aug 2010
    Location
    Palermo, Me
    Posts
    3,405
    Thanks
    363
    Thanked 3,086 Times in 1,326 Posts
    Just take your best guess based on what you think the market will do and never say "I should have...". One thing is certain - nobody KNOWS what the market will do. Just look at any chart of the past five years. Our economy is littered with people who bet everything that housing and commodity prices would only keep going up. If you can't afford to lose, don't speculate - sell for what you can get now.
    People may laugh at me, but that's ok. I laugh all the way to the bank.

  4. The Following 2 Users say Thank You for This Post by Mick:


  5. #4
    tackleberry's Avatar
    SMF Badges of Honor


    Member since
    Oct 2011
    Location
    Toronto
    Posts
    200
    Thanks
    37
    Thanked 120 Times in 50 Posts
    Was told 3.10/lb for #2 on Tuesday.

    I will probably be selling my small stash on Saturday.

    Whether you sell now or wait it out to see what the market does is based on your personal opinions and requirements. However there is an old saying that I like.....

    "Sometimes the bulls win, sometimes the bears win but the pig always gets slaughtered"

    Nothing wrong with taking some profits.

  6. The Following User Says Thank You to tackleberry for This Post:


  7. #5
    SMF Badges of Honor


    Member since
    Jan 2012
    Location
    VA
    Posts
    52
    Thanks
    2
    Thanked 19 Times in 17 Posts
    I sold @ $3.00.

  8. #6
    Mechanic688's Avatar
    SMF Badges of Honor



    Member since
    Mar 2011
    Location
    Warsaw , Ind. In the heart of the lakes, and down the street from the hotel where Al Capone stayed.
    Posts
    9,568
    Thanks
    11,247
    Thanked 10,730 Times in 4,728 Posts
    P & M Recycling - Specializing in E-Waste Recycling.
    If you enjoy your freedom, thank a vet.

  9. #7
    SMF Badges of Honor


    Member since
    Nov 2011
    Posts
    101
    Thanks
    40
    Thanked 24 Times in 12 Posts
    I like what Mick had to say , I am a believer in Old sayings and you might ask why so I'll ask you would they still be around if there wasn't a large degree of truth? With that I leave you with " A bird in the hand is worth 2 in the bush". Or as so frequently quoted on this forum well it's x amount of dollars I didn't have.

  10. #8
    SMF Badges of Honor


    Member since
    Nov 2011
    Location
    boise, ID
    Posts
    1,605
    Thanks
    469
    Thanked 1,462 Times in 668 Posts
    Don't forget the time value of money.

  11. The Following User Says Thank You to freonjoe for This Post:


  12. #9
    SMF Badges of Honor


    Member since
    Jun 2013
    Location
    Weathersfield Vt
    Posts
    12
    Thanks
    1
    Thanked 3 Times in 3 Posts

    chart for copper

    Copper High Grade (Globex) Monthly Commodity Futures Price Chart : COMEX

    Viewing this chart clearly shows the the over all trend is moving down and all metals will more than likely drop to near bottom before going back up that may take a year you two so my advice would to hold on to your big dollar metals and wait it out.
    Last edited by Wellwoods; 06-28-2013 at 07:02 AM.

  13. #10
    ScrappinRed's Avatar
    SMF Badges of Honor

    Member since
    Jan 2012
    Location
    texas
    Posts
    709
    Thanks
    319
    Thanked 710 Times in 342 Posts
    Quote Originally Posted by Wellwoods View Post
    Copper High Grade (Globex) Monthly Commodity Futures Price Chart : COMEX

    Viewing this chart clearly shows the the over all trend is moving down and all metals will more than likely drop to near bottom before going back up that may take a year you two so my advice would to hold on to your big dollar metals and wait it out.
    ... they probably sold this back in January when they originally posted and made LOTS more than any of us could hope for now...
    ~You have to start somewhere to get anywhere~

  14. The Following User Says Thank You to ScrappinRed for This Post:


  15. #11
    auminer's Avatar
    SMF Badges of Honor



    Member since
    Nov 2012
    Location
    Allen, TX
    Posts
    1,233
    Thanks
    579
    Thanked 2,301 Times in 857 Posts
    Looking at a chart to tell you the future pricing of anything is as useful as painting your windshield black & using your rearview mirror to see what's ahead of you.
    Out of clutter, find simplicity. --Albert Einstein

  16. The Following User Says Thank You to auminer for This Post:


  17. #12
    bigdog72's Avatar
    SMF Badges of Honor


    Member since
    Dec 2012
    Location
    honey brook PA
    Posts
    274
    Thanks
    14
    Thanked 137 Times in 68 Posts
    I saw this thread and got excited, then I checked the date now I'm sad

  18. The Following 3 Users say Thank You for This Post by bigdog72:


  19. #13
    auminer's Avatar
    SMF Badges of Honor



    Member since
    Nov 2012
    Location
    Allen, TX
    Posts
    1,233
    Thanks
    579
    Thanked 2,301 Times in 857 Posts
    Here's an interesting article fromBarron's. Bear in mind back when I was a hointy-toity stock trader, I actually ended up getting a blurb in an issue of Barron's. The front page of that issue had two words on it. Just two... in huge font: BUY GM.

    Less than a year later, GM filed for bankruptcy.

    So take their word (or that of any other money rag) with a grain of salt.

    Anyway, I digress.

    As China Pivots Towards Domestic Consumption, Demand For Copper Will Be Strong, Says Fitch - Emerging Markets Daily - Barrons.com

    ...""

    Copper is probably the only bright spot in the long term with China’s increasing focus on energy efficient products, which require higher copper usage per unit. Per capita consumption for the metal is still very low at over 5.5kg compared with developed nations’ peak consumption of well over 11kg. Although copper prices have been muted due to an increase in supply, we do not expect this effect to last beyond 2015 or 2016.

    China’s reliance on copper concentrate imports will remain strong because most of the copper deposits in the country are small while the larger ones are located in areas that are difficult to mine.

    ""...

  20. #14
    Sirscrapalot's Avatar
    SMF Badges of Honor


    Member since
    Mar 2012
    Location
    A sandbar off the atlantic..OBX,NC
    Posts
    6,123
    Thanks
    11,885
    Thanked 8,783 Times in 3,854 Posts
    I can hardly picture you as hoity toity Auminer. Maybe that BBS has been a good influence on you.

    Thanks for sharing the link, always good to know whats going on in other parts of the world.

    Sirscrapalot - I can sleep when I'm gone. - Many people.

  21. #15
    SnowBeast's Avatar
    SMF Badges of Honor

    Member since
    Nov 2013
    Location
    Alaska
    Posts
    29
    Thanks
    36
    Thanked 33 Times in 18 Posts
    I heard that China is stock piling copper and the price will drop in 2014, but that is just what I have heard, I could be wrong and I hope I am.

  22. #16
    SMF Badges of Honor

    Member since
    Nov 2013
    Posts
    2
    Thanks
    0
    Thanked 0 Times in 0 Posts
    Is their a website or something to look up to see what metal prices are at? My local recyclery website just sex call for prices but the line is usually busy or they just don't answer?

  23. #17
    jord0690's Avatar
    SMF Badges of Honor


    Member since
    Sep 2012
    Location
    Barrie
    Posts
    1,180
    Thanks
    27
    Thanked 716 Times in 440 Posts
    Quote Originally Posted by ryan1il View Post
    Is their a website or something to look up to see what metal prices are at? My local recyclery website just sex call for prices but the line is usually busy or they just don't answer?
    Its different depending on location. One yard here pays 2.90 for copper and another is a little bit less. Every yard is a little different.
    If I didn't have bad luck, I'd have no luck at all...

    GC Metal Recycling & Recovery
    Barrie, Ontario.


  24. Similar threads on the Scrap Metal Forum

    1. Copper prices
      By asandahl in forum Scrap Metal Prices
      Replies: 12
      Last Post: 10-15-2012, 12:36 PM
    2. Copper Prices
      By toula in forum Scrap Metal Prices
      Replies: 47
      Last Post: 05-25-2012, 08:20 PM
    3. copper prices
      By High Voltage Processing in forum General - Let's talk business
      Replies: 1
      Last Post: 05-23-2012, 05:31 PM
    4. copper prices
      By stangcrazy in forum Scrap Metal Prices
      Replies: 4
      Last Post: 06-02-2011, 09:18 PM
    5. How you know copper prices are way up
      By ComputerScrapper in forum Scrap Metal Prices
      Replies: 5
      Last Post: 05-25-2011, 10:01 AM

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.





OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF on Facebook and Twitter

Twitter Facebook