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Thread: Copper prices going up!

  1. #1
    Metal Recycling Entrepreneur
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    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
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    If you need the cash sell! Who knows what the price will be in 3 months from now!

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    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.

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    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.

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    I sold @ $3.00.

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    P & M Recycling - Specializing in E-Waste Recycling.
    If it plugs in or runs on battery, we recycle it.
    See our ad in the Buyer & Seller Section

    http://www.scrapmetalforum.com/scrap...onnectors.html

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    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.

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    Don't forget the time value of money.

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    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.

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    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~

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    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

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    I saw this thread and got excited, then I checked the date now I'm sad

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  19. #13
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    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.

    ""...

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    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.

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    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.

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    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
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    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.


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