Scrap metal prices up, down, or sideways? What's your bet.

Since we are about to begin a new month I figured we might as well start getting our thrills by trying to second guess the market. I predict a flat market on scrap steel, maby down five bucks a ton. What are you guys thinking, be brave, stick your neck out We can all come back here next week, look at the predictions and decide who we want to go to Vegas with

Sideways to up $5.

I'll say flat to up 10.00 a ton on shred, sideways on aluminum, copper maybe up a dime a pound.

Originally Posted by freonjoe

I'll say flat to up 10.00 a ton on shred, sideways on aluminum, copper maybe up a dime a pound.

i thought it would go up 2 weeks ago because in my area the past 5 yrs when gas goes up shred goes up but its stuck @ 8.25 a hundred, gas in NC is around 3.83

Originally Posted by camdaddy

i thought it would go up 2 weeks ago because in my area the past 5 yrs when gas goes up shred goes up but its stuck @ 8.25 a hundred, gas in NC is around 3.83

The yard I sold at yesterday was paying $12/100. I didn't have any shredder, only brass. It went $1.90 for yellow and $2.21 for red. #1 was $3.05.

Originally Posted by Ir0nman1

The yard I sold at yesterday was paying $12/100. I didn't have any shredder, only brass. It went $1.90 for yellow and $2.21 for red. #1 was $3.05.

Those prices were in NC. Last month I got .65/# on ext. AL, and .57/# on SS in Fla.

I like your predictions better than mine up would be nice.

Flat- after dropping down to 160 a ton. A small drop or gain wouldn't hurt me now that I'm sitting at 210 ton again. Who knows with non ferrous I read all diff kinds of indications. I'm sitting on 500 lbs of lead batteries and a large amount of e waste that I'm breaking down. I'll just sit on my steel like I did when everything dropped last quarter.

Originally Posted by Russell

Flat- after dropping down to 160 a ton. A small drop or gain wouldn't hurt me now that I'm sitting at 210 ton again. Who knows with non ferrous I read all diff kinds of indications. I'm sitting on 500 lbs of lead batteries and a large amount of e waste that I'm breaking down. I'll just sit on my steel like I did when everything dropped last quarter.

you're sure doing a lot of sittin! some of those places sounds kinda uncomfortable though ; ) haha!

Most of the small yards here in west Michigan are paying about $180 a ton on steel, where are you that your getting 210?

Same here, 180 a ton and I think it'll stay there for a while. Copper will be up a little. Aluminum will stay about the same.

sideways with an outside chance of being up $5-$10

After the elections most metals will drop (building and manufacturing is going to slow), precious metals up.

Originally Posted by unknownk

After the elections most metals will drop (building and manufacturing is going to slow), precious metals up.

I heard this from other scrappers around here. I know why scrap would go down, but why would precious metals go up?

Originally Posted by LadyScrappers

I heard this from other scrappers around here. I know why scrap would go down, but why would precious metals go up?

Because people who are dumping stocks need to put that money into something, gold does well against inflation and is easy to sell later.

Originally Posted by LadyScrappers

I heard this from other scrappers around here. I know why scrap would go down, but why would precious metals go up?

As they devalue the dollar by printing more of them and creating more debt, it drives PMs up as a hedge against inflation but suppresses the economy in general so commercial metals go down.

im guessing a raise in shred of $10 to $15. Currently at 215 a ton for August. Copper needs to go up around here, $2.50 a lb for copper1 in Aug also

i bet price will be going up %5-%10

who wants to bet $5.00

Originally Posted by unknownk

After the elections most metals will drop (building and manufacturing is going to slow), precious metals up.

Such a dismal outlook, we haven't put king oh-bummer back in office yet

Originally Posted by diesel

Such a dismal outlook, we haven't put king oh-bummer back in office yet

Well car sales are doing decent (car financing is skyrocketing while credit card debt is slightly lower) yet steel isn't going crazy. People are tapped out and have less credit then they used to. China is slowing down because the US and Europe isn't buying as much of their junk (which will affect all scrap prices in the long run). Europe is going to fall apart and the US is broke spending monopoly money which will not last forever. it doesn't realy matter who runs the whitehouse anymore, the end result is the same policies that keep a few people very rich and the rest will live in poverty. Still waiting for the healthcare bubble to collapse, which is a crazy 15% of GDP and rising like crazy. The last few decent jobs around are healthcare based and when that implodes so does the country (heck most states and cities are broke now anyway and the US debt is never getting paid down let alone paid off).