Originally Posted by
Scrappah
Stopped in at my usual gas station last month. Premium was running about 4.30 / gal. and regular was about 3.20 / gal. There was quite a spread there.
I already knew why, but i commented on it when i went inside to pay. The gal explained that she had bought that load at a certain price and couldn't go any lower without losing money.
I'm seeing something similar going on with scrap. It's a slow time of year and there's more time to network and build friendships with the other scrappers in my area. We all get together and just shoot the breeze for an hour or two every week. There's little or nothing coming in right now so they're hoarding till the price comes back up in the spring.
Wonder if we could take a lesson from the gal at the gas station ?
Commodities have been dropping for awhile now and don't appear to have hit bottom yet. Folks are holding while the value of what they have in stock is dropping daily.
Wouldn't it make more sense to turn-n-burn ? Get that stuff in and out of the shop as fast as possible so that you're not losing money on it ?
I just can't see selling scrap at .04/100LB...........If the market does not turn in a month or two sure I will sell and probably get out of the biz....LOL..........It has been my plan to finish school anyway (10 hours away from 2 year degree)...........Not that the degree will get me ahead in life but kinda personal goal of mine........OH well to Each his own
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