Copper & Aluminium Prices Have dropped In Australia

:D:DHi all about a week a go i took some stuff into the yard and netted myself $430.30 this is the largest amount i have made from scrapping so far
but i noticed on the receipt that aluminium and copper no 2 have dropped quiet a fair bit, this is how the receipt looks.

25 DOM AL $0.90
#1 $22.50
4 AL CANS $0.70
#1 $2.80
50 COPPER $6.00
#1 $300.00
14 BRASS $3.00
#1 $42.00
14 DOM $4.50
#1 COPPER $63.00
TOTAL $430.00
CASH $430.00

Aluminium was $1.10 a kilo a few months back, then it dropped to $1.00 a kilo then down 0.90 cents a kilo where it is now
and also no 2 copper has dropped down from $5.00 a kilo to $4.50 a kilo, from what i can gather the only things that have stayed
the same is brass and copper no 1 the prices thankfully have not changed.

So i was just was wondering what is causing this sudden drop in price? I am very curious to learn the reason behind the sudden
drop in prices. I thought at first maybe it was because of the carbon tax in Australia, is it because of lower demand and if so what
is behind this lower demand? And also is this happening elsewhere in the world and not just Australia?

I am very curious to learn the reasons, and i have searched all over google for the answer to no avail i hope the prices go back up
again real soon.

I hope someone can provide some answers here to my questions.

Cheers take care all thecritta

:D :D :D

I just did aluminium to USA dollars per pound: Australian dollar 1.10 per kilo to US dollars per kilogram to pounds - Wolfram|Alpha, but it looks like your aluminum prices are about the same as what I saw here about a week or so ago. It's a world market, and the prices fluctuate on a worldwide basis due to changes in the overall economy. Here in the USA, the economy at present is unsettled and not particularly strong. This translates into lower factory production, which in turn means lower demand for raw materials. We scrappers are in the raw materials business whether we realize it or not.

The uncertainty about the economies in Asia and Europe is what has led to the decrease in non ferrous prices. The main reason copper has been so high has been the demand coming from China and now that they appear to be slowing down the price is reflecting that.

Copper hasn't dropped that much down here in fl. #1 copper= 3.00 per lb, #2 copper= 2.80 per lb.

Here in SW NY the prices are: #1 Copper-$2.91 lb., #2 Copper-$2.72 lb. The prices haven't changed much from last month.

Hey guys,

I posted a similar thread in "Let's Talk Business". I am interested to hear this coming from Aus. I am working in China and our stocks of Alu have gone up a bunch. The Shanghai index has been pretty steady if not rising, but the amount of Alu stock we see in our yard and others yards is rising quite a bit. This is making it quite the buyers market. For example, the ratio of cast and profile alu price / index price is way lower than it was last year. I am not sure what to make of it myself.

Big picture, China is slowing down for the moment. I am a US guy, but i've been here in China for many many years. I am no expert, but here is my 2 cents.

China is a HUGE trading partner with the EU and all the recent disasters (and continuing disasters) have caused a bit of worry. That said, it's my opinion that even a complete meltdown would jolt the Chinese economy, but not break it. The Chinese government is embarking on a once in every 10 year leadership change. This will happen in Sept / Oct I think. It doesn't matter what type of government, democratic, communist, whatever... the new guy coming in is always cautious at the beginning. And here in China, they have 10yr terms, so they have a bit longer to be cautious and figure out which way to go. Interest rates are steady and bank reserve ratios haven't changed too dramatically from what i've seen, but it just feels like everyone here is waiting on the leadership change here, in the USA, and what will happen with the EU / euro. Over the past year pr so, China has but some serious curbs on private lending and that has had quite the effect on housing demand and new construction so... maybe there is your Alu drop. Why it has been even more pronounced recently... I got no idea. My personal opinion is that within a year China will make a decision as to whether it wants to permanently cut growth to 5-7% per year, or to "release the hounds" and let lending go crazy again. But hey... what do I know?

Anyway, sorry if this is all stuff everyone already knows. Like I said, just my 2 cents. Regardless... let's hope we can get some better prices soon!

USG