Massive drop in prices (UK).Hows it near you?

Good evening all.
Here in the UK steel/iron prices have dropped £40.00 a ton as from this week .
Light Iron below £100.00 a tonne($157 ton/$0.07 Lb) was £140.00
Higher grades were £195.00 a tonne now £155.00 ($243ton/$0.11Lb)

Wow what a large fast drop this is . I mainly deal in copper and brass which are only a bit down (So far)
How are prices doing where you are ........I can see a global drop on the cards..

A bit of a rant but it was a real shock (and yes i called other metaligists and they were suprised too)

Stay safe , enjoy , chill , scrap it
British

Drop here as well. Small yard went from 120/ton for everything to 80/ton (mixed) and 120/ton (clean) for light iron. I think Schnitzer went down $20/ton for mixed/light iron...165 or 170/ton now.

went to a yard here in SWFL with some shred. price had dropped $1.50 hundred in last 10 days. They said it will be at $6.00 by end of March. Is this the trend or is it a game they are playing? the owner is a prepper/doomsday prophet/nutjob so its probably BS,but would be good to know if it is going to happen.

"prepper/doomsday prophet/nutjob..."

Makes me laugh, as this has become a hot topic recently. Learned some interesting things from the "prepper" I spoke with, though. KNOWLEDGE IS POWER!

$150/ton for tin.

When I went on Saturday, shred dropped $20 a ton since I last went at tge end of January. Everything else stayed the same for the most part.

All this month shred,sheet iron was at 250/ton and cast iron at 260/ton. Was up to 275/ton for shred in January.

Fasten yer seat belts and dawn yer parachutes boys and girls, this could be just the beginning for Ferris metal.
China, Turkey, and Japan have all cut back projected early and mid buy projections.

Large hard commodity players like, Birkshire Hathaway are divesting retail/consumer stocks. My opinion is Gold is going to make another run. India buyer of 30% of the worlds gold is slowly cutting its excise tax on gold imports. Many big players are predicting a 2014 burst of the stock market bubble, as much as 50%. I'm no expert but I reada lot of what those who claim to be write. Just my .02 mcw

$155 a ton here

Way old thread....

But it NZ$225 for heavy iron per ton and NZ$170 for lightgauge iron

It's kind of an old thread but it was this year.

From what i've heard there are two parts to the recession. The first part is the inflationary side. That's where they put a lot of new money out there into the market. That drives prices up up up.

It hits " the crest of the hill" so to speak. Prices get so high that spending stalls out.

From there comes the deflationary slide down the other side of the hill. Prices start to drop and money becomes harder to come by.

It's not much fun but it's been going on this way for a long time now. I was reading something written by Thomas Jefferson close to 300 years ago and he made mention of the inflationary/deflationary cycle.

He blamed the Banksters for it. ;)