going for a dive
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going for a dive
I just called my yard and here in Hawaii they are currently paying $0.25 per lbs. for transformers and motors. #2 is going for $1.92/lbs. and insulated wire is at $0.50/lbs.
40 cent drop here. For clean copper. Insulated, brass, ACR, And Electric motor also dropped. Haha imagine that, the week that I save all my Non-Ferrous it all goes down. Part of the game though.
I just turned in this morning #2, 2.31/lb but he told me tomorrow it'll probably take a 30 cent dive.
Market dropped from $3.20 to $2.95 in just the last 48 hours
More incentive now for me to hang on to what I have and let the prices recover.
The goods news is as price drops You will find more (if it stays low for a wile )
& if your a curb hunter ,
Lower prices gets rid of the scrapping posers
You know if Gold or silver drops .30 cents there is talk and conjecture
But copper .30 is a lot
I'm in no hurry, I'm gonna start baling my wire, I know a guy with baler access. What's funny is you know it's some leveraging going on when lead, aluminum and tin stay high. Even silver was unaffected (I think it's right about where it's true value is right now) I'll admit I think the bottom can still come out from gold, it's possible to see sub 1,000 prices again but not very likely, inflation has really crushed the idea of devaluing the comex with buy scares.
China Copper Price Connection
China fears send copper prices tumbling - Mar. 13, 2014
I was fortunate to offload on the upswing, now, it's time to restock.
Still copper backing is better then paperQuote:
Originally Posted by jiffy117
Get ready lots of johnny come lately copper gathers are gonna not bother and be gone .
should be interesting to see the 1 oz copper round market
OK so what are we looking at
copper spot $1.75
remember when silver was $38 a few years ago
$21 $22 now seems to be it now and staying
So copper could go half and stay that way for a for a wile.
yeah it is down to like 2 bucks at yard i deal with i am just gonna store and strip mine and see how prices do in a bit. just have to watch the values see when to sell
There is a positive spin .
Usefulness ,
copper can go down but it's foundation is real , at-least as real as us humans can keep consuming and thriving our thirst for life is the foundation
The Internet article is showing us the true value of our copper regardless of price per pound . I did not realize copper was used in huge amounts as a metal of collateral .That changes my view much . Now we see the thirst for copper goes beyond appliances , bullets , Business use it as MONEY . They can and will use it based on current values
I dare say 700% above spot copper coins is still possibly going to be excepted as a collateral along with 5 tons of nickels or any copper coin if the SHTF
I think its not if - its when .
We must keep in mind our paper money is what is playing games for now we get less fiat for our copper thats basically it.
Copper is a "REAL" Barometer on economy situation and status, whats that mean for us? Not that smart.
With the slumped economy I am not surprised since there is not quite so much demand. When the economy starts picking up, so will demand, and such so will the prices. MHO.
At this rate, by the time copper comes back, I should have stored up a ton.Quote:
Originally Posted by Copper Head