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I know scrap metals are commodities and fluctuate with damand in the market. Iron was low for a very long time then recently shot up. The other day the price dropped $20 a ton at the yard near me. Does anyone see a trend coming? Is this just a blip? China just lowered their prices on iron ore. Is this having an effect? Courious to anyone's thoughts.
it probably does have a lot to do with china they are the worlds largest buyer of metal but the price usually does go down this time of year anyway
I think in this case it may be related to "winter prices". Up here, prices typically go down for the winter, usually hitting the low about now - last year was Oct 1st.
However, China does try to control the price of some metals, but seems more concentrated on aluminum. Not too many are aware of how metal prices are manipulated. Anyone interested should spend some time in KITCO and go to the "NEWS" and "COMMENTARY" section(s). Even then, you'll have to do some projection and guessing of your own. But in the end, you'll guess wrong because something will happen that you didn't see coming.
(Sorry, Andrew - we were typing at the same time)
hey mick who are all the admins? who owns the site? ive always thot it was you
"admin" and "Andrew-MOD" are administration.Quote:
Originally Posted by Scrap Metal Mike
"Parrothead" and I are moderators.
I believe admin is the site owner. He and Andrew-MOD may be business partners.