Do you anticipate a rise or fall in general in the next month or two? What index or info source do you use?
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Do you anticipate a rise or fall in general in the next month or two? What index or info source do you use?
We were advised a week ago steel will drop across the steel board prices April 1st. It is not unusual to hear a drop and see no change, but 2 seprate yards notified us.
The magic 8 ball says....It is decidedly so.
If anyone knew for sure what was going to happen they would bet everything on red 8.
This market the last couple years has made fools out of alot of people. Don't fight the trend....either way.
http://www.kitco.com/
http://seekingalpha.com/
http://stockcharts.com/
Some reading material.....
You could always try a tarot card reading......
I prefer wetting finger sticking up to see which way wind is blowing
Skipp, I think I'm startin to like you.
i told ill grow on ya too bad like a tumor
Up or down who cares the drop or rise wont be significant heck it could go sideways either way mills will still buy and yards will still ship.
My guy says sideways or up to counter the fuel prices, he's usually on target so I'm not sweating it. Either way still making money
I know mobo prices are dropping like a mofo next week :-(
I expected a diffrent response from this crowd. The last week of the month is usually a touch and go week for us. course we are usually sitting on a fair amount of material. This month was diffrent because our buyers warn us usually a week out and we have already moved the bulk of our material. We even had time this month to haul our own Converters and aluminum wheels. I love converter day. once a month we make money like we used to back before everyone did it.
unfortunately ignornce is bliss.Quote:
Originally Posted by Rio
People don't sweat steel dropping a penny or two, yet they will clean metal all day to make an extra 5$. I'm surprised. I think a course in 101 math is due. We will start todays course and call it tonnage.
And the cashier at my yard did confirm. Todays 230$ ton will be 200$ per ton tommorow. Fyi for all you math wizards that's only 1&1/2 cents a pound. No big deal though... Right?
a little worried as my yard has moved out almost everything, starting last week. I hate going to the yard when its empty of stuff as it seems that the prices will be low while they start to stock pile stuff...
If you knew the answer to your own question above....then why did you ask in the first place. Your yard is dropping sheet iron almost 13% in one week based on what? A guess? This "math wizard" thinks you need to start making some calls and shopping a bit. For three years people have been calling for a market crash....guess what...if they traded the way their gums flapped....they would be living under a bridge right now. Don't fight the trend until the trend confirms a breakdown. Start looking at a few charts and start looking at some 50 and 200 day moving averages. By the way....start looking at a dollar index chart.....king dollar runs the show.Quote:
Originally Posted by Russell
On a side note......my yard just increased their aluminum prices across the board by 10% within the last week....
Disclamier: This is not investment advise. Do not base your buying, selling, trading, or future whatever on anything I say. DYODD.
I do and I do, Victor. This was not about my opinion. This was about others opinions... I'll refer you to the original post.
Did I not read a post on here about copper maxin out around june according to historical data..let steel drop a 1/2 cent no difference to me...am sad gold is on the downside though...
:p:p:p:p:pQuote:
Originally Posted by Russell
"When I was fourteen, my father was so ignorant I could hardly stand to have him around. When I got to be twenty-one, I was astonished at how much he had learned in seven years."
Mark Twain (1835-1910) U.S. humorist, writer, and lecturer.
"The mark of your ignorance is the depth of your belief in injustice and tragedy. What the caterpillar calls the end of the world, the master calls a butterfly."
"Ignorance is like a delicate fruit; touch it, and the bloom is gone."
Oscar Wilde (1854-1900) Irish poet and dramatist.
"In the battle for survival the ignorant man has a considerable advantage."
"I am not ashamed to confess I am ignorant of what I do not know."
Marcus Tulius Cicero (106-43 BC) Writer, politician and great roman orator.
:cool::cool::cool::cool::cool:
Is it kind of like buying a 12 pack of diet coke for 5$ to make 12 cents on the cans ?
I do not live and die on the penny and will rarely pick one up if I see it on the ground. That being said, my frugal ass does notice when I drag 1000 pounds across the scale and get $130 as opposed to $120.
I pay for most of my scrap so I adjust what I pay out to keep the same profit margin.
What I am hearing TODAY is that the market will be sideways for the rest of April. My yard doesn't usually change the price until a few working days into the month just so we can see where things settle out at. At the worse we will be down $10 for April. Quick to drop prices and slow to raise is most yards mantra. Russell, I would start looking for another yard if yours just dropped $30. They were clearly speculating of extremely long for March.
Aluminums are about the same and should remain so. Copper is all over the board usually, so flip a coin to decide whether or not to bring in your load this week or next. Stainless is slowly recovering from the big hit it took 2 weeks ago.
Wow a grown up answer! Thank you. I've been hoarding my stainless as well in hopes for recovery.Quote:
Originally Posted by BohemianLush
I have stainless. I believe I have 316 & 304. Yard wasn't interested in using the gun unless it was "a lot of stainless". I didn't inquire as to what a lot is.
What event occurred that SS took a hit 2 weeks ago?
My yard pays 50 cents a lb.
We are sideways for now but car bodies will be down 5-10 by end of week. We watch the markets but our greatest asset is selling to good paying honest companies. The only buyers we have to watch closely is our core buyers. Never found an honest one yet.
Flip a coin! Heads, it's going up. Tails, market is heading down......
Either way old tater gona make money just the sameQuote:
Originally Posted by Big Tex
316 is sometimes marked with a mill mark identifying it as 316.Quote:
Originally Posted by IdahoScrapper
As far as why stainless is down so much...it took a $0.16 hit in one day and then dropped another few cents the next. A butterfly flapped its wings in Greece or China's demand drastically dropped. Today my yard is paying $0.63 for 304 and $1.02 for 316.
What's this referring to using a gun and stainless please enlighten me
One of these.
http://www.ebay.com/itm/NITON-XRF-AN...item256ed7e114
I should put in a bid on it!
If only had a extra 12 grand to blow
lol, i try in see into the future and hang onto stuff that might go up in price.gold, silver, copper... but im crazy like that... What will the future be like??
Will copper go way up if they start replacing gasoline engines with electric?? Will all metals get harder to mine from rising energy costs?? How will other countries advancing effect demand it? What if we need lots of rare metals for advancing in space.. and TONS of ohter metals!!? Lol, just like to wonder.
Thanks for the clarification Joe when yall mentioned a gun was wondering 12 gauge or 30-06
Thats actually a really good deal on the Niton. Those things retail for 30k-40k.
at .77 a pound you get 2 cents for the cans here! LOL And if a see a penny on the ground I pick it up!Quote:
Originally Posted by Russell
I sell the metal as quick as I can process it.....They are gonna pay what they pay and you are going to haul it either way......LOL
Just found out today my yard is going sideways this month, great relief cause got another. 40 or 50 ton to move this month
Not my non ferrous, I can set on that for awhile for the prices to stabilize.Quote:
They are gonna pay what they pay and you are going to haul it either way......LOL