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The market for copper and steel is pretty normal right now. Both have been much higher, but have also been lower.A lot of people complain about steel prices, but I think the market right now is what we should expect from steel.The market for copper seems to be much better and seems to move faster, too.
I'm wondering if I could be holding some copper, is anyone here holding for higher copper prices or are you still selling regularly?
you would be well served to move all the copper you get. Any day now we can expect dissolved trade deals that will reduce the demand by conventional means.
The 'market' is cooling off from the huge Chinese expansion .
I'm expecting prices on normal metals to go down another 10% - 20% by January 2018.
I'm expecting rare and precious metals to stay somewhere in their current price range.
Are you scrapping more today because you think the market will drop in the future?
For those that know my history, I started to clean the steel at two farms because they want it out of there and willing to give it away. I am still holding my non-ferrous as a cushion and since it is in my shed on my property, no one except the horses, cattle, and my self have to look at it. It will be used for a retirement backpacking trip for my wife when she retires. We plan to hike the Appalachian Trail thru in one trip in 2018. Still stockpiling the rest but have to pay for a semi I just bought. Yes the steel on these two farms plus what I have will pay for the semi even at these prices.
Funding retirement and funding a business venture is a bit different, I can respect not letting the bank have the money to play with themselves lol!
You are absolutely correct. I was lucky when I was working to save for a rainy day and to buy items that eventually became very valuable in my present life style. That included trucks and trailers to haul horses, welders, cutting torches, and tools. All of the money from scrap ferrous sales has gone back into the business. This includes two large loaders, four trailers, a dump truck, one skid steer, repairs, parts, supplies, and now a semi. I am working on a deal for a semi tub trailer right now which will be my next purchase. The deal at this point includes creating game trails as the owner has lots of hunters. How can a person do this? I live a pretty simple lifestyle, two meals a day, repair equipment for neighbors, and networking. I eat home grown beef, hunt, fish, have a garden as do my neighbors, and willing to do odd jobs traded for the use of tools or other needs. The non-ferrous is gravy on top of everything else. To make a long story short, I use ferrous to fund the business (I do not get a salary) and use the non-ferrous for rewards which I could not afford without it. Yes I live below my means and will until the day someone has to wipe my a**. I have two financial advisers, Clark Howard and Dave Ramsey although neither were syndicated when I started this path. Anyone interested in financial freedom should check out their web sites and pod casts. Did not mean to derail this thread, but this advice will help select your tools, time to buy them, and how to run your business and personal finances.Quote:
Originally Posted by armygreywolf
So the bottom line is to control your finances and the rest will settle into place.
For me Dave Ramsey is the man. Mike
I like Dave Ramsey but I don't agree with his outlooks on gold or credit cards . Granted most people can't handle the responsibility to pay their bills but I have seen some bad advice come from him on certain topics .
https://youtu.be/vfU5CwdkSUk
Me personally , I sell my steel and copper monthly , I don't get that much copper but if I were to save steel I would need another building to store it , I would recommend selling periodically to free capital and valuable space .Quote:
Originally Posted by mitscrappr
Most farmers around here sell their corn and soybeans on futures every couple of months, that way smoothing out some of the volatility of the inter-seasonal price fluctuation. And often they keep a certain percentage free of contracts to take advantage of any quick upwards movements. They're always moving some "product" while while holding some back. Maybe that's a strategy for something like copper. But you've also had some forum members who do quite nicely stress that by turning money over several times vs. sitting and waiting for the optimal price, gets them further ahead. I wasn't real excited when copper was down at $1.25 or light steel 2 cents or less but copper ranging $1.60-1.90 or "tin" at 4-5 cents, I have no problem selling my little bits that I get for that prices. Still above the historical trends even when adjusted for inflation, just not at "I've hit a home run in the World Series" prices...
For the most part I sit on my copper, I have no reason to sell it. And I like to see the pile grow. (I did sell some recently to fund my vacation.) Like Patriot, I also live a simple life.
"If you want nothing, you have everything" - The Budda