Copper Prices Took A HUGE Dive

I havent checked the prices lately but, about a month ago, i took a couple loads of iron into my yard. About 600 pounds just in rotors. Iron prices were the same for me as they have been over the past year. I asked about copper and it was all the way down to $2.55/pound and thats for #1. The last time i took a load of copper in, it was still over $3. Anyone else getting hit hard like this?

Originally Posted by Metalbestos

I was told my yard not to sell any copper till spring . Surprisingly aluminum has increased a few cents per lb with a additional .05 c a # for loads over 100 #

I was thinking about holding onto mine until spring as well. I need the money but not bad enough to give it up for $0.50 less per #

I'm getting around 2.60 for bare bright, but i buy my copper based on current market price, so i pay less. Hoping prices hold or improve like everyone else..

#1 is only .10 more than #2 for me, lame. I liked it when I got $3/lb for #1. Maybe it's just the yard I used. Got $3/lb at a different yard a couple years ago.

Originally Posted by Soobthang

#1 is only .10 more than #2 for me, lame. I liked it when I got $3/lb for #1. Maybe it's just the yard I used. Got $3/lb at a different yard a couple years ago.

Earlier in the year, i was getting close to $3.40. I noticed it was slowly going down but i never expected it to drop like this though

$2.47 Clean copper and #2 Insulated Copper Wire was $0.70 yesterday. The yard is expecting a "drastic drop" the first of the week (in ferrous at least).

Originally Posted by Lurch

Earlier in the year, i was getting close to $3.40. I noticed it was slowly going down but i never expected it to drop like this though

$3.40/lb seems obscenely high consider copper comex futures havent been up to 3.40/lb over the past year. Comex is what the refinery makes at the end of the purification process. For you to get a prices higher than everyone else in the supply chain seems suspicious. An old scale to trick is to pay more per pound but take weight. be careful

when gasoline prices go down so do all the metal prices...gotta take the good with the bad

As of today Dec 1, #2 copper is down to $2.23/pound in the Milwaukee area.