Steel still sucks! But hopefully looking a little better soon... - Page 4

We just stopped buying steel. Just sold 14,000lbs at 50/ton

Yesterday was 90, today.....55/ton. Yikes

Took a small load in today. Dropped to $40/ton. Payout was $17.20. Enough for a jar of vaseline and some lunch.

i hope we are at the bottom....everybody waited all winter for prices to go up and here we are.....at least aluminum cans are holding steady at .30 cents

My Mother is an economist and she says we most likely wont see a rise in steel until March. Almost no chance of a rise through 2015 and a very, very slow rise starting in 2016. She also says that the price it rises to, probably about 8.5 or 9 cent a pound will be a true value rather than the bubble we had. This is barring further catastrophic global economic events, ie Italy and China artificially inflating the markets

Originally Posted by SteelMill

My Mother is an economist and she says we most likely wont see a rise in steel until March. Almost no chance of a rise through 2015 and a very, very slow rise starting in 2016. She also says that the price it rises to, probably about 8.5 or 9 cent a pound will be a true value rather than the bubble we had. This is barring further catastrophic global economic events, ie Italy and China artificially inflating the markets

Absolutely right!

But be forewarned Copper will continue to spiral down sell it know or be prepared to hold it for years $2.00/Lb is about true value not that $3.50-$4.00 bubble

V/r HT1

One of the yards here in Milwaukee has a listed price of $20/NT this morning....

Today I dropped off 2100# and the yard was paying $0.0375 a pound. I have been a regular scrapper since 2006 and this is the lowest I have ever seen it. All during the economy recession of 2008, it never dipped below 4 cents a pound. This is in Houston, TX. My regular job produces a lot of shred steel so I will still haul it in because other option is to pay to dispose.

I'm just waiting for my yard to post a ""You can leave it here, but we ain't paying for it"" sign.

That's the sign I have at my shop.

@steelmill I actually think it's gonna be 2017 before it goes up again. @taterjuice some people act like they have never seen prices this low. Most people on this forum weren't scrapping in the 80-90's and remember prices like this. Knowledge is power and those who have it will survive.

Originally Posted by PistoneScrapProcessing

@steelmill I actually think it's gonna be 2017 before it goes up again. @taterjuice some people act like they have never seen prices this low. Most people on this forum weren't scrapping in the 80-90's and remember prices like this. Knowledge is power and those who have it will survive.

In 2000 sheet iron was $.0075 a pound $15 a ton

I still collect iron scrap. But I don't go far out of my way to collect it. Remember you still can make that new connection, which can lead to different scrap, or a new ave to make that dollar. $45/ton here