Yards must have some aggressive buyers out there, because my local yard has gone from .40 for #2 no plugs and .25 for #2 with plugs to .80 no plugs and .60 plugs in less than two weeks. #1 wire is now 1.20. Christmas lights have even gone up from .10 to .15. I'm sitting on about 500 pounds of wire with plugs, so this stuff may be sorted out very quickly.
I keep an eye on copper prices, and figured it would move up some with the latest burst in prices, but not quite this much...I'm guessing one of two things is going on...either they expect more market price increases or lots of copper scrap suppliers are sitting on very small stock of copper and need to raise stock to sell to refiners quickly.
Some of this price movement was related to Trump's victory and calls for infrastructure improvements, part of it was probably just price action, as it was already moving towards the top of resistance. If it does go higher, $3.00 is likely for the next place for it to bump it's head. This move seems very shaky to me though, because economically nothing is really doing better than it was before, hence real need for metals isn't much higher, and similarly until Trump gets in office and gets serious about infrastructure, it is all wishful thinking. If you have been waiting for awhile this could be a good time to get rid of your metal, or at least go half to the yard.
Well sorry to tell ya but you have been gettin shafted...#2 has been worth over .80 even when copper was lower...i would look for new yard lol
Maybe it is the only yard so they can set whatever price they want, Or the location is so bad that shipping it somewhere profitable costs a lot. I have been paying $2.00+ for clean copper for the last year or more.
2.00 is only 1.47 here in usa
Yes, forgot about the exchange, I should have said $2.00 CAD
There has been a number of responses claiming that copper prices have been higher than you mentioned. Here in Mesa Az all three yards I deal with and are not connected in any way are paying lower for copper still. Today I sold about a ton of shred steel and made 3 cents a pound which is up from last week's 2 1/2 cents a pound. The yard owner did tell me however that copper has gone up up here significantly. I have lots of it stashed and he knows it. It has to go up lots more for me to even get interested in loading up my hoard and selling it. What might be high on the east coast is not on the west coast.
Went to my buddy's yard today.........Prices up across the board however nothing doubled.........Few cents here and a few cents there but every bit helps
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i suspect this is just a false /temporary reaction to Trumps promises
and soon, when it becomes clear that hes no better than those before him, prices will drop back to where they were
or maybe even lower
so i would suggest all of u in the US, Canada clean up and take in your copper now, otherwise who knows when we will see better prices....
just my opinion about this.
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