How low do you guys think copper could go? The yard I go to had it at about $3.50 a couple of months ago, could prices drop as low as $2? Just wondering what has happened in the past.
Experienced Scrapper
How low do you guys think copper could go? The yard I go to had it at about $3.50 a couple of months ago, could prices drop as low as $2? Just wondering what has happened in the past.
Metal Recycling Entrepreneur
Depends on the economy and bigger still, the Chinese economy, see bad news about either of these and expect it to go down. More QE either by Fed or Europe along with the miracle of an improving outlook will send it up. Currently if you look at the daily chart for copper there is a big hammer at $3lb LME price indicating very strong buying at that level so this should prove strong resistance to break. Rumours are that the Chinese stockpile at this price so they have for the moment put a bottom in for the market. Copper won't go down to what it did in the past, all the easy metal has been found, now new ore is harder to find and costs more to mine.
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It could go way lower! In 2000 I was getting .43 a pound for Copper, .41 for Alum cans and steel was .01 a pound...Originally Posted by rgd76
Metal Recycling Entrepreneur
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Gas was also $1.50...will that happen?...lol
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No! But eggs were not $2.09 a dozen then as they are now! I guess you get screwed all the way around! What was the spot price for copper in 2000?
Last edited by hobo finds; 09-28-2011 at 04:19 PM.
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looks like .80 cents . http://futures.tradingcharts.com/his...ontinuous.html
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It's 2.90 here...Not too far off
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