Selling or keeping your copper stash?

[wayne1956]

As we all know, copper is the most valuable of the non-precious, non-ferrous metals we normally scrap. I have been hoarding it like many others here, and have accumulated a couple of hundred pounds over the past few months(small by standards of a few folks here, but I scrap on a smaller scale). What I would like to do is start a discussion on if you are hoarding or if you are selling copper as you get it, and if you are hoarding at what point would you be looking at selling. I would like to keep this thread going to the point that if one of the hoarders hears something that is causing him/her to sell their stash, they could post what they have heard so we could determine whether we might need to liquidate our own hoard. Which way do you see copper going in the future?

[Mick]

I've been "hoarding" copper for the past year. I think copper will continue to rise, but not as fast as it has the past few months. Copper price at my local yard went from $2.80/lb in July '08 to 0.80 in Jan to Feb '09. Then started rising and hit $2.50 in Jan '10 and $3.00 in Jan '11. I expect Spring to bring some increase which is normal as the yards get geared up. That's when I intend to sell.

Now, looking at world-wide supply, you see a sharp drop for the past year but it has started increasing (supply) for the past couple months. I think I read that they only had a two-week supply of copper at one point. There are several old copper mines being reopened at great expense and some new ones, which will also add to the copper supply. You will see the overall economy (world-wide) improving which will lead to more copper demand for construction.

Overall, my guess is that copper prices will increase with inflation, but not to the extent we've seen. Of course, this is all out the window if the world sees another recession like we just came through. If we do, prices will tank (again) and you'll wish you'd have sold when they were high - as you take your hoard to the yard to sell for 0.25/lb just to try to put some food on the table.

In the spirit of "full disclosure" - I've also been hoarding iron and most other metals since last fall when the yard dropped to "winter prices".

[Thejapster]

I lack the paitence to hoard i scrap my copper every monday

[Scrap man]

I was thinking about hoarding mine at least until spring when the prices start going up (hopefully).

[Ace]

I'm with Scrap man. I will hoard mine until spring. I still have alot to strip. Plus I think the price at my yard will go up a little by then. I took a load on 11-30-10 and was getting 3.45 for bare bright and 3.05 for #2. So it may creep up some right around 3.70 to 3.90 by spring I hope.

[rca987]

I would hoard, but don't have the space to do so. I cash out every week on everything.

[Ace]

RCA987 do you have alot weekly?

[sjones99]

I guess you guys dont remember when copper was only 60 cents for bare bright!...why hoard it now when its worth 3.50?

[rca987]

RCA987 do you have alot weekly?

By the end of each day, my truck bed is loaded again, and I could have just gone to the store. I usually have 1500-2500 lbs of mixed scrap a week. Most of what I find is on the sides of roads, bulk trash days, and those off the beaten path "dump spots".

[tjlock]

I tend to sell when I get enough to worry about. 1 income form work with a family of 4, the extra money is nice when it comes in.

[Destructo_d]

For me, I wait until I have at least 15-20 pounds to take in.... sometimes every week, sometimes I have to wait a couple weeks.. this is all tubing and such... like plumbing, a/c unit lines, etc.......... I have a 500? gallon fiberglass water tank that is 3/4 full of aluminum and copper wire..... I have been looking for a easy, relatively inexpensive way to strip the wire and i am hoping the prices hold... hoping to cash in by spring with $500 or better

[jerseyscrapper]

I lack the paitence to hoard i scrap my copper every monday

hahah +1 same here maybe every 2nd monday lol

[Thejapster]

It drives me nuts looking at all my copper and thinking how much i have if i had a scale i could wait maybe another week lol

[hobo finds]

I sell. Last year avg price of #2 was 2.48 I just got 3.15. Take advantage of these higher prices while you can.

[IdahoScrapper]

It's tempting to hold out. If I would have held my last copper stash, I'd be $1,286 dollars ahead. (then VS now pricing)

[matt018]

In my area copper is always high, I just fill one or two 5gal buckets and sell it for 50-65 bucks

[wayne1956]

I decided to sell it all and got $245.00 for 70 lbs of #1, 369.60 for 112 lbs of #2 (it was mostly windings from electric motors from compressors) and $37.40 for 34 lbs of #2 insulated. Time to start accumulating again.

[rca987]

One thing i've never figured out, was the difference between #1 and #2 copper. Anyone care to explain? I always get #2 copper at the yard.

[Mick]

One thing i've never figured out, was the difference between #1 and #2 copper. Anyone care to explain? I always get #2 copper at the yard.

#1 Copper - stripped wire strands there are bigger than a number two pencil lead.
#2 Copper - does not meet criteria for #1 Copper. Is free of any alloy such as soldering.
Light Copper - miscellaneous Copper scrap.

[rca987]

Ahh I see. I've always wondered. Google didn't give me much help either. Thanks Mick.