Hold on to your copper

[scrapsearcher]

http://www.bloomberg.com/news/2012-0...mmodities.html

[Dunemaul]

lets hope so

[BRASSCATCHER]

started scrapping in jan and havent turned in any yet. Hopefully the "experts" are right.

[erewen]

The Feds inflationary policy will assure that prices will increase - but not necessarily the purchasing power of those dollars. As the economy recovers, I hope that demand will increase. Anybody know what China has done with their massive stockpiles? Still sitting on them?

[PistoneScrapProcessing]

Scrapsearcher I have to ask this question. How long have you been scrapping for? Do you remember the great copper bubble of the mid 90s?

[taterjuice]

I don't know how much I believe this experts, its just a guess, although well informed still a guess.

[EcoSafe]

!. not sure I would believe a dam* word from goldman sacks.

is our economy realy turning around, or is that election year retoric.

rhoumor is that chinas economy is slipping.

so ?????????

[hobo finds]

How much more can a small time scrapper make trying to time the market? Here are my average prices since 2008 for #2 copper...
2008 $2.45
2009 $2.03
2010 $2.48
2011 $2.99
2012 $3.00

The low was $1.90 and the high was $3.30
And I wish I had the average gasoline prices for those years to compare!

[jbravo54]

this is how i see copper technically. this is a weekly chart of copper. it goes all the way back to a low in 2009 and it took almost 2 years to climb to its peak. copper has followed the broad markets until recently. this last run up starting in the fall, the stock markets were able to make new highs, whereas copper could not make new highs. hmmm.

i have heard that copper is a leading indicator because of its use around the world, which makes sense to me. if there is a demand for copper the price goes up. if copper can break above the blue line on the chart, it will then make an attempt to break out into new highs. if not she will continue sideways. being the bear that i am, i believe she is about to tank, because is it good out there? more scrappers than ever, construction and housing is still down, the list goes on. so i say sell. if it goes up, then get more and sell again. i have been wrong before, and ill be wrong again.

[kbob]

read in our local paper a couple of days ago that Sony in Japan will be reducing there workforce by 10,000 people.There reasoning being that T.V.s are not selling.T.V.s equal copper right.Maybe the amount being used is a drop in the ocean...??

[taterjuice]

Sell sell sell ! Couldn't agree more. There's always more copper waiting to be found

[jerseyscrapper30]

Just sold 20lbs of #1 yesterday. I'll keep selling, no need to hold on to it

[Mechanic688]

The price at our yard went down some since the last time I sold. Bare Bright was only $3.40 lb here. #2 clean $2.90 and #2 insul. was $1.15.

[kbob]

#2 copper here in Central Il.has fallen to 2.95 a pound.Time will tell I guess!

[ScrappinRed]

my # 2 never got OVER $2.90 a # in recent months...

[Dunemaul]

Still getting 3.10 for copper 2 here

[jbravo54]

just got 3.15 today.

if in favor or not, i am going to start a weekly or every other analysis of copper. i used to do alot of trading and i love looking at charts, so i will start something like this for the forum. i am somewhat new to scrapping, so my 2 cents with that is below par. i feel the need to be able to help out some way, since you guys have helped me with so much.

[Mechanic688]

http://www.metalprices.com/