Automotive Scrap Metal

[cptbarkey]

Wow, a little bit of a shell shocker to me. Oil has plummeted, as well as most metals. I calculated to obtain an entire $60-80 bringing in my 2007 kia spectra shell to be compacted. Instead it is now parked and will likely become a wildlife sanctuary for several months until the markets moderate. Prices literally plummeted well over 50% the last 3 months. This month is a new low, if it will be the bottom is catching the falling knife I think. Not to mention all the recycling folks out there who i'm sure are suffering along with the oil workers.

 

[Vern_in_IL]

Good.

The market was overheated, really overheated... When tweakers start ripping off their aluminum trailer siding, you know prices are too high.

 

[tig1]

Bad!!
Many are now losing their jobs because of this. US Steel in Granite City, Il. is closing the entire plant. Over 2000 jobs are lost. Grossman scrap in St' Louis is just about to shut down as well.

 

[Tegger]

Originally Posted By: Vern_in_IL
The market was overheated, really overheated

"Quantitative easing" has itself been eased. Plus the Fed is talking about raising interest rates. As far as I can tell, these factors are what have sent commodity prices downwards. I think it will be this way for a while.

 

[SilverC6]

All the meth heads will have to hit the brakes on their habit if scrap metal is down.

[censored] scavenging thieves.

 

[Chris142]

$.03 a pound here

 

[Vern_in_IL]

Originally Posted By: tig1
Bad!!
Many are now losing their jobs because of this. US Steel in Granite City, Il. is closing the entire plant. Over 2000 jobs are lost. Grossman scrap in St' Louis is just about to shut down as well.


Oil price is still higher than that of ten years ago. In 2005, oil price was $20 per barrel. Oil countries and oil company robbed us too much since then.

The U.S. economy is 70% driven by the consumer. How can anyone think low energy prices can be bad?

 

[HerrStig]

Originally Posted By: tig1
Bad!!
Many are now losing their jobs because of this. US Steel in Granite City, Il. is closing the entire plant. Over 2000 jobs are lost. Grossman scrap in St' Louis is just about to shut down as well.
A lot of steel would have gone into Keystone.

 

[zzyzzx]

More importantly, how much to junkyards give you for cars now?

 

[bullwinkle]

Originally Posted By: zzyzzx
More importantly, how much to junkyards give you for cars now?
Last I saw was $80/ton. It was $220/ton around the first of the year. Anybody heard if China maybe stopped buying it?

 

[parkertown]

Originally Posted By: Chris142
$.03 a pound here



I dropped off some aluminum cans at the local scrap yard yesterday. They were paying 45 cents per lb. I asked the guy about scrap metal and he said it was only paying 4 cents per pound.

 

[GMBoy]

Originally Posted By: SilverC6
All the meth heads will have to hit the brakes on their habit if scrap metal is down.

[censored] scavenging thieves.



I know that's right!! I had a meth head steal the copper out of my new home while under construction. They caught him and charged him with a felony metal charge because he has so much stolen copper in his possesion.

 

[HTSS_TR]

Originally Posted By: Vern_in_IL
Oil price is still higher than that of ten years ago. In 2005, oil price was $20 per barrel. Oil countries and oil company robbed us too much since then.

Oil is a finite resource, when it's out it's out.

Who determines the value of a finite resource ? User/buyer or owner/seller ?

I think crude oil at $50/60 a barrel is very cheap. If China and India economy are growing at 2005-2010 rate the supply of oil would not meet demand and price can be close to $200 a barrel.

 

[Yah-Tah-Hey]

Originally Posted By: GMBoy
Originally Posted By: SilverC6
All the meth heads will have to hit the brakes on their habit if scrap metal is down.

[censored] scavenging thieves.



I know that's right!! I had a meth head steal the copper out of my new home while under construction. They caught him and charged him with a felony metal charge because he has so much stolen copper in his possesion.
Saw in the Omaha World Herald this week that someone stole $300 worth of wiring off of a center pivot. Probably a meth head.