Our scrap iron prices have dropped dramatically over several weeks — from a high of nearly $250 /ton to down below $ 130.
What signal is that sending thru the economy ??
Most of our junk cars and PU’s have already been hauled in , so our area is lots cleaner.
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Apparently the dummasses around here haven't gotten that news yet. Over the weekend, two 50+ y/o men got arrested when they were trying to load a 20' piece of train rail that they just unhooked from an in-use track into their p/u to haul to the scrap yard.
The story that I heard says when they were accosted, one of them asked the officer to show him a serial number on the piece of rail to prove it came off of the track that was missing a 20' piece of rail about 10' away from them.
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Apparently the dummasses around here haven't gotten that news yet
Might be dummasses but they must be strong dummasses, hell a 20' piece of rail could weigh close to a ton depending on the size of rail! But they're still dummasses!
Around here the geniuses seam to like to take the aluminum guard rails off of bridges. Probably a regional thing.
Doug
i feel the metal scrap industry is one of the true workable "recylecable products" out there. but somehow they got to get a handle on this stealing metals of all sorts. i have no idea how but these guys are causing maybe 5000 damage to sell some copper for 100.00 bucks.
around here we have about 8 places to sell i'm not sure that a uniformed officer be assigned to each place to check id's and take photos of the sellers. let the scrap yards supplement the pay . larryif a man speaks in the forest,and there's not a woman to hear him,is he still wrong?
May depend on what is in the back of your truck.
I try to put the engine blocks, etc on top, if you put a crushed car body on top you may only get under $100 a ton here, as the guy looking down from the scale figures he's also buying some water soaked car seats, etc.
think most cast iron or heavy melt is still over $200, at least here (west coast, where it never got as high as the East cost or steel plant areas, not even 50%!!.
US H1 scrap prices remains steady
On July 28, the average price of H1 scrap and No.2 bundle scrap in Pittsburgh, Chicago, and Philadelphia were US$523.16/long ton and US$479.50/long ton, which remained the same as last week.
Specifically, the average price of H1 in Pittsburgh was US$524.50/long ton; in Chicago was at 514.50/long ton; in Philadelphia was US$ 530.50/long ton.
In the Eastern coast, the average price of H1 scrap in New York, Boston and Huston was US$478.83/long ton. In western coast, the average price of H1 scrap was US$214.33/long ton.
Source: Yieh Corp.
PS: DW says the back yard is cleaner too!!!
Edited 8/4/2008 7:19 pm ET by junkhound
Must be a temporary lull in demand. Worldwide prices are up on the long contracts.
I had an investment newsletter awhile back that made an interesting forecast.
They said that on a certain date a few weeks before the Bejing olimpics were to start, that China was shutting down certain industries - the ones that make the air dirty around there, and that this would cause a drop in some commodity pricing temporarily for a good buy point.
sure enough, almost to the day, they were right. Commodities spot pricing has been off for a couple weeks now.
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Years ago when I was in the storm window biz I had about 75K of custom aluminum extrusion stolen from a locked yard with guard dog. They left a pile of aluminum so I figured they would come back. Didn't have a beartrap so I layed out on the roof (winter time) with a 30-30.
In the end I was cold and pissed. Decided to move to security products and used standard sized tubing and hot rolled stock. Seems like the price at that time (1970's) was about .01 a pound for scrap iron and up to .70 for virgin aluminum. Tyr