scrap prices
Post Fiend
Joined: Oct 2003
Posts: 5,903
Likes: 1
From: MICHIGAN
I think the prices will go back up when China starts building again.
They must have cut way back for the Olympics....??
Posting Guru
Joined: Feb 2008
Posts: 1,526
Likes: 1
From: Grass Valley, CA
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Posting Guru
Joined: Jun 2005
Posts: 1,554
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100 a ton is still alot better than $5 i went to the scrap yard with a car and a bunch of other stuff and got $40 i was like WTF!
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Posting Guru
Joined: Sep 2004
Posts: 1,096
Likes: 2
From: Ohio
I was going around here to all the old farm auctions, buying every broken non running POS I could get my grubby little hands on, buying old broken forklifts off of ebay, and scraping vehicles, all JUST FOR FUN on weekends. Was getting 296 a ton for EVERYTHING here. I bid on a forklift on ebay, called the scrap yard, and in less than one week it went from 294 a ton, to 83 a ton. I almost made DOO DOO in my pants. I had to hop on ebay and cancel my bid because I "accidentally" entered the wrong amount. I couldnt believe it. I was making 700 plus a week just driving aroun loading stuff up. I didnt mind the high prices since I was making a mint on scrap. Now the trucks just sit there, looking all lonely.......very sad.... LOL
Elder User
Joined: Dec 2004
Posts: 891
Likes: 1
From: Toulon,Il.
The fuel prices and scrap prices have nothing to do with each other but the cause of both are the same.China was buying up as much as they could of both for construction preparing for the olympics.Now since that went off without a hitch they have much more of both.I have a friend in the scrap business and use to be in fuels.China has been demanding so much of both that it was driving up both ridiculusly.The fuel they have will now go on the market bring down the cost.Combine that with demand in the states down as much as 40% in many areas hence 63dollar crude.While that is why the fuel price is down scrap is down because China is no longer rebuilding to show off to the world.Scrap will come back up after the first of the year as it always does.Prices of both have been inflated on the market due to the speculators trading on the futures.With world economy futures not looking so good speculators are bailing.