Scrap Metal Prices

[SS MAYFLOAT]

How is the rates in your state for scrap metal? Presently here in Ohio the rates are up paying top dollar. <br /><br />I hear that China is buying up all the scrap metal that we have. Is something going on that we need to know about? It takes a lot of steel to make armor plating. <br /><br />If it was up to me, they would only get the metal from the cars that were made in the mid 70's. After all that metal tended to rust away prematurely. <br /><br />Just something to think about. I just think it is leading to something that we will regret later.

 

[eurolarva]

Re: Scrap Metal Prices

The new ICBMs they are building need high quality steel for good electrical conductivity.

 

[Whaler Proud]

Re: Scrap Metal Prices

I believe the scrap metal run by China has more to do with the falling dollar than armor plating, even though some of it probably goes for that.<br /><br />By buying our scrap with Chinese currency (which follows the dollar), the Chinese can import it, refine it, and then manufacture products that can be sold in Europe for a substantial profit just on the currency float.<br /><br />Manufactured steel products are rising in price daily (re-bar, steel studs). The US steel industry is exporting steel at record rates because of our weakening dollar. What they sell in the US is priced to return what exporting does.<br /><br />Unfortunately, until interest rates rise and our treasury becomes a good investment for foreign capital, we'll see more of this. On the other hand, the situation can create more manufacturing jobs in America. I have been following the foreign automakers, and almost all of them have plans to build or expand manufacturing capability in the US for export purposes.

 

[SpinnerBait_Nut]

Re: Scrap Metal Prices

The rates here must be good too.<br />I was coming back from my run this am and went by the one scrap yard and the tractor trailers were parked for what looked like 2 blocks waiting to get in tomorrow morning.

 

[SS MAYFLOAT]

Re: Scrap Metal Prices

I keep getting people wanting to haul my junk out. Guess I'm going to chain/lock it down, but they would just scrap out the locks and chain too! After all a pack rat has to protect his treasure!

 

[18rabbit]

Re: Scrap Metal Prices

I posted this in another thread last week… China can’t get enough scrape metal. Supposedly, they are developing their infrastructure and using the metals for communications applications. Way too much metal for those needs. She is exactly lock-step in-line with Japan prior to 1942. China’s acquisition of metals is on time for a scenario of war.<br /><br />Btw, China is also beefing up her military armaments at an alarming rate…another use of scrape metal.

 

[roscoe]

Re: Scrap Metal Prices

Druggies in Milw have stolen 200 manhole covers and sewer grates since the first of the year, turning them in for scrap value.<br /><br />Use to have to pay $10 to dispose of a washing machine. Last month, they paid me $14.<br /><br />They are also paying to clean up abandoned cars and old farm equipment.

 

[Paul Moir]

Re: Scrap Metal Prices

Correct me if I'm wrong, but I am under the impression that the price of scrap is up because the price of steel is up. And that the price of steel is up because of China's demand for it.<br />I would think that it would be unprofitable to ship close washers, derelict car bodies and manhole covers from North America all the way to China, just so they can be melted down and shipped back.

 

[roscoe]

Re: Scrap Metal Prices

Yes Paul, Scrap metal dealers are scrambling to get as much as they can because the price is up on new steel, therefore it is up on scrap steel.<br /><br />Which steel gets shipped to China is up to China.<br /><br />Who would think you could ship bananas half way around the world, and then make a profit on them at 33 cents a pound?

 

[Paul Moir]

Re: Scrap Metal Prices

Who would think you could ship bananas half way around the world, and then make a profit on them at 33 cents a pound?

Good point. It's not like they're sending them UPS, so that gets pretty intricate.

 

[DJ]

Re: Scrap Metal Prices

 

[Paul Moir]

Re: Scrap Metal Prices

EDIT: I think I understand. I've got to stay out of this forum too.

 

[Peter J Fraser]

Re: Scrap Metal Prices

We produce about 1500 tons of scrap from our yard (parting out construction equipment) each year and our scrap buyers have told us the same story. China is buying everything they can from where ever in the world they can.<br /><br />Who knows when this will end.<br /><br />Peter

 

[Mikevn1500]

Re: Scrap Metal Prices

I'm a shipper in a steel processing plant. The owner of my company bought $1,000,000 worth of steel coils for our product on March 1 because on March 22 the coil prices were going up 22%. We then found out it was going up another 12%. We have been making products for another manuf. just to keep them in business,because they cant find any steel.(This is kind of cool for my boss to do)Although they are paying for it. Anyhow I have been there for 15 years never layed off. Now we only have steel for 2 more weeks and the talk of layoff is going around. But the steel mills are happy shipping all the steel to china. If our steel went up 34% what is that going to do for the price of cars and trucks?

 

[Bored To Tears]

Re: Scrap Metal Prices

right before christmas, aluminum was paying 65 cents a pound, now its 44<br /><br />so steel is up and aluminum is down, interesting ...<br /><br />all the armor in the world is useless if its stuck in china, how is their navy doing? (then again, how many troops can you ship in a container ship? remember the old motto, dammed clever those chinese!