Anyone playing around with the steel market would probably be better off buying actual scrap iron. They're basically giving it away in some areas. Better yet, it'd be a really good time to buy a full yard from someone that is ready to retire. [Reply]
Originally Posted by ghak99:
Anyone playing around with the steel market would probably be better off buying actual scrap iron. They're basically giving it away in some areas. Better yet, it'd be a really good time to buy a full yard from someone that is ready to retire.
I broker scrap monthly. My July purchases are projected to be down $90/GT from where I purchased in May [Reply]
I don't know that the market is gonna tank, but a correction is certainly in order.
Just a short term trade looking for a small correction and some profit in a downturn. Nothing crazy am I am going to hold waiting for a big crash. Small profit in a correction, move to cash, buy something undervalued on a dip and repeat if necessary. [Reply]
Originally Posted by ChiTown:
I broker scrap monthly. My July purchases are projected to be down $90/GT from where I purchased in May
I couldn't believe how low the offer was in some areas of the country.
Not that I want to collect scrap for a living, but if a guy had the right place to hold it for awhile it could work out well. My piles all have trees growing in them. :-) [Reply]
Originally Posted by ghak99:
I couldn't believe how low the offer was in some areas of the country.
Not that I want to collect scrap for a living, but if a guy had the right place to hold it for awhile it could work out well. My piles all have trees growing in them. :-)
Right now, I am selling to a relatively unsophisticated buyer. His business is balls out so he just wants to buy without any hassle. I've lowered my price some, but I'm pocketing a huge spread right now on about 3 rail cars per month (~300 NT's). He's happy, I'm happy - a great marriage:-) [Reply]
