dilema need your opinion

[jhoff310]

ok guys heres the scoop. I have been hoarding all of my non ferrous for about 6 months. I usually take it in the week of Thanksgiving and use it for Christmas $$$$. With the prices going thru the floor do I continue to sit on it and hope and pray the prices start climbing up in the next month or do I unload what I have.
Heres an idea of what I amn sitting on
#1 copper------125-----150 pounds
#2 copper------150----200 pounds
Brass----------------200 pounds
stainless-----------100 pounds
cast alum-------300-----400 pounds
sheet alum-------500-----700 pounds
#2 ICW----------200 pounds
these are just rough estimates. what would you do

Hoff out

 

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[pygmy]

As an outsider looking into your country I can only see rioting and looting in the streets in the months to come.
By all means sell your hoard immediately but only accept cash, as a cheque may not be honoured.
Good luck and best wishes for the future.

 

[Bassfish]

Sell the scrap and move to gold until you need the $$. You stand to gain more that way between now and Christmas.

 

[hyderconsulting]

This is a tough delima as you stated. I really hate to advise anyone what to do right now one way or the other. Myself I don't like selling any metal when the price is in a big freefall which has been going on for most metals. The reason for this is that if a metal price is falling hard and continuing to fall then just like a rubber ball it will hit bottom and bouce back up again. But how far and when is the big question. My crystal ball is a little fuzzy on this one. The best thing I can advise you is to take a look daily a metal prices in the base metal subsection on the Kitco website. It will give you a feel of what is going on even on a daily basis. The metals can fall more but not really much more for most of them they are at their low end on historical prices. This is really the case for Aluminum. I could find Copper falling more but for like Steel and Aluminum they may have already reached bottom. Right now all the speculation is being squeezed out of the commodity markets meaning what you are seeing are the real prices based on supply and demand only. The advice I would give you is to wait just thru next week before selling to see what is going on with prices. You might feel comfortable with that short term risk. Hope I helped. Talk bad about me if I'm wrong. Regards, Chris Hyder.

 

[harker52]

As an outsider looking into your country I can only see rioting and looting in the streets in the months to come.

Ha Ha, you are too funny! Remember this, sh!t flows downhill

 

[pygmy]

I know it's important to try and put on a brave face in times of adversity
especially in the presence of children, but a time has to arrive for a reality check.
I believe now is that time and to sell sell sell.

Yes I know sh!t flows downhill, but in this case the sh!t has hit the fan and again for the second time in a century the whole globe will suffer dire straits due to the greed of a few in the USA.

 

[davest]

this slowdown in prices is not gonna just turn around and jump to the ones we saw earlier the past three years. The wind is finally out of the sails and the prices are back to where they would be if there was no speculation behind them. In other words, what they are paying now is the price they would have been paying if people further up the food chain weren't betting on making more money off of your sweat.

I'm getting ready to unload a bit within the next three weeks, I do the same as you, this is Christmas money. I'll still come out a head, but it won't be that far ahead.

BTW: no. 1 copper is now 1.80 here, that's down from a high of 2.65 last year at this time.

 

[tanner]

sorry kids christmas is gonna have to be cancelled this year

 

[GeorgiaPossum]

I think the only way to surely come out ahead is to take in half now and half later. That way you get the average of the 'good' price and the 'bad' price. If you pick one or the other, you have a 50% chance of selling all your scrap at the 'bad' price.

Of course you don't have to split all your piles exactly in half. You can approximate half of the copper bearing scrap and half of the aluminum.

This is assuming that you have to take it all in by a certain date. If you can afford to sit on it for months longer, you can set your own minimum price that you're willing to accept, and wait it out.

GeorgiaPossum

 

[pygmy]

Do you mean a bit like a squirrel or possum hoards his nuts. He eats some to survive whilst he is hoarding.

Geoff

 

[Rumblebelly]

well Hoff,

when I first read this email I thought to hold on to it. Hoping it comes around. Right now it is just slipping further down the gutter here in IL.

I don't know your situation, but I'm gonna hoard everything I have but steel. I'm thinking of buying a trailer to haul more steel to make the trip worth it too.

let us know how you do. good luck
Rumblebelly

 

[pygmy]

I disagree rumblebelly about hoarding as the huge volume lying around now
makes hoarding :
1. difficult
2.unnecessary as the greater volume you present to the yard offsets the lower price

and don't forget a high volume often gives a better price

 

[Digginnit]

Sell it now. You can't always wait assuming that because metals hit a high recently that they will return. Who remembers when silver hit around $50 an ounce. We haven't seen that kind of money lately. I sold all my junk silver coin when silver hit $18 an ounce a few months ago. Now it's aound $9.

 

[pygmy]

The barter system doesn't work well for everyone.
Check out this site about the difficulties our close relatives have.

http://www.sciencedaily.com/releases/2008/01/080130092136.htm

I think the main asset an individual can have in the future post-apocalyptic world is a skill and not material .