Sold a little copper today

[dumpdigger]

In Ks I sold a little no1 copper today for 1.70 and some cans for .30 The cans were starting to over run me.

 

[snake35]

I might have to sell some cans myself, but I am holding copper and brass for two reasons. I think prices will rise soon and it is a good hedge against the coming inflation. Sorry for being a prophet of doom.

 

[snake35]

Copper rose 0.11 cents on the com ex today, Which probably only raises scrap price a nickle. Still a move in the right direction!

 

[snake35]

I was wrong in my previous post. I called both my local yards and #1 copper is still 1.55 per pound.

 

[davest]

unless you have like 37 tons of either metal there isn't much hedge against inflation.

 

[snake35]

And I thought I was negative. 17 tons! Where on earth did you come with that number? 100 pound at a dollar a pound is one hundred dollars. 17 tons at a dollar a pound is 34,000 dollars. Come back to earth.

 

[blurr]

And I thought I was negative. 17 tons! Where on earth did you come with that number? 100 pound at a dollar a pound is one hundred dollars. 17 tons at a dollar a pound is 34,000 dollars. Come back to earth.

I think what he was trying to say is that hedging against a large bubble of inflation isn't practical by saving a few pounds (or a hundred) of copper. It only works on a larger scale. That is of course if things really go sour. Otherwise you are just starting your own scrap yard. Nothing wrong with making a buck though

John

 

[2Shoes]

150 #2
175 #1

Here

Also shredder is 3.50 a hundred.

I think all aluminum is 30 cents a lb