Thanks for the info.
Hey guys I am in the scrap business as well as plumbing and recieved some numbers this week for copper and brass. I am getting $3.93 for number 1 copper and $2.40 for brass this is per pound. Over the past 2 weeks this stuff has went crazy and im just letting you know to stock up on fittings etc because it will be affecting self prices quickly. I have talked with purchasing agents for copper they told me today that copper could hit the 6-8 dollar range per pound this is nuts.
I read an article a month or two ago about an older neighborhood in the Cleveland area where foreclosures are rampant...after the house is vacated thieves are going in and pretty much destroying the house to get all the copper out of them.
Note: I am a DIY'er and not a professional. My posts here are observations / opinions and may or may not be in accordance with your local ordinances.
It's not only common in vacant houses, but in occupied too. You find someone has broken in not only to steal your TV and your stereo, but your piping and electrical wire as well!
With the markets the way they are, tons of $ is being dumped into commodities, driving up prices. It certainly doesn't help copper or oil prices. The dollar is so weak, oil looks worse than it probably is. If my thinking is right, oil in 2002 dollars would be about $65/barrel right now. But the dollar has fallen so much, it's way up there!
Copper closed @ $3.98/lb on the Comex today. Copper tube and fittings price sheets have both jumped twice in the last 2 weeks. I placed a stocking order right before the first jump, thanks to a heads up from one of my suppliers.
I did a repipe recently where the thieves left the new computer and tv but stole all the copper pipes.
Yea it is getting pretty bad out there! people stealing aluminum siding off houses where i live, as well as taking copper out of houses in fact a few months back some city officials in my area got caught taking cash from people that they were letting into condemned houses to take copper etc. I mean the scrap prices are nice to go in and get a few bucks but it is short term gain for long term pain as China has 87% of the worlds metals etc and when we need stuff over here we pay big.
It makes me wonder what is going to happen
when China finally getss done with its building
if they are willing to buy up anything that they can for
whatever price they can get their hands on it for....
what does the future hold????
they claim that China is building a city the size of
San Franscisco every two weeks......
when that bubble bursts , or they run out of room
anyway, I got about 1000 lbs in 5 gal buckets to take in
and maybe another 1500 in brass....
Reread Nate's comments. It's not China that's driving this bubble, it's capital fishing for higher returns than it can presently expect from the equity markets.
There was an article in yesterdays wall st journal about a company that was trying to manufacture shoes in the USA. They tried competing in sneakers and were just buried by labor costs. They then decided to specialize in fine men's shoes, but the infastructure to make shoes doesn't exist here anymore. They couldn't get the right kinds of foam, or custom eyelet holes or anything without having everything shipped from China and in huge quantities.
If we can't make shoes anymore, our country is in trouble.
Our capital dumping isn't the only thing. When China's done, India will pick up some of the slack. They're also coming up in a big way fast. Plenty of Africa that is yet to be developed. Peak oil will really throw a wrench in the spokes of the world economy for a little while.