Financial crisis and scrap value

Keith Webb · #1 23-10-08, 12:51

Just reading a post from Salesman Bob in the McGrath trailer thread which I thought was particularly significant:

Quote:

Originally Posted by Bob Moseley

Re. scrap value, I was talking to a scrappie today and he said he is now only getting about $130/ton as opposed to $300 not that long ago.

Just goes to show something good can come from the financial meltdown. This would have to slow the rate at which the scrappies are outbidding collectors at clearing sales.

Hanno Spoelstra · #2 23-10-08, 18:50

Quote:

Originally Posted by Keith Webb

Just goes to show something good can come from the financial meltdown. This would have to slow the rate at which the scrappies are outbidding collectors at clearing sales.

One should ask themselves: what initiated the financial meltdown? All I can say is that I'm proud of MLU'pers attempts to save CMP's has succeeded. Alright, the collateral damage is severe, but it was done for a worthy cause

H.

Bob Moseley (RIP) · #3 24-10-08, 01:05

Hi all - I posted this on another thread but here goes. Talking to a scrappie yesterday who said that a month ago he was getting $300/t for heavy scrap but is now only getting $130. And as I said before, if you want it outbid the scrappie. It's not hard.

Bob

Bob Moseley (RIP) · #4 24-10-08, 01:09

I think I just repeated myself. Should have read the lead item in this thread more closely. Any it's all good news.

Bob

Ryan · #5 24-10-08, 01:24

Yes, I have heard the same from several people I have spoken to recently.
Also my local scrap dealer which has been doing a roaring trade for months with a pile several stories high has now cleared it. The yard now looks like it did before the wild prices.

I do wonder though what ended up in ships sailing to china. Maybe the best place for a collector during the last six months would have been the unloading docks over there.

Keith Webb · #6 24-10-08, 01:46

Quote:

Originally Posted by rynoki

I do wonder though what ended up in ships sailing to china. Maybe the best place for a collector during the last six months would have been the unloading docks over there.

Probably crushed scrap.

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