I did a lot of cleanup last year and sold off all of the cast iron, brass, copper, aluminum, tin and steel I had around. The cast iron and structural steel brought $180.00/ton. I have not checked prices this year to see if there are substantial increases or not. There's no secret when it comes to China once again looking to buy all of these commodities. The scrap biz is cyclical. My scrap guy continued to buy product all last year and stockpile it in the knowledge that the market would climb once again as the world pulled itself out of the recession.
In order to make good steel, you mix in a percentage of old steel. When it comes to copper, the Chinese sometimes have a tendency to water it down to make it go further and that makes for problems such as poor conductivity and tool over-heating.
At $220.00/ton, that works out to 11 cents a pound. That means your scrap yard will only pay $88.00 for an 800 pound GT. If they want a 50% profit, you would have to pay them $132.00 for a complete 180 or 448 or 224 Black Knight. If they want a 100% return on their outlay, then your cost would jump to a whopping $176.00.
Tell me where this place is so that I can get in line. :sidelaugh:
In order to make good steel, you mix in a percentage of old steel. When it comes to copper, the Chinese sometimes have a tendency to water it down to make it go further and that makes for problems such as poor conductivity and tool over-heating.
At $220.00/ton, that works out to 11 cents a pound. That means your scrap yard will only pay $88.00 for an 800 pound GT. If they want a 50% profit, you would have to pay them $132.00 for a complete 180 or 448 or 224 Black Knight. If they want a 100% return on their outlay, then your cost would jump to a whopping $176.00.
Tell me where this place is so that I can get in line. :sidelaugh:
