Copper Just crashed!

[Gunbuggy]

That sucks. I was getting ready to scrap a bunch of wire from work. It was about $1.50 per pound and I have over 1k pounds of it. Procrastinated and screwed my self out of some money.

 

[ssubwave]

This great news , i'd definitely buy the dip

 

[TTSX]

So did you buy the dip?

 

[po18guy]

Just after I filled my 5gal jug full of pennies! They're worthless now...

Well, since they are 95% zinc, you can make a Hi-Point from them!

On second thought, you're right.

 

[kmk1012]

Just looked at some charts on the price of copper, didn't see a significant dip in price. Maybe 10% over the last month. Is there something I'm missing about this or is this what they call insider information, LOL.

 

[USMC1911]

Just looked at some charts on the price of copper, didn't see a significant dip in price. Maybe 10% over the last month. Is there something I'm missing about this or is this what they call insider information, LOL.

Spot for scrap #2 is still $3.30. I got a couple thousand pounds of bare wire from a wreck out job. Looks like time to unload it.

 

[skywag]

Why did the price plummet?

Econ 101...................supply and demand

 

[bearingman]

I don't know who that guy is, but I don't call a 2% ($0.0848) drop a crash. Copper closed at $4.1563/lb today.

 

[kmk1012]

I don't know who that guy is, but I don't call a 2% ($0.0848) drop a crash. Copper closed at $4.1563/lb today.

That's what I was getting at, I sure didn't see a big drop.

 

[TCOV]

I thought copper customs website crashed and I thought... So? How much copper is used in primers? That's really the big component in my opinion, however projectiles are a good start IF this drop ends up equaling better supply. I doubt ammo manufacturers will drop price just because they can

 

[American123]

Econ 101...................supply and demand

I was hoping for more elaborate details as to some event that could have occurred, not a presumption that the most basic fundamental of economics would be a helpful answer, thanks though…

 

[cigars]

I thought copper customs website crashed and I thought... So? How much copper is used in primers? That's really the big component in my opinion, however projectiles are a good start IF this drop ends up equaling better supply. I doubt ammo manufacturers will drop price just because they can

It's the same as gas. When there's a crisis in the ME or a refinery goes offline, gas prices jump quickly. When things get back to normal, it takes forever for the price of gas to drop back down. May they all burn in hell.

 

[Certaindeaf]

I don't know who that guy is, but I don't call a 2% ($0.0848) drop a crash. Copper closed at $4.1563/lb today.

Hey man, yer harshin my panic.

 

[KeBoLi]

facts is facts

Kitco - Spot Copper Historical Charts and Graphs - Copper charts - Industrial metals

 

[kbuc nw]

Hopefully this will keep the small all copper Bullet manufacturers' price down.
Or at least not another price increase.

 

[SUPER X]

That sucks. I was getting ready to scrap a bunch of wire from work. It was about $1.50 per pound and I have over 1k pounds of it. Procrastinated and screwed my self out of some money.

At One time Clean bright and shinny was about 3.50 plus. Hang on to it. Sometimes talking to a buyer can get you more $ , They would rather buy 1000 pounds at once than deal with 500 tweakes with 2lb each .

 

[Gunbuggy]

At One time Clean bright and shinny was about 3.50 plus. Hang on to it. Sometimes talking to a buyer can get you more $ , They would rather buy 1000 pounds at once than deal with 500 tweakes with 2lb each .

Oh sorry I probably wasn't clear enough. It's not clean bright and shiny copper it's comm wire. Cat 5e, cat 6, 18/2, stuff like that. So 1.50 for that stuff is great. I'm wondering what it's at now, I'll have to call river gate and see what they're paying. I should have over 1k pounds

 

[USMC1911]

So took some of my copper in today it was $3.40 for bright and $3.20 for #1 wire.

 

[magic79]

Some recovery today, but still down over 15
%.

 

[Martini_Up]

1982
1/2 of the pennies minted in 82 were copper and 1/2 were clad zinc.
You have to weigh the 1982 pennies to see which one you have.

I just save 1981 and earlier. I pull the 1982 into a separate pile to sort with a scale.

What a cheap bastage

lol