copper down $1.28 ????????
bronco2078
Posts: 10,211 ✭✭✭✭✭
Am I the only one seeing copper down $1.28 on kitco ?
0
bronco2078
Posts: 10,211 ✭✭✭✭✭
Am I the only one seeing copper down $1.28 on kitco ?
Comments
Copper Dec 12 3.711 3.7585 3.756 3.698 -0.047 -1.26%
LM-ANA3242-CSNS308-MSNS226-ICTA
I have a toolbar called Livegold installed in my Firefox browser that shows metal prices , I was half asleep drinking my first coffee of the day saw the copper quote and thought we were at war
It figured I bought $50 in customer wrapped pennies at the bank yesterday
That's the good thing about the penny investment. It only costs a penny and instantly liquid.
And it doesn't matter about the copper price curve. Sell when high, who cares when low.
I have several containers full of copper pennys and I'm tired of moving them. Soon as its high,
they go, to buy pms when low. I'm thinking its still good to separate copper pennys, but sell
them off often.
The recyclers will hold their scrap until copper recovers. Copper recyclers are completely in control of this market when oil is this high because it costs a lot of fuel and energy to find and process new metal.
The industrial metal recycling game is closely controlled and the game is highly predictable. My neighbor has about 10 acres of scrap about 2 stories high and watching the ebb and flow of ferrous & non ferrous comings and goings in his yard has been over the years..... fascinating. Copper price heads south, his copper pile becomes enormous.
I'll never forget him telling me..."you can never have enough of the red metals".