How to Deal With Falling Metal Prices

Posted: August 12, 2015

dropping scrap metal pricesWith metal prices constantly changing it is easy to follow where the scrap prices on our website…but that brings us to our next point. What happens if every time that you are checking the scrap prices for copper, steel, and other metals that the prices are falling.

Best Option for Constantly Falling Prices

We always tell customers that when they have the materials it should be time to sell them. If you are passing by Rockaway Recycling you can drop it off and be in and out of the door in less then 5 minutes almost every time that you come here. With copper prices and other metal prices following a lot of the trading patterns of Wall Street and other commodity prices such as oil, it is tough to guess when the metal prices would go up.

One of the most common questions that we get is: “When do you think that metal prices will go up?” We try to answer that as honestly as we can, and most of the time we like to joke by saying that, “If we knew that we would already be on our own island.” There used to be a pattern in the 1980’s and 1990’s on the ups and downs on metal prices, but since 2000 it has really changed. A lot of the old patterns are now gone and you now have to keep checking our online prices to really get an idea of what is going on.

When the prices of copper and brass are dropping quickly, one of the best things to do is to sell, sell, sell!!! Don’t try to hold onto your material too long and wait for a recovery, especially one that may not be coming anytime soon. We think that it is always better to have the money in your pocked then the metal in the bucket!

Scrap Is Like A Bonus Job

While the prices of scrap metal falling mean that you will make less money, we try to encourage our customers by saying that a lot of the scrap that you are fortunate enough to accumulate is almost always a bonus to the work that you are already doing, and because of that you should be fortunate enough to have the extra few dollars from selling it to begin with.

We tell our customers that if you want to hold the metals in your garage or shops to wait for the prices to go up that is it is the same as gambling…but why not come in, get paid for your scrap and then go bet in Atlantic City! While we are joking, the point is that guessing what is going to happen to the scrap metal prices, whether they are going up or going down, is a tough thing. Without a crystal ball we can’t guess and we deal with it everyday…so we try to tell our customers the best and most informed opinion that we can.

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How to Deal With Falling Metal Prices

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