Reply to: Oil and metals prices in fee-fall

[bobhope]

Nothing goes up in a straight line. To say that the oil price was all due to speculators, is outright bonkers.

Sure, there's speculation there. The trick is to work out how much of the price is due to increased demand / plateau supply and how much is speculation.

[Cyberman]

Boomed.

The rise in oil and other commodities' prices was caused by speculation, not because of any supply or demand factors. This is what has caused instability in the markets and led to fear of a recession due to spiralling costs.

If those prices are returning to levels that more accurately reflect reality, this will result in greater financial stability, increasing confidence in the markets, and the averting of the looming recession.

Until the bankers recommence playing with their imaginary instruments and it all goes spiralling back up again...

To say that high prices are all due to speculation is obviously not true. Demand for commodities has been pushed up by a massively growing economy in China over the past few years, and thus investors were piling into commodity investments.
Demand is now falling because of the high prices and people naturally cutting back on consumption, and also the impending worldwide recession. This is bringing prices down dramatically in the short-term, but long-term, prices will inevitably rise due to increasing demand yet again.

[Diver]

What's the scrap value of a Dalek these days?

Mmmm! Daleks.

Soft on the inside, crunchy on the outside

[Fred Bloggs]

Take a 5 to 10 year view and it's a buying opportunity just round the corner.

[TykeMerc]

Daleks outclass The Master any day.

What's the scrap value of a Dalek these days?

[Bob Dalek]

Daleks outclass The Master any day.

[Diver]

Even worse, I couldn’t afford to run my 4x4 and it was worth more in scrap. When I cut it up the oil price dropped and the scrap was worthless.

It probably is worth more in scrap

But then again, I don't have to worry about some scrote scratching or denting it. Unless they used a sledge hammer and a chainsaw, the marks wouldn't be noticeable amongst the rest

[Paddy]

I've got 600 tonnes of scrap steel to cut up and recover, and now the prices are dropping

Ah well! still a hefty profit

Even worse, I couldn’t afford to run my 4x4 and it was worth more in scrap. When I cut it up the oil price dropped and the scrap was worthless.

[Diver]

couple of newbie questions, yes, I'm also doing my own research on the subject.

Do you take delivery of this steel or is it just on paper?
Do you suggest any good place where metals can be traded?

Thanks in advance for the answers

We do demolition and recovery of metals (usually Iron & Steel), and sell on to the highest bidder. which is always Sims Metal (Sims Group).
I deal in thousands of tonnes a year though.
For Non ferrous metals, I think that one of the Traders/Dealers that ship direct to China is the best option at the moment.

[bullseye]

I've got 600 tonnes of scrap steel to cut up and recover, and now the prices are dropping

Ah well! still a hefty profit

couple of newbie questions, yes, I'm also doing my own research on the subject.

Do you take delivery of this steel or is it just on paper?
Do you suggest any good place where metals can be traded?

Thanks in advance for the answers

[The Master]

Never listen to a cyberman. Their cunning plans are even worse than The Master's.

I doubt that

[derekthedalek]

Yes, that's exactly what's going to happen here.

Not.

Never listen to a cyberman. Their cunning plans are even worse than The Master's.

[DimPrawn]

This is good evidence that we are entering a worldwide recession, as demand falls for expensive commodities. This is actually good news because inflation will falling and interest rate cuts can be made to stimulate the economy, thus also helping us to avoid a housing crash.

BOOMED !!!

Yes, that's exactly what's going to happen here.


Not.

[Cyberman]

Oil price falls further to $118. Soon they won't be able to give it away
http://news.bbc.co.uk/1/hi/business/7542766.stm



Doomed.

This is good evidence that we are entering a worldwide recession, as demand falls for expensive commodities. This is actually good news because inflation will falling and interest rate cuts can be made to stimulate the economy, thus also helping us to avoid a housing crash.

BOOMED !!!

[Diver]

one good hand

Six good men