Melt under 2 cents now

[reddirtcoins]

Been awhile but, the copper melt is under 2 cents now. (2.95lb)

[Morsecode]

I saw that. And I was surprised to see where aluminum and zinc were. Been a while since I paid attention.

[plus1hdcp]

I too was surprised to see that number. I don't think it will change my long term strategy. I have slowed a bit on copper due to a couple of household moves but things are now settled down for me. This should lead me to not be concerned about moving the stack and perhaps the decrease in melt will lessen those who are also stacking. I am more focused on AG and AU for the moment than CU and this is partially due to the pullback of all the metals.

[scyther]

[dakota1955]

a person can see that the price per ctu are also down

[cesariojpn]

So will this mean Ryedales will also become cheaper?

[uthminsta]

Remember the topic a few days back where we all jumped on Independent Living Bullion and quickly overloaded their market with CTUs? If not, here's the topic address:
viewtopic.php?f=7&t=28432
Their site is now pumping out info on the value of copper cents. It's the topic of their latest podcast, currently available from their front page:
http://www.independentlivingbullion.com
I wonder if they are regretting the timing of their venture into copper!

[tinhorn]

So will this mean Ryedales will also become cheaper?

Man, I hope not. I may be selling mine soon.

[dakota1955]

I think if you want a quick sale you will have to come down in price. If you can wait you still should get what you want.

[dakota1955]

With the price of ctu selling for 111 per unit are people slowing down in finding copper or do we stand strong and keep looking knowing that the return if we would sell is a long term event.

[uthminsta]

About last night's auction... I'm not sure that's a good indicator of the market interest. It was a product which many of us already have in quantity, a product which we usually source at the "wholesale" price of $100, and which many of us sell. Not saying this to bash the seller, just to point out that maybe the market at large is stronger than $111.
Thoughts?

[cooyon]

The best market interest indicator would be a BIN. Mixing this in with 150 other KSAs is maybe counterproductive, IMO.

[dakota1955]

I think that most of us sell ctu among us and if one sale goes for a lower price other will want it also at a lower price.
In no way am I bashing the seller or buyer it was a auction. But I see a lower tend being set up.

[uthminsta]

Yeah, the trend will probably go a little lower, I agree with you there. I just don't see many people willing to SELL at $111.

To say the least, it's really got me thinking, about how much I want to sort now. For completely unrelated reasons (translation: I did not foresee this market dip), I really haven't sorted much since before Christmas.

Looking at a little bigger copper picture, I expect this market is overall pretty resilient. If copper miners can't make any profit on pulling it out of the ground, they'll stop. As far as the penny guys are concerned, that makes us one more step up on the ladder and makes our product a little more attractive!!!