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Tractor Talk Discussion Forum

Scrap prices

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rustyfarmall

03-05-2004 04:41:28




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There is a thread down below, posted by someone who is going to scrap out his tractors because they are worth more this way than as a whole tractor. A word of caution here, the reason that scrap prices are so high is because the price of new steel has gone through the roof, which means that the price of NEW tractors and farm equipment in general will be going up up up. This also means that the value of the older, used farm equipment is sky rocketing, any of you who have been to recent farm auctions know this is true. What I am saying here is don't be too quick to take the torch to your older stuff, it soon will be worth more as a complete unit than it is now for scrap.

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Fred OH

03-06-2004 08:34:15




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
Well, two or three years ago sitting out in the front yard under a shade tree...the owner of the scrapyard down the road said that the price of scrap was so low that he could only stay in business about another year...and if it didn't change, he'd have to fold up the business. His reasoning was that they could mine ore in Brazil and send it up here cheaper than they could sell cut up scrap. So, his wife took a job with a company, they eleminated the employees and the operation went into slow motion. I kinda felt sorry for him as he was such a nice guy once you got to know him...and the hardest worker I know of in these modern times. I certainly am glad to see scrap prices up...at least for his sake but I haven't seen that much more of the scrap metal peddlers beating a path to his door lately. Maybe the trend hasn't reached southern Ohio yet. Think I'll go down the road and visit with him and give him the info on that new Petrogen Torch that I got in the mail...looks like it is right down his alley...as scrap cutting is a major slow spot in his business. I got a bunch of scrap that I'll give him...as he takes care of me. Thanks for listening. Fred OH

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GK

03-06-2004 06:33:38




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
We have people here blaming politicians, steel mills, Federal Reserve, etc for manufacturing going to China and tech jobs going to India but lets get some reality here. Manufacturing is going to China because nobody can compete with 35 cents per hour, no workmans comp, retirement or any other benefit. Also, China has been considered a third world country and doesn't worry about environmental controls. Many companies are state owned and pay no taxes. No way can we compete. Further, most people want every thing for the lowest price. Same goes for tech jobs in India. Their wages are 25% of ours and they are well educated. We graduate 30,00 engineers a year and Asia graduates 300,000, many in our universities.
You can blame everone else but we are doing it to ourselves.

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Farmall Don

03-06-2004 07:51:45




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 Re: Re: Scrap prices in reply to GK, 03-06-2004 06:33:38  
Very well said. I which I would have said that right away, although I do believe our elected officals have a responsibility to set guildlines for the United States without sure greed interupting. You are correct though, its all of our faults.



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Dave

03-05-2004 12:43:42




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
The reason scrap and steel is so high right now is supply and demand. The demand is there from China, but since most all of our steel industry has done nothing but take profits out for the past fourty years, the mills are old, unreliable, and too expensive to run. Not only are the pensions, health care, and such killing them, but their own idiocy for not putting any money back into their companies and staying on top of the business. Its a bunch of good ole boys. Don't blame Bush, he actually gave in to the suckers and propped them up for a while with the tarriffs. Didn't do any good though, those companies are so old and decrepit that they can't make a profit if they had to now.

If you're investing in the steel industry, put your money in ISG out of PA I believe. They are buying up bits and pieces (the ones that aren't destroyed) of these bankrupt steel compnaies and running them as a business should be ran. They are making money too!! But alas, China will probably get all of theirs too for a while.

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Thomas

03-05-2004 11:16:32




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
If the price of steel doubles the price of a new machine doesn't double. The raw material cost is very low compared to the 'value added' cost of making whatever. Market pressures are unlikely to enable any manufacturer to increase their costs. I can't see how we can avoid a huge recession in Europe and the US when all the big OEM's are demanding big cost reductions year on year. That's negative inflation isn't it? Because of this all the lower tier suppliers are having to move their manufacturing operations to the Far East because they can't meet their price requirements any other way. As an engineer in the UK I find this very frightening as at the moment it's just the manufacturing operations but these people aren't stupid. How long before they gain the knowledge to design and market the goods themselves? We'll all be out of work selling insurance - Oh no those jobs are all going to India now. We'll all be seeking Asylum in China? Lawyers and Accountants - the lowest forms of life putting us all out of work.

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MILT

08-19-2004 21:58:22




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 Re: Re: Scrap prices in reply to Thomas, 03-05-2004 11:16:32  
Thomas: How's this scenario:
Greedy American manufacturers close their factories here and open them in China. After a few years they produce everything and we take in each other's laundry. They then simply buy what's left of the good old USA and march in from the west coast. They then own the country. They have waged war, and destroyed our factories without firing a shot or dropping a bomb, and nobody killed. They deserve the Nobel peace prize. We should have done that with the Nazis. Out-produce them and buy them out. Unfortunately they were far smarter then and we're more stupid now.

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Jim J

03-05-2004 07:23:45




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
The reason the price of scrap iron is so high is because President Bush polices have destroyed the value of the US dollar.



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snitkawl

03-06-2004 04:31:52




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 Re: Re: Re: Re: Scrap prices in reply to Scott Green, 03-06-2004 03:19:22  
Hey Scott, you left out the part where it is daddy Bushes fault that there are no Martians anymore because he didn`t send water to Mars while he was president. It amazes me how your(and others of your ilk)hatred for our President allows you to believe any lie you hear or can dream up about him or his administration.



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Scott Green

03-06-2004 12:27:28




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 Re: Re: Re: Re: Re: Scrap prices in reply to snitkawl, 03-06-2004 04:31:52  
Hey , Snitkawl , none of us knew that. We learn something new every day. Any other Bush surprises we don't know about. Fill us in , will ya.



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DL

03-05-2004 09:32:14




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 Re: Re: Scrap prices in reply to Jim J, 03-05-2004 07:23:45  
The policies of the FEDERAL RESERVE have devalued the dollar. It was a part of a plan to spur the GLOBAL economy!



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Ben in KY

03-05-2004 12:36:07




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 Re: Re: Re: Scrap prices in reply to DL, 03-05-2004 09:32:14  
Yes with the dollar down and the US steel companies dropping production or moving it overseas, we pay more now. Sort of like A Wall Mart moving into town with low prices, running the competetion out and when they are gone raising prices.



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Ron W

03-05-2004 08:13:50




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 Re: Re: Scrap prices in reply to Jim J, 03-05-2004 07:23:45  
I have talked to several steel companies and from what I understand Bush imposed a tariff on import steel to help the struggling US Steel companies regain a foot hold in the market. The steel companies took an advantage and escalated the price dramatically. When the tariff was lifted many of the foreign manufacturers had bellied up due to lack of sales. Bush's policy was just but the US companines did take advantage.

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earlschieb

03-05-2004 06:18:29




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
The steel prices going up are showing quickly, I am looking for a new trailer to haul small tractors on, and every dealer that I have talked to is telling me to buy one now, they are saying that the higher steel prices will drive up the trailer prices by 10 to 25 percent shortly!



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Chris

03-05-2004 05:05:40




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 Re: Scrap prices in reply to rustyfarmall, 03-05-2004 04:41:28  
At $50 a ton I will not be scrapping many tractors! The parts are worth a lot more than that. Might get rid of a few bad engine blocks and scrap cars though. Good to see the price up a bit but hate to see the metal going to China.



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Chris

03-05-2004 22:25:45




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 Re: Re: Scrap prices in reply to Chris, 03-05-2004 05:05:40  
Sorry or not that is what I was quoted here in Seattle for scrap engine blocks, transmissions and tractor frames.Several places wanted to give me $45. I would love to get $200 a ton! That would make it worth the trouble and labor to load it and haul! For $50 it can sit there and rust a while.



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marlowe

03-05-2004 08:05:22




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 Re: Re: Scrap prices in reply to Chris, 03-05-2004 05:05:40  
sorry to say but cut steel scrap is 205.00 uncut 165.00 tin 100.00 old junk cars are 200.00 each. took in a old woodbros. combine in that sat in the woods for 25 years and got 243.30. in two days i cleaned up just junk not any thing good or fixable and got over 2200.00 for very little work and this steel is staying at the foundry next to the scrap yard NOT over the pond. i know it's sad to see this old stuff going but our DNR is pushing this and locale towns are on this clean up kick because some like to bit-h about it so why not sell it and make a buck

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Kelly C

03-05-2004 18:35:03




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 Re: Re: Re: Scrap prices in reply to marlowe, 03-05-2004 08:05:22  
I guess it is time to drag the picked over parts baler out of the trees.



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Ben in KY

03-05-2004 08:52:13




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 Re: Re: Re: Scrap prices in reply to marlowe, 03-05-2004 08:05:22  
Marlowe,
From what I have learned over the past few weeks prices for scrap vary widely around the US. The prices you have quoted seem to be about the highest I have seen. The are about half that here in KY. I know some disappointed people returning from hauling scrap. The prices here are still much higher than the were.

I have been scrapping out some stuff, However I keep any possibly useable tractor parts :)

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