Aluminum Spiking Sharply

[Recyclersteve]

I just looked at the price of aluminum on Kitcometals.com and it is $1.00/lb., up from 75 cents (33%) in just a few days. In the stock market that would be a really good YEAR.

I realize there is likely a lag before prices realized at scrap yards would go up. They want to be sure this is more than just a glitch in the short-term chart before paying substantially more.

Think of it another way. I am selling at a scrap yard today and the company that will be buying from the scrap yard won’t
be buying anymore for another 1-2 weeks. I know I’d be nervous about buying at elevated prices in a situation like that.

I know some people have brokerage/futures accounts to hedge positions, but there are many that are too small and unsophisticated for that.

Your thoughts?

P.S. About 150 years ago aluminum was actually MORE expensive than gold! Look it up if you don’t believe me.

[neilgin1]

I just looked at the price of aluminum on Kitcometals.com and it is $1.00/lb., up from 75 cents (33%) in just a few days. In the stock market that would be a really good YEAR.

I realize there is likely a lag before prices realized at scrap yards would go up. They want to be sure this is more than just a glitch in the short-term chart before paying substantially more.

Think of it another way. I am selling at a scrap yard today and the company that will be buying from the scrap yard won’t
be buying anymore for another 1-2 weeks. I know I’d be nervous about buying at elevated prices in a situation like that.

I know some people have brokerage/futures accounts to hedge positions, but there are many that are too small and unsophisticated for that.

Your thoughts?

P.S. About 150 years ago aluminum was actually MORE expensive than gold! Look it up if you don’t believe me.

whoa....really?......Steve, you know what i noticed?....in the last six months, whether it be crude, or wheat/corn/ beans/cattle/hogs, metals.......in the last six months, it seems that both volume, AND open interest have taken a 50% haircut....am i nutz or what?.....sure i watch the equities, both index's and individual issues, and they just scare the dickens out of me...it seems like solid stuff like P/E...is out the window.

any metals i may have, (dont have aluminum) i'm holding, and NO debt......told my boy, "debt is slavery".....he zero'ed out his cc's real quick.....i like nickel a lot too, specifically those $100 FV "bricks of nick's".......n.

[Recyclersteve]

And, sure enough, aluminum has gone back down to 75 c/lb. per kitcometals.com. Too bad.