Iron ore prices are lower than they've been in the last 5 years. Coal was down some but recovered a bit in the last month. China's market is being flooded with cheap iron ore. It's so cheap China can't profitably mine most of their own at current prices. Combine that with the west coast dock strikes and that sends the price of scrap into the gutter.
Other metals like lead, titanium, nickel, tin, copper, and aluminum are considerably under any high reached inside of the last 12 months and many are currently at a price near half or less than half of the price of any high reached in the last 5 years.
I've seen some real dummies at auctions buying scrap, and I've seen some guys that do quite well for themselves, too. The dummies generally don't last long, but when one dummy disappears, another seems to take his place.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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