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 - Measuring with Calipers - by Staff. The legs of inside calipers are curved outward at the extremities to facilitate measuring small holes, while outside caliper legs have a large curve inward to increase their capacity for large work. Firm-joint calipers are adjusted approximately by the hands and then set to the feel of the work by tapping them on a metal surface. It is a common practice when opening calipers by this means to tap the top of the joint. It is better, if possible, to tap the inside of the legs, as repeated blo
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