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Oct 21, 2008 12:30:00 GMT
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I took my dead Rover diesel to the scrap metal place on Saturday.
I received the princely sum of £22.57 for it :-(
Apparently, the ferrous scrap price has steadily fallen over the last week from ~£80/tonne to £20 on Saturday. And this from a high of over £200 about six months ago.
I was chatting to the boss and he said on Monday morning last week, the price for alloy wheels was £800/tonne, by lunchtime it had fallen to £267!!
The reason? A belief that the US are going in to near depression, hence no market for cheap Chinese goods, hence no demand for our scrap metal.
The up side is, when people finally realise, we should see the end of silly reserves (like £150) on 'spares or repairs' cars on eBay!!!
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Oct 21, 2008 12:57:53 GMT
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Indeed, the CBI (or one of the other business bodies, I was only half listening) posted some data yesterday which was on the radio today saying that orders "at the factory gates" was falled by something like 40% in the quarter, so if nobody's buying the product, then nobody's buying the raw materials either.
This is typical as I have a big pile of scrap saved up which has probably gone from £75 worth to not worth the bother of weighing in...
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1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1994 Ford Fiesta
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horney™
Club Retro Rides Member
Posts: 1,289
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Oct 21, 2008 13:41:32 GMT
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Landrover and Aston martin are now both rumoured to have dropped down to a 4 day week and BMW are closing plant oxford for 4 weeks instead of 2 over christmas. All this is due to lack of demand. Not good!
Nick
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Oct 21, 2008 13:46:41 GMT
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To my mind, the scrap price crash is one of the positives to come out of this "credit crunch". No more travellers with Hi-abs seeing £250 worth of frag feed on everyone's driveway, no more decent old cars getting weighed in instead of living on... and perhaps... perhaps we will be back to people keeping their cars for longer instead of taking on a heap of credit to buy new cars that they cannot afford every few years in order to give the illusion that they are wealthy.
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Last Edit: Oct 21, 2008 13:47:35 GMT by BenzBoy
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berendd
Europe
why do I need 3 keys for one car?
Posts: 1,449
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Oct 21, 2008 13:47:17 GMT
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get out your wallets and go buy some stuff!
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ThePollitt
Posted a lot
Fix up, look... at that car on eBay!
Posts: 4,696
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Oct 21, 2008 13:51:48 GMT
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To my mind, the scrap price crash is one of the positives to come out of this "credit crunch". No more travellers with Hi-abs seeing £250 worth of frag feed on everyone's driveway, no more decent old cars getting weighed in instead of living on... and perhaps... perhaps we will be back to people keeping their cars for longer instead of taking on a heap of credit to buy new cars that they cannot afford every few years in order to give the illusion that they are wealthy. Agreed. Nail head hit I say. I work for Motablity dealing with all the end of contract vehicles, and they're selling well because no one is buying new cars. Even the dealer are trying to buy them back so that they have smoethign to sell! Chris
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Oct 21, 2008 14:18:22 GMT
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I agree with Benzboy to a larger extent. Hurts if you are one of the people who has been laid off or will be shortly laid off. If unemployment does continue up (was talk of hitting 3 million again by next summer!) then nobody will be buying cars new, used or otherwise... A mate of mine works at Toyota and they cut overtime ages ago which is making it very difficult for him to ballance his budget.
My concern is that if the recession is long and deep that "luxury items" like retro cars (as 2nd, 3rd cars whatever) will be millstones round their owners necks and will be sold off cheap or scrapped to appease wives and parents whatever. "We can't afford to pay the mortgage you certainly can't afford to do up that Ford Capri now, get it sold"
I can certainly predict that the bubble may well be about to burst on a lot of the scene taxed cars as disposable incomes shrink...
give it 12 months you may be able to pick up affordable Mk1 Escorts again.
I remember back in the early 90s Mk2 Jags were all like £50K cars, E Types were £90K, even Morris Minor saloons could get £3500 easily, then the recession struck and within no time £7500 bought you a good Mk2 Jag, £15K for a E type and £1500 for a Minor, top end. Strangely a lot of classic cars on high end agreed value policies caught fire about that time...
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1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1994 Ford Fiesta
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Oct 21, 2008 14:38:12 GMT
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I was chatting to the boss and he said on Monday morning last week, the price for alloy wheels was £800/tonne, by lunchtime it had fallen to £267!! Where can i buy a ton of alloy wheels from?
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Oct 21, 2008 14:45:09 GMT
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I was chatting to the boss and he said on Monday morning last week, the price for alloy wheels was £800/tonne, by lunchtime it had fallen to £267!! Where can I buy a ton of alloy wheels from? just what i thought , i give you 270 for it
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Oct 21, 2008 14:57:12 GMT
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I was chatting to the boss and he said on Monday morning last week, the price for alloy wheels was £800/tonne, by lunchtime it had fallen to £267!! Where can I buy a ton of alloy wheels from? from your local scrap yard?
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1941 Wolseley Not Rod - 1956 Humber Hawk - 1957 Daimler Conquest - 1966 Buick LeSabre - 1968 Plymouth Sport Fury - 1968 Ford Galaxie - 1969 Ford Country Squire - 1969 Mercury Marquis - 1970 Morris Minor - 1970 Buick Skylark - 1970 Ford Galaxie - 1971 Ford Galaxie - 1976 Continental Mark IV - 1976 Ford Capri - 1994 Ford Fiesta
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psl
Part of things
Posts: 230
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Oct 21, 2008 15:33:41 GMT
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agree with the above, but untill the chaffing media stops drowning us in pity, and the goverment takes them by the scruff of the neck and tells them start putting a positive spin on it all no one will put their hands in their pockets. Everyday we come home from uncertainty at work to more curse word on the box.
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Oct 21, 2008 15:50:14 GMT
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agree with the above, but untill the chaffing media stops drowning us in pity, and the goverment takes them by the scruff of the neck and tells them start putting a positive spin on it all no one will put their hands in their pockets. Everyday we come home from uncertainty at work to more curse word on the box. For once the Media are very much underplaying whats going on... Its a whole lot worse that they are letting on
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dubzi
Part of things
Posts: 711
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Oct 21, 2008 18:09:35 GMT
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And there's me with a load of metal I was going to scrap back in the summer and never got round to it.....
No point now.
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Happiness ain't at the end of the road. Happiness is the road.
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purplevanman
Posted a lot
Way too orangey for crows
Posts: 3,830
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Oct 21, 2008 18:35:30 GMT
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And there's me with a load of metal I was going to scrap back in the summer and never got round to it..... No point now. ditto I have a disco that has sat around for ages, looks like it will sit for a while longer Did take my alloy in though
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Welder, fabricator, general resto work
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Oct 21, 2008 20:08:41 GMT
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cars have been dropping about £10 a day for the last 2/3 weeks. catalytic convertors have dropped like lead balloons and copper is down from four grand (!) a tonne to £1200 yesterday. might stop the halfwits coming round at work and theiving odd bits for drink moiney that gives us large headaches. someone broke in to the shed last year and took ONE 993 turbo alloy wheel from the set that layed there. who takes one? for £6 in ally and it ruins our set; cheers unfortunatly it makes our job of buying cars for dismantling worse as the shells are now worth sod all. there's flipsides everywhere you look.
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Oct 21, 2008 20:12:00 GMT
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For me personally, this may be a good thing. Hopefully it will see a return to "Bangernomics" and easilly finding decent, useable, MOT`d cars for £100 or so again.
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1986 Panda 4x4. 1990 Metro Sport. 1999 Ford Escort estate.
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Oct 21, 2008 21:13:29 GMT
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Thing is, I'm looking at luxobarges like W124s and LS400s. You can now get a good LS400 with long MOT and full service history for Sub £2k-3k for a 10 year old car. But this is a £50k new 10 year old car, not an old banger. This is the kind of car that in the last 2 or 3 years would still be £10-15k and being snapped to save as classics.
With petrol coming down, I'm tempted again by one.
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For me personally, this may be a good thing. Hopefully it will see a return to "Bangernomics" and easilly finding decent, useable, MOT`d cars for £100 or so again. I'm right there with you. A mate and I do a very tough rally each year on the 'bangernomic' principle - buy a cheap car, fit the minimum of trick bits (generally just harnesses, lights, knobbly tyres and sump guard), rally the nuts off it, and take what remains to the scrappy. The problem is, up until now, this year you couldn't get anything with even only a few days MOT for less than about £200-300. It will be interesting to see how long it takes for the scrap price crash to trickle down to second hand car prices...
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Filthyjohn
Part of things
Currently on the road: 1/11
Posts: 705
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Landrover and Aston martin are now both rumoured to have dropped down to a 4 day week and BMW are closing plant oxford for 4 weeks instead of 2 over christmas. All this is due to lack of demand. Not good! Nick A mate of mine works at Toyota and they cut overtime ages ago You're both quite right, though the Toyota problem has something to do with Auris sales being curse word. If I may provide some info from the world of car production, as we had a briefing around 2am this morning. All the major players are looking at severely reduced profits, due to a really sudden downturn in sales. Nobody in the industry saw this coming, as it's only taken effect in the last two months. Put yourself in the shoes of a manufacturer, Nissan for example. Your customer is the franchised dealer. The dealer asks you for, say, 2,000 micras for, say, October. This figure is made up partly of solid, confirmed orders, and partly speculation on the part of the dealer. The dealers have all been taken by surprise because things were going fine up until last month. Now though, their forecourts are full and they're putting dramatically smaller orders in. Back at the factory, they're running the line at about one micra/note every minute, around 410 a shift. But suddenly the orders are halved, and you need to drop prodution to about 270 a shift to match demand. What are you supposed to do? In Nissan's case they've halted production for 2 weeks on micra/note line. Line 1, making Qashqai, is unaffected as yet because there's still a waiting list in Germany, Spain and Italy, and an order bank of some 60,000 units. Other companies aren't so luckily positioned. Every manufacturer has introduced some form of production cut, whether it's time off or dropping line speed. Vauxhall, BMW, Aston, Land Rover Halewood, Range Rover Solihull, Ford Southampton (where they make Transit), Honda Swindon, etc etc. NMISA, Nissan's Barcelona plant has cut 1,800 jobs on Pathfinder line, a third of the workforce. GM are on track to lose $15 BILLION this financial year. Ford have cut another 40,000 jobs as part of their wider ongoing "right-sizing" activity. To give an idea of the scale of the slowdown, the sales forecast for the whole industry FY2009 has fallen by 360,000 units to just over 2million. Sorry if that was off topic, or if I bored anyone, but this will affect used sales too, and it'll get worse before it gets better.
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'95 Volvo 945 Turbo
'87 Volvo 765 TIC
'75 Opel Manta A 2.0 16v,
'86 Volvo 360 turbo,
'62 amazon,
'67 MGB GT.
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horney™
Club Retro Rides Member
Posts: 1,289
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Nice info there Filthyjohn. Cheers :-)
Nick
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