"Has it occurred to you that the plunging price of
Post# of 43064
Posted On: 08/26/2015 3:04:19 PM
Quote:
"Has it occurred to you that the plunging price of crude may have some effect on profitability and the value of a processor?"
It certainly does, but not in the way this poster is thinking.
Lower iron ore and steel prices tend to follow lower WTI-crude, causing the price of scrap metal to drop. Scrap prices have taken a beating this year, and are expected to continue their plummet.
Those hunks of scrap iron that Heddle refers to as "idle, broken processors" won't be worth very much soon. Heddle may end up having to pay someone to haul them off the property.
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