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Allan Senefelder
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PostPosted: Fri 15 Aug, 2008 11:47 am    Post subject: Brass goes up again         Reply with quote

An update on raw materials costs. Brass just jumped by 8% since Tuesday( second jump this year) yeilding a 232% increase in its cost since 2006.
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Christopher Gregg




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PostPosted: Fri 15 Aug, 2008 12:00 pm    Post subject:         Reply with quote

Allan, is this due to the increased price of copper?
Christopher Gregg

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Allan Senefelder
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Location: Upstate NY
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PostPosted: Fri 15 Aug, 2008 1:59 pm    Post subject:         Reply with quote

First applogies, missed key stroke, 132% not 232%.

I don't think so at least not this last one as an English and several Chinese commodities firms were busted by international law enforcement a few weeks ago with loads of warehouses full of copper, they were buying up to artificially jack up the price ( same thing happend out of a Fed sting started in March on domenstic oil commodities brokers, last month when the price of oil started to go down its because the Fed rounded up hundereds at one firm doing the exact same thing and the rest got paranoid and stopped buying oil shares/lots). The price on copper has actually come down a little since that hit.
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Wes Pryor





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PostPosted: Tue 19 Aug, 2008 2:19 pm    Post subject:         Reply with quote

Christopher Gregg wrote:
Allan, is this due to the increased price of copper?


There are probably more factors, but I know that one of them is the demand made by the military.

Brass is used for the shell casing of ammunition. Unlike some countries the U.S. does not use steel casings for the ammo we make for our military.

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Wes Pryor





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PostPosted: Tue 19 Aug, 2008 2:21 pm    Post subject:         Reply with quote

Christopher Gregg wrote:
Allan, is this due to the increased price of copper?


There are probably more factors, but I know that one of them is the demand made by the military.

Brass is used for the shell casing of ammunition. Unlike some countries the U.S. does not use steel casings for the ammo we make for our military.

.
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