Explain Aluminum to me

peilthetraveler

peilthetraveler

I live in CA. When i recycle my cans they pay me 1.60 per pound for the cans and (last i checked) they paid .89 cents for all other aluminum products like car rims, fans, ect...

Spot rate on Aluminum futures is like 69 cents per pound. How & why does CA pay so much? i know They pay like 2/3rds less in other states for aluminum, so why does CA pay so much?

And how come I cant just buy an aluminum contract for 44,000 pounds of aluminum, take delivery and send it to the recycler for 89 cents per pound and make 8800 dollars per contract profit, minus shipping?
 
You're just being reimbursed by the recycler. You paid a 'surcharge' called CRV at the checkout counter when you bought it at the store.



Quote from peilthetraveler:

I live in CA. When i recycle my cans they pay me 1.60 per pound for the cans and (last i checked) they paid .89 cents for all other aluminum products like car rims, fans, ect...

Spot rate on Aluminum futures is like 69 cents per pound. How & why does CA pay so much? i know They pay like 2/3rds less in other states for aluminum, so why does CA pay so much?

And how come I cant just buy an aluminum contract for 44,000 pounds of aluminum, take delivery and send it to the recycler for 89 cents per pound and make 8800 dollars per contract profit, minus shipping?
More...
 
Quote from risktaker:

You're just being reimbursed by the recycler. You paid a 'surcharge' called CRV at the checkout counter when you bought it at the store.
More...

ACK!!! Of course! Duh! Completely forgot about that!
 
Yes, the mkt is closed. They continually bust clowns bringing semis full of cans from AZ etc to Ca for recycling. It's an interstate commerce felony.
 
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