A $5B hoard of aluminum
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A $5B hoard of aluminum
1–10 of 91 posts
Re: A $5B hoard of aluminum
#2Why would the aluminum stock not be useful after 10 years, oxidation?
Re: A $5B hoard of aluminum
#3Why would the aluminum stock not be useful after 10 years, oxidation?
Aluminum is very oxidation resistant once the initial thin oxide layer forms. I doubt that is the issue.
I would guess the reason is similar and would be weathering/erosion due to being outside and pelted with sand/rain/etc.
Re: A $5B hoard of aluminum
#4So the 'Buying spree' graph is apparently showing a surge of import. But it really doesn't show anything like that. Or am I just misunderstanding something?
Re: A $5B hoard of aluminum
#5The aluminum market is a game.
https://www.cnbc.com/2014/06/03/how-aluminum-became-a-cash-c...
Re: A $5B hoard of aluminum
#6Why would the aluminum stock not be useful after 10 years, oxidation?
Aluminum "scrap" is still very useful and valuable.
Re: A $5B hoard of aluminum
#7The aluminum market is a game. https://www.cnbc.com/2014/06/03/how-aluminum-became-a-cash-c...
Fascinating read. Apparently the antitrust case mentioned towards the end is still ongoing.
https://www.reuters.com/article/us-aluminum-lawsuit-idUSKBN2...
Re: A $5B hoard of aluminum
#8Why would the aluminum stock not be useful after 10 years, oxidation?
It might be in specific forms ready to be processed - eg. blocks of specific dimensions or weights.
After 10 years outside, it's probably covered in dust and grime, and gotten an oxide layer. It probably isn't immediately sellable to a car factory...
But it could be reprocessed very inexpensively and become sellable. The loss of value would probably be well under 1%.
People saying "it's so old, it's basically scrap" either don't know what they're talking about, or they're deliberately deceiving - and being market traders, I suspect the latter in the hopes of pushing market prices higher.
Re: A $5B hoard of aluminum
#9Why would the aluminum stock not be useful after 10 years, oxidation?
Aluminum is very oxidation resistant once the initial thin oxide layer forms. I doubt that is the issue. I would guess the reason is similar and would be weathering/erosion due to being outside and pelted with sand/rain/etc.
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Re: A $5B hoard of aluminum
#10Why would the aluminum stock not be useful after 10 years, oxidation?
It might be in specific forms ready to be processed - eg. blocks of specific dimensions or weights. After 10 years outside, it's probably covered in dust and grime, and gotten an oxide layer. It probably isn't immediately sellable to a car factory... But it could be reprocessed very inexpensively and become sellable. The loss of value would probably be well under 1%. People saying "it's so old, it's basically scrap"…
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