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 Capatalistc nomad
Positivelyscandalous
Registered: 06/17/03
Posts: 9,795
Loc: Pongyang, North Korea
Last seen: 6 hours, 32 minutes
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 can someone tell me how the spot market works?
#8536427 - 06/18/08 08:09 AM (3 months, 22 days ago) |
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more specifically, how someone would go about selling several million tons of an industrial mineral through said spot market?
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PEACE
 zippoz
Quote:
in times of widespread chaos and cofusion, it has ben the duty of more advanced human beings - artists, scientists, clowns, and philosophers - to create order. In such times as ours however, when there is too much order, too much m anagment, too much programming and controll, it becomes the duty of superior men and women and women to fling their favorite monkey wrenches into the machinery. To relieve the repression of the human spirit, they must sow doubt and disruption
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moon_glue
Orwell's Post9/11 Era
Registered: 01/20/07
Posts: 2,032
Loc: Earth, today...
Last seen: 10 days, 6 hours
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Re: can someone tell me how the spot market works? [Re: Capatalistc nomad]
#8536962 - 06/18/08 11:58 AM (3 months, 22 days ago) |
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you can ship it to refineries or take it to metal recycling place
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-::- Moonglue's Mushroom Tea -::-Moonglue's Cannabis Chocolate Peanutbutter Toasties-::-
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 TODAY
Battletoad
Registered: 09/25/03
Posts: 7,110
Loc: Metropolis City, USA
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Re: can someone tell me how the spot market works? [Re: moon_glue]
#8545476 - 06/20/08 07:32 PM (3 months, 20 days ago) |
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...schemes...made any money yet?
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ca'rouse (k-rouz)
intr.v.
To engage in boisterous, drunken merrymaking.
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HagbardCeline
ProfessionalAsshole
Registered: 05/10/03
Posts: 5,594
Loc: In a deep, deep, deep, da...
Last seen: 5 days, 22 hours
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Re: can someone tell me how the spot market works? [Re: Capatalistc nomad]
#8560225 - 06/24/08 09:46 PM (3 months, 15 days ago) |
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This is a market I know little about, but I'll tell you what I do know.
All a spot market is a cash market. It's basically an auction where someone offers a commodity for sale with immediate delivery - as opposed to a futures market where delivery will take place...you guessed it, in the future. **EDIT - It's seems that with some commodities such as minerals and raw ores that delivery can take up to a year in their respective spot markets.** You can offer a certain quantity at a certain price and people will either buy it or they won't. You're competing with other owners of said material who also want to move their inventory so whoever has the lowest inside ask wins.
From what I know, spot markets for whatever you're talking isn't where the majority of the trading is done, but I might be wrong. I think a lot more trading in minerals and metals is done through futures markets or long term contracts that bypass markets all together. The spot market can still significantly influence the prices of private deals though.
First, you'll need to find an exchange that offers your market. Then find a broker to help you peddle your wares. I don't know what the regulations and procedures would be to qualify listing your product, but I bet they aren't easy.
Consider what kind of volume whatever market you're considering selling this material in and offer accordingly. If the average daily volume of your particular spot market is 250,000 tons, don't go and list more than the market can absorb. This also goes when shopping a private deal. I'm sure a broker will help you with this, but you unless you want to deflate prices (which would lose money for you) be careful how you tread.
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Katie Couric, while interviewing a Marine sniper, asked :
'What do you feel when you shoot a Terrorist?'
The Marine shrugged and replied,
'A slight recoil
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