Aluminum borings, turnings value slides 82% in auction (UPDATE)

Nov 21, 2008 | 07:39 AM | Paul Schaffer

Aluminum borings and turnings fetched 9 cents a pound in a year-ahead military auction Thursday, down 82 percent from 50 cents a pound in a similar auction in October 2007.

The competition for a projected 100,000 pounds of borings and turnings out of Robins Air Force Base in Georgia lasted 47 minutes past the scheduled deadline, showing there were at least two potential buyers. The winning bid was $8,300. A year ago, the winning bidder paid $56,300 for 125,000 pounds of the material.....

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