Aluminum plunges at Boeing auction
Nov 26, 2008 | 08:45 AM
| Paul Schaffer
Aluminum scrap prices declined 45 percent from two months ago at Boeing Co.'s auction of material to be generated over the next four months.
Winning bids for four lots of briquetted borings, called "pucks," averaged 32.9 cents a pound, down from 59.25 cents in September.
Under its normal schedule, the Chicago-based aircraft manufacturer would have held its next auction in December for scrap shipments in the first quarter of 2009. But faced with disruption from rapidly declining metal values, Boeing held the auction early and offered material to be generated in the four-month period ending March 31, 2009.....
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