Mixed ferrous fetches $185/T in military auction

Oct 24, 2007 | 03:32 PM | Paul Schaffer

A buyer offering nearly $1.13 million to the U.S. Defense Department won the rights to mixed ferrous scrap to be generated in Alabama over the next year, an implicit value of $185.13 a long ton.

The buyer will pick up the material, which will includes vehicle parts, office equipment, turnings and refrigeration units, from four locations, including Anniston and Montgomery. The per-ton value includes a 10-percent premium levied on buyers by Government Liquidation LLC, Scottsdale, Ariz., a Defense Department contractor that runs the online auction platform.....

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