The decision wasn’t ours, an option to consider is yours
Jul 30, 2008 | 11:38 AM
No less a figure than Lakshmi N. Mittal sounded a warning note in his otherwise upbeat speech at AMM's Steel Success Strategies XXIII conference in June. Surging input costs are "unsustainable," he said, and risk hurting the steel industry's customers.
But what happens if accurate information on the price of raw materials isn't readily available? For those in the scrap and steel industries, that's become a pressing question in the past two months. As many of our readers are aware, AMM's No. 1 factory bundles price—widely used as an indicator for countless monthly purchases of prime industrial scrap—has been unavailable since early June.
This absence was not of AMM's making. In late May, Steel Dynamics Inc.'s scrap subsidiary, OmniSource Corp., and Chrysler LLC announced new plans to market the automaker's bundles. Instead of month-to-month auctions with successful bids that become widely known, bidders were encouraged to commit to longer periods with a monthly price adjustment and were required to take an oath of secrecy not to tell other buyers, and publications like AMM, whether they bought the bundles and what they paid for them.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.