Ford’s factory bundles crash $52/T for October

Sep 27, 2006 | 04:04 PM | Michael Marley

Ford Motor Co. learned anew this week that what the scrap market gives one month, it can take back—and more—the next month.

The top offers for October factory bundles from the automaker's Chicago-area stamping plant plunged $52 a long ton in the auction that closed late Tuesday, industry sources said, erasing all of the $45-a-ton increase that Ford received a month ago and slashing the bundle price to about $245 a ton f.o.b. the automaker's stamping plant.

Only Ford's bundles were offered for sale Tuesday. The bundles from four Chrysler Group stamping plants and a Mitsubishi Corp. plant are scheduled to be sold Thursday.....

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