Ford bundles fall $15 a ton; outages seen slicing offers
Nov 01, 2006 | 11:54 AM
| Michael Marley
Prices paid for Ford Motor Co.'s factory bundles are down $15 a long ton from last month to about $231 a ton at the automaker's Chicago-area stamping plant, industry sources said.
It was still unclear whether bundles from Chrysler Group's stamping plants and some prime scrap from General Motors Corp. had been sold and at what price levels. Fort Wayne, Ind.,-based OmniSource Corp. sells that industrial steel scrap for the two automakers.
Dearborn, Mich.,-based Ford had offered up to 4,000 tons of bundles to bidders this month, but it is believed that the plant might only generate between 1,000 and 2,000 tons of bundles because of reduced production and scheduled outages for Election Day and the Thanksgiving Day holiday. The first 10,000 tons of bundles produced there each month are sold to a steel mill on contract.....
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