Dive in Chrysler values sinks AMM bundles $36 a ton

Nov 02, 2006 | 10:56 AM | Michael Marley

Prices paid for factory bundles from Chrysler Group's stamping plants are down by as much as $35 a long ton in those regions where the bundles have been bought this month, industry sources said.

Ford Motor Co., Dearborn, Mich., auctioned the bundles from its Chicago-area plant earlier this week and reportedly obtained a higher price (AMM, Nov. 2), but industry sources said the automaker has since told buyers that it is unlikely to have enough scrap. Ford sells the first 10,000 tons of bundles generated at the plant each month to a steel mill on contract. Any excess tonnage is shipped to the highest bidders in its auction at the end of the prior month.....

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