Auto bundles index up $8 per ton in December
Dec 01, 2006 | 04:38 PM
| Michael Marley
Average prices paid for the auto industry's factory bundles rose by between $6 and $10 a long ton in sales made Thursday and Friday, industry sources said.
The sale of the sheet steel scrap from four of Chrysler Group's stamping plants, one Mitsubishi Corp. facility in the Midwest and three General Motors Corp. plants stood in sharp contrast to the results of Ford Motor Co.'s bundles auction earlier in the week.
Industry sources said the top offers for excess bundles from Ford's big Chicago stamping plant were down about $12 a ton to around $219 from a month earlier, although most steel and scrap industry sources believe that Ford will not actually have any excess bundles to ship to the top bidder this month. That reportedly was the case last month as well, with no additional bundles beyond the first 10,000 tons that are sold each month to a Midwest steel mill on a contract.....
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