Irony aluminum fetches 71 cents a lb. in military scrap e-auction
Dec 27, 2006 | 11:17 AM
| Paul Schaffer
A Tuesday auction of a year's worth of forthcoming aluminum recyclables, described as irony aluminum scrap from a military base near Texarkana, Texas, fetched a winning bid of $514,000, equivalent to about 71 cents a pound.
The price for the material virtually matches the 70 cents a pound at which a Florida base sold a year-ahead offering of "clean heavy aluminum" in October.
The unit values include the 10-percent premium that winning bidders must pay when using the electronic auction platform of Defense Department contractor Government Liquidation LLC, Scottsdale, Ariz.....
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