Chinese have upper hand in purchasing exec

Sep 30, 2005 | 08:38 AM |

Chinese scrap buyers continue to have a significant advantage in the purchase of U.S.-generated scrap over domestic consumers, a scrap industry executive said last week, so secondary smelters in this country will have to "pay up" to secure supplies.

Secondary grades of post-consumer scrap are the most likely to be exported, said Tom Akers, vice president of Metal Exchange Corp., St. Louis. Of all the factors that influence the flow of scrap from U.S. sources, the majority continues to favor Chinese consumers.....

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