Industrial scrap prices to rise analyst

Nov 09, 2010 | 11:59 AM |

The ongoing loss of manufacturing facilities in the United States points to a steady loss of prime industrial scrap and higher scrap prices, according to industry analysts at Canaccord Genuity Corp.

"The exodus of manufacturing factories from the United States has eroded the country's scrap supply. Every time an appliance manufacturer uproots a factory from the United States and transplants it to a foreign country, the scrap byproducts that the plant used to produce disappear too," Eric Prouty, Canaccord Genuity's Boston-based analyst, said in the company's semi-monthly newsletter, Talking Trash.....

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