Chinese scrap players driving for US market
Apr 25, 2011 | 11:22 AM
| Shi Lili
BEIJING Chinese scrap metal buyers, citing small profit margins on imported material, have set up their own scrapyards in the United Statesor are considering doing soto acquire scrap at lower prices for shipment to China.
The drive into the U.S. market appears to be limited to nonferrous material because American players can provide a better price for ferrous scrap. Most of the Chinese-owned scrapyards setting up operations in the United States are also small scale, and dont have the space to stockpile ferrous scrap while they wait for prices to reach a high-enough level where they would consider shipping abroad.
One trading company executive said that a Chinese copper rod producer is considering providing the funding for him to acquire a business in the United States, with the material to be sold internationally.....
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