Upstate shredder raises buying prices $37/ton

Oct 25, 2012 | 11:01 AM | Lisa Gordon

Tags  shred scrap prices, Adam Weitsman, Upstate Shredding LLC-Ben Weitsman & Son, Lisa Gordon

PITTSBURGH — The scrap market got a surprise on Thursday when a New York scrap metal processor raised buying prices at its shredder by $37 a gross ton.

Some called the leading move by Upstate Shredding LLC-Ben Weitsman & Son Inc. an indication that scrap prices could increase by the same amount in November, while others said it was simply an attempt to pull tons away from competitors.

Shredders usually raise or lower their buying prices by $5 to $10 at a time, so the $37-per-ton increase has caught the industry’s attention.....

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