Auto shredder market down but execs upbeat
Oct 31, 2013 | 02:03 PM
| Lisa Gordon
CHICAGO U.S. auto shredders continue to wrestle with falling profits due to undisciplined buying practices, the willingness to pay top dollar for subpar material and a struggling construction sector, but the trend will eventually reverse itself, according to attendees at AMMs Steel Scrap Conference in Chicago.
"Shredders have a price margin problem because of demand and falling prices over the past 18 months," said Ben Abrams, president of Consolidated Scrap Resources Inc., York, Pa. "It is more than just an issue of too many shredders in the market. The bigger issue facing shredders is the lack of construction demand and has probably been the biggest obstacle for shredders and prices."....
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