Ferrous scrap market unpredictable despite consolidation
There was some suspicion that steel producers would be able to manipulate the scrap market because they had too much control over raw materials, but time has proven that the fickle ferrous scrap market continues to follow a beat that’s paced by many factors.
In a frenzy: Scrap players had to make peace with not knowing what the next month, or week, would bring as long as winter remained at bay.
Two classes of action would boost the economy and manufacturing: Lift the yoke of excessive regulation, and face up to the growing outsize deficit.
Other than the cowboy, there may not be a symbol that more powerfully evokes the American ideals of autonomy and individualism than the automobile. Those icons came together at halftime during the Super Bowl, when Chrysler aired an ad featuring Clint Eastwood. Before delving further into the ad, its fallout and what it says about the short-term fortunes of the automotive metals sector, some context is needed.