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Prices for whole junk batteries fell May 7 as weakening terminal markets and improved scrap flows led to a 2-cent-per-pound decline, sources said.
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Export Global Metals Inc. is suing Memking Recycling Group LLC and Components & More Inc., both of Carrollton, Texas, for alleged breach of contract over the quality of shipments of computer cables to China.
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Chinese copper imports fell 27.2 percent year on year and 7.4 percent month on month in April as open arbitrage failed to draw in enough shipments.
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The state of Ohio continues to top the National Insurance Crime Bureau (NICB) list of metal theft claims, while copper remains by far the material most often reported stolen.
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China’s push to enforce rules on imports of certain recycled and waste products is focusing primarily on trade activities at major coastal ports and the provinces of Anhui, Hubei, Hunan and Jiangzi, according to an industry group.
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Appliance Recycling Centers of America Inc. (Arca) returned to profitability in the first quarter, citing the replacement of white goods by consumers as a driving force.
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China’s “Operation Green Fence,” which has stepped up enforcement of restrictions on raw material imports, has caused an oversupply of shredded aluminum scrap in the United States, sources told AMM.
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Camden Iron & Metal Inc. is suing the former owners of its scrapyard in Albany County, N.Y., in an effort to force them to pay for environmental remediation efforts at the site.
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The Oregon Department of Environmental Quality said it has fined Metal Movers LLC more than $17,000 for alleged environmental violations at its metals recycling facility in Helix.
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Plans are under way to launch a family of finished steel and scrap metal futures products in the United States this year to provide buyers and sellers along the steel supply chain another set of tools to help manage price volatility.
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PSC Metals Inc. continues its struggle to return to profitability, chalking up another first-quarter loss amid weaker ferrous shipments and selling prices.
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Steel mills and their suppliers spent little time negotiating scrap prices in Chicago and Indiana this past week as both sides agreed to follow a mostly down-$20-per-gross-ton trend set a few days earlier in Detroit.
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Some domestic steel mills may be considering moving away from using scrap-based raw material surcharges as a component in their finished steel pricing as recent volatility in scrap prices erodes suppliers’ pricing power, sources familiar with the situation said.
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Prices for secondary aluminum smelter-grade scrap maintained their slide May 2, with sources telling AMM that buyers continue to test the lower levels of the market.
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Prices for deoxidized aluminum weakened slightly in April as intense price competition brought the overall market down, producers said.
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Midwest ferrous scrap trading kicked off in earnest May 2 in such key regions as Chicago and St. Louis, with prices closely following downward trends established a day earlier in nearby Detroit.
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Copper scrap discounts continued to tighten May 1 as market participants grappled with wide fluctuations on Comex that one trader said are not "necessarily reflective of actual supply and demand figures."
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Prices for scrap aluminum wheels have fallen slightly since last month as demand from producers of 356.1 alloy has weakened, according to market sources.
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Stainless steel scrap prices continued to fall in the United Kingdom last week on the back of declining demand and falling nickel prices.
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Novelis Inc.’s new high-recycled-content aluminum sheet product for the beverage can market is commercially available in North America and Europe, and will be accessible worldwide later in 2013, the company said May 2.
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New laws aimed at stemming metals theft in North Dakota are now in effect, putting a cap on cash payments and requiring recyclers to boost their record-keeping.
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Steel mills in Detroit were once again the first out of the gate this month with scrap price bids that met earlier speculation of a down market.
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Eighteen people have been indicted for their alleged involvement in a multimillion-dollar copper theft ring.
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Due to an editing error, an April 30 article misstated European ferrous scrap exports. A quarterly report released this week by the Bureau of International Recycling showed that U.S. exporters shipped nearly 21.4 million tonnes of ferrous scrap in 2012, or about 2 million tonnes more than the cumulative total exported by 27 European Union countries.