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Carl Icahn continues his penchant for bargain share prices and scrap metal, initiating holdings in Commercial Metals Co. (CMC). White Plains, N.Y.-based Icahn Capital LP has purchased 2,457,053 shares of the Irving, Texas-based steel producer and metals recycler, according to a regulatory filing. Icahn also owns Knoxville, Tenn., recycler PSC Metals Inc. through Icahn Enterprises LP. CMC recycles 2,535,000 tons of ferrous scrap and 239,000 tons of nonferrous scrap annually through its Americas Recycling segment. CMC's stock was trading at $14 on the New York Stock Exchange Wednesday, up less than 1 percent from a Nov. 1 close of $13.88 per share but almost 23-percent below the 52-week high of $18.18 per share.
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Carl Icahn, with his penchant for bargain share prices and scrap metal, has initiated holdings in Commercial Metals Co. (CMC).
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Pennsylvania’s House of Representatives on Monday approved legislation that would establish an electronics recycling program for the state.
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Mill grade aluminum scrap prices joined primary aluminum in a free fall Tuesday even as mill demand for scrap remained healthy.
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Mill grade aluminum scrap prices joined primary aluminum in a free fall Tuesday even as mill demand for scrap remained healthy.
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European buyers have been building a greater presence in the high-grade copper scrap market, boosting their intake of U.S. material more than 10 percent in September.
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European buyers have been building a greater presence in the high-grade copper scrap market, boosting their intake of U.S. material more than 10 percent in September.
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Secondary aluminum alloy prices have moved 1 to 2 cents per pound higher due to strong scrap prices and demand.
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Electronics Recyclers International Inc. (ERI) plans to expand its operations overseas.
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Timken Co. is making the leap into the scrap metals business with the planned acquisition of City Scrap & Salvage Co. in Akron, Ohio.
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A stronger dollar and higher prices pulled down nonferrous scrap export volumes in September as major Asian consumers reduced their aluminum and zinc scrap purchases.
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Electronics Recyclers International Inc. (ERI) plans to expand its operations overseas.
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A stronger dollar and higher prices pulled down nonferrous scrap export volumes in September as major Asian consumers reduced their aluminum and zinc scrap purchases.
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Timken Co. is making the leap into the scrap metals business with the acquisition of City Scrap & Salvage Co. in Akron, Ohio.
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Offshore demand for ferrous scrap remains strong, with buyers from the eastern Mediterranean and Asia both scooping up all the metal they can get from U.S. docks, industry sources said.
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Offshore demand for ferrous scrap remains strong, with buyers from the eastern Mediterranean and Asia both scooping up all the metal they can get from U.S. docks, industry sources said.
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Brazilian pig iron export prices are on the rise with the booking of a deal to the United States following three weeks of no reported activity.
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A legislator in yet another African country is targeting scrap, with Edward Chindori-Chininga, chairman of Zimbabwe’s Parliamentary Portfolio Committee on Mines and Energy, calling on national government to ban the export of scrap metals, according to an Internet news report.
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A Pennsylvania ferrous scrap recycler has begun a $2-million expansion adding a nonferrous recycling facility.
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A Pennsylvania ferrous scrap recycler has begun a $2-million expansion adding a nonferrous recycling facility.
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Burnham Foundry LLC has agreed to pay a $17,000 civil penalty to settle air pollution violations at its iron castings plant in Falls Township, Ohio.
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China wants to raise its ferrous scrap consumption in steelmaking to more than 20 percent of total raw materials by the end of 2015, a Nanjing Steel official said, citing the latest proposals for China’s five-year plan.
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New recycling contracts continue to bode well for Appliance Recycling Centers of America Inc. (Arca), which saw its earnings more than double in the third quarter.
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An Atlanta, Ga., Burger King franchise owner is seeking to move to a federal court its legal battle with OmniSource Corp.’s southern unit over a misplaced delivery of $127,000 destined for one of its scrapyard’s ATM machines.