Scrap

• E-cycler lands $35M infusion Dec 21, 2011

  Texas wireless device recycler eRecyclingCorps has received $35 million from Menlo Park, Calif.-based venture-backing firm Kleiner Perkins Caufield & Byers.

• Novelis allots $50M for Brazilian coating line Dec 21, 2011

  Aluminum producer Novelis Inc. will invest some $50 million to install a coating line for beverage can end stock at its rolling and recycling complex in Pindamonhangaba, Brazil, the company said Wednesday.

• METAL THEFT: Sita UK launches cashless payment system for scrap Dec 21, 2011

  Recycling and resource management company Sita UK has gone cashless.

• Indian ferrous scrap import offer prices flat on slow buying Dec 21, 2011

  Offers for containerised ferrous scrap imported into India increased this week, as UK and US exporters raised their prices on stronger demand for scrap.

• DAILY SCRAP REPORT: Market activity quietens in buyer/seller stand-off Dec 21, 2011

  Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun rose to $459.14 per tonne on an HMS 1&2 (80:20) basis on Wednesday December 21, down 2 cents.

• Scrap offers into SE Asia up $30 as supply contracts over winter Dec 21, 2011

  Ferrous scrap offers into Southeast Asia have risen by as much as $30 in the past two weeks on tight supply.

• Ferrous scrap export tags lift as demand rises Dec 20, 2011

  December’s scrap export market is bubbling, with East Coast exporters attempting to fill orders as quickly as possible and West Coast exporters seeing strong demand from the Pacific Rim.

• UBC deposit return systems create more jobs, study says Dec 20, 2011

  Returning used beverage cans (UBCs) that are earmarked for recycling in order to recoup a deposit creates more jobs than curbside efforts do, according to a recent study by the Container Recycling Institute (CRI).

• Fla. yards avert tag-and-hold rule Dec 20, 2011

  Recyclers in Florida have convinced Sarasota county commissioners to adopt a softer version of a scrap metal ordinance.

• Recycler opens at former Mo. foundry site Dec 20, 2011

  Jim Brinker Recycling Inc. has purchased a former foundry on a 15-acre site in Washington, Mo., and converted it into a recycling facility.

• DAILY SCRAP REPORT: Higher offers push index up Dec 20, 2011

  Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun rose to $457.51 per tonne on an HMS 1&2 (80:20) basis on Tuesday December 20, up $1.65 from $457.51 on December 19.

• METAL THEFT: UK police clamp down on metal theft with new taskforce Dec 20, 2011

  The UK’s Metropolitan Police Service (MPS) is launching its first dedicated unit to tackle metal theft, it said on Monday, December 19.

• UBC recycling rate slips 9.2% in Nov. Dec 20, 2011

  Aluminum used beverage can (UBC) recycling rates reversed course in November, posting a decline after logging slight gains in October.

• CMC urges rejection of Icahn bid, nominees Dec 19, 2011

  Commercial Metals Co.’s board of directors on Monday urged shareholders to reject billionaire investor Carl Icahn’s $15-per-share hostile bid for the company and to reject nominees to its board who it says are tied to Icahn.

• Schnitzer braces for quarterly loss amid volatility Dec 19, 2011

  Schnitzer Steel Industries Inc. expects its fiscal first-quarter financial results to be lower than previously projected due to weaker-than-anticipated global market conditions for recycled metals, the company said Monday, citing heightened worldwide recessionary concerns related to the European debt crisis.

• Shipper sues recyclers over containers Dec 19, 2011

  A French container shipping company is suing recyclers in two states for more than $1.6 million over 61 allegedly missing containers, and is asking the court to have the shipping boxes seized.

• Sims to install tanks at its North Carolina yard Dec 19, 2011

  Sims Metal Management Inc. has been given approval to upgrade the North Carolina scrapyard it purchased earlier this year.

• Kentucky scrap yard victim of altered scale receipts Dec 19, 2011

  Four people have been arrested after allegedly altering scale tickets and stealing more than $10,000 from an Olive Hill, Ky., scrapyard.

• Empire Recycling buys hauling company Dec 19, 2011

  Empire Recycling Corp. received permission from the Syracuse, N.Y., common council earlier this month to open an indoor recycling facility at an existing facility.

• DAILY SCRAP REPORT: Index rises on higher transaction levels Dec 19, 2011

  Metal Bulletin’s Daily Ferrous Scrap Index cfr Iskenderun rose to $457.51 per tonne on an HMS 1&2 (80:20) basis on Monday December 19, up from $453.76 on December 16.

• BMRA will take bigger role in scrap theft legislation in 2012 Dec 19, 2011

  The British Metals Recycling Assn (BMRA) will be more proactive concerning scrap metal theft legislation in the UK in 2012, after the issue gained traction following a spate of high-profile thefts this year.

• TMS gets increased credit line Dec 16, 2011

  TMS International Corp. said some of its subsidiaries, including scrap broker and mill services provider Tube City IMS Corp., have entered into a five-year, $350-million secured asset-based revolving credit facility.

• Hussey lawsuit vs. Sims unit settled Dec 16, 2011

  Hussey Copper Corp. has settled its complaint against Metal Management Pittsburgh Inc., a subsidiary of Sims Metal Management Ltd., with Sims agreeing to return nearly $840,000, according to documents filed in U.S. Bankruptcy Court in Delaware.

• Correction: N. America tire recycling tech heading to China Dec 16, 2011

  China generates an estimated 300 million scrap tires per year. Due to a reporting error, a story in the Dec. 16 edition misstated the number as 3 million.