Scrap

• CMC sees scrap prices heading lower Oct 28, 2011

  Scrap prices have come under pressure and the downside appears to be picking up momentum, according to the top executive at Commercial Metals Co. (CMC).

• Spooner Metals asks court to block suspension Oct 28, 2011

  An attorney for Spooner Metals LLC is expected to ask a Michigan court for an injunction barring the city of Flint from shutting down the scrapyard for 60 days.

• DAILY SCRAP REPORT: Index drops to $422, market sources optimistic Oct 28, 2011

  MB’s Daily Ferrous Scrap Index cfr Iskenderun fell to $422.94 on an HMS 1&2 (80:20) basis on Friday, down from $423.35 on October 27 as prices to Turkey drifted

• UK 18/8 stainless steel scrap solids prices follow nickel higher Oct 28, 2011

  UK inter-merchant 18/8 stainless steel scrap solid prices rose this week as the London Metal Exchange’s three-month nickel price pushed higher, market participants told MB

• China cancellations irk US scrap exporters Oct 27, 2011

  China’s steelmakers aren’t just burning small U.S. ferrous scrap exporters when they cancel orders—some domestic bulk cargo shippers are also steaming over recent sales cancellations that occurred after their ships have left the docks.

• Titanium scrap tags slide 12.3% in auction Oct 27, 2011

  A benchmark titanium scrap auction price has tumbled, reinforcing reports of a fall in the market.

• Weitsman extending workweek Oct 27, 2011

  Upstate Shredding LLC-Ben Weitsman & Son Inc.’s scrapyards in Owego, Rochester, Binghamton, Jamestown and Syracuse, N.Y., will join its Scranton, Pa., facility in opening for business on Sundays beginning Nov. 6.

• Former scrap accountant admits taking over $800K Oct 27, 2011

  A former accountant in Louisiana has pleaded guilty to wire fraud, mail fraud, making false statements and failing to pay more than $800,000 in taxes from a scrap metal business to the Internal Revenue Service (IRS).

• Tokyo Steel reduces scrap prices again Oct 27, 2011

  Tokyo Steel has reduced its purchase prices of all grades of scrap by ¥500 ($7) per tonne for deliveries to all five of its works, taking prices down to their lowest in over a year

• SE Asia ferrous scrap prices down $10 as demand stays sluggish Oct 27, 2011

  Ferrous scrap prices in Southeast Asia fell $10 per tonne this week as demand in the region remains at a low ebb

• August shredded exports bounce back Oct 26, 2011

  Stronger demand from Turkey and several Far East nations boosted shredded scrap exports to their highest one-month total so far this year.

• Spooner Metals fights 2-month suspension Oct 26, 2011

  Officials in Flint, Mich., have suspended a local recycler’s operating license and fined a second recycler following an investigation that led to the discovery of city manhole covers in both yards.

• Health officials shut, fine Maui scrap processor Oct 26, 2011

  Hawaiian health officials have fined a Maui scrap processor and auto wrecker $73,900 and ordered the company to cease operations, accusing it of failing to obey the state’s solid waste management regulations.

• US hot-rolled steel tags fall to summer lows Oct 26, 2011

  U.S. steel prices have returned to lows last logged at the height of the summer doldrums on the back of sluggish fourth-quarter demand and continued oversupply issues, according to industry indices and market sources.

• Scrap industry slams EPA 'waste' proposal Oct 26, 2011

  The scrap metal industry has come out in force to slam the U.S. Environmental Protection Agency’s proposed definitions of nonhazardous solid waste and hazardous waste.

• US ferrous scrap tags to remain under pressure Oct 26, 2011

  The downward trend in the U.S. ferrous scrap market appears set to carry into November, according to analysts at Canaccord Genuity Inc., estimating that No. 1 heavy melt export prices from the East Coast will fall $20 per ton for the month.

• Indian ferrous scrap prices weaken on falling demand, liquidity issues Oct 26, 2011

  Indian ferrous scrap prices once more fell slightly this week as the Diwali holiday saw demand drop off, market participants told MB

• DAILY SCRAP REPORT: European ferrous scrap offer prices fall again, mills look at $400 cfr Oct 26, 2011

  MB’s Daily Ferrous Scrap Index cfr Iskenderun fell to $424.22 on an HMS 1&2 (80:20) basis on Wednesday, down from $427.69 on October 25 as prices to Turkey headed downward

• Alloy tags steady, awaiting scrap cues Oct 25, 2011

  Secondary aluminum alloy prices for the most part remain unchanged amid low volumes and volatile primary aluminum prices on the London Metal Exchange.

• Schupan, Tomra opt for natural gas at JV operation Oct 25, 2011

  Scrap recycler Schupan & Sons Inc. and vending machine maker Tomra North America Inc. will convert to natural gas a 16-vehicle fleet at joint-venture company Used Beverage Container Recovery LLC (UBCR).

• Scrap company acquires large trailer fleet Oct 25, 2011

  Scrap Metal Services LLC (SMS) and Tiburon, Calif.-based Milestone Equipment Corp. have acquired 7,300 intermodal dry van trailers from GE Capital.

• 178 countries vote for ban of e-waste exports to developing countries Oct 25, 2011

  The United States could face increased pressure to adopt the Basel Ban Amendment—prohibiting all exports of hazardous waste, including electronic waste and obsolete ships from developed to developing countries—as 178 countries agreed to allow it into law.

• BIR: Ferrous scrap prices likely to stay high in near-term, Tata chief Kohler says Oct 25, 2011

  Ferrous scrap prices are likely to stay high in the near term as available steel for recycling remains scarce, Tata Steel Europe ceo and md Karl Ulrich Köhler said on Tuesday

• BIR: Current margin for steelmakers using ferrous scrap is still good, Bird says Oct 25, 2011

  The current margin for European steelmakers using ferrous scrap is still “comfortable” despite billet and rebar price falls outpacing raw material price falls, according to Tom Bird, president of European Ferrous Recovery (EFR) and md of Van Dalen Recycling UK