Scrap

• UK shredded price premium said eroding Apr 19, 2013

  The price premium that British shredded scrap has long enjoyed over U.S. material is eroding due to Indian steel mills’ sporadic demand for shred, some market participants said.

• CMC Texas mill reinforces turnings specs Apr 19, 2013

  Commercial Metals Co. (CMC) has sent scrap suppliers servicing its mill in Seguin, Texas, a letter reinforcing specifications for machine shop turnings after issues emerged with contaminated supply.

• Ohio scrapyard executive faces tax evasion charges Apr 19, 2013

  The chief operating officer and part owner of Marion, Ohio-based recycler Sims Bros. Inc. has been accused of not paying nearly $900,000 in taxes on about $2.2 million in unreported income over a five-year period.

• Italy’s Danieli folding Iowa’s Riverside into recycling unit Apr 19, 2013

  Italian steel and engineering firm Danieli & C. Officine Meccaniche SpA has acquired Riverside Products Inc. from Sivyer Steel Corp.

• Asset Metal Recovery eyes Texas site for new yard Apr 19, 2013

  Asset Metal Recovery LLC wants to open a scrap processing plant in Italy, Texas, where it is based.

• Copper mine outage sparks shift to scrap Apr 18, 2013

  Domestic copper consumers that can use high-grade scrap are "scrambling" to find out about its availability in the wake of an outage at Kennecott Utah Copper’s Bingham Canyon Mine.

• Chicago flooding creates headaches Apr 18, 2013

  Torrential rains in and around Chicago caused highway closures and headaches for some area metals companies toward the end of this week, although most reported minimal lasting impact.

• Producers call for change as Nasaac tumbles Apr 18, 2013

  A decline in the price of the London Metal Exchange’s cash North American special aluminum alloy contract (Nasaac) has prompted some domestic alloy producers and die casters to once again re-evaluate the legitimacy of the contract, sources said.

• Outlook for steel hazy but brightening: SDI's Millett Apr 18, 2013

  While the steel market is clouded by uncertainty, positive indicators in construction and continued strength in automotive point to brighter prospects for the future, the top executive at Steel Dynamics Inc. (SDI) said.

• All eyes on US mart as Turks buy foreign scrap Apr 18, 2013

  Two Turkish steel mills bought three bulk scrap cargoes from Europe and Russia this week, turning the spotlight on the United States as the market awaits the next price level for U.S. scrap.

• OmniSource mum on May scrap trend Apr 18, 2013

  OmniSource Corp.’s top executives are keeping the expected direction of May ferrous scrap prices close to the vest.

• US nonferrous scrap exports mixed in Feb. Apr 18, 2013

  U.S. exports of nonferrous scrap showed mixed results in February.

• Steel Dynamics posts net income of $48.2M Apr 17, 2013

  Steel Dynamics Inc. posted first-quarter net income of more than $48.2 million, up 5.6 percent from nearly $45.7 million in the same period last year but down 20.4 percent from $60.6 million in the final three months of 2012.

• Mississippi governor signs new scrap bills Apr 17, 2013

  Mississippi Gov. Phil Bryant has signed into law two scrap recycling bills, one that gives tax breaks to recyclers in the state and another that requires them to be certified in order to recycle electronics. Both laws take effect July 1.

• Scrap container market awaits Indian buyers Apr 17, 2013

  U.S. exports of containerized ferrous scrap to India have failed to gain momentum despite an encouraging currency level as demand from Indian steel mills remains uncertain.

• Scrap shipping costs set to rise at Gerdau mill Apr 17, 2013

  The cost of shipping scrap metal to Gerdau Long Steel North America’s mill in Sayreville, N.J., is likely to climb after the mill announced it would not allow trucks to exceed state-imposed weight limits.

• Pan Atlantic Metals taps Greenberg director Apr 17, 2013

  Scott Greenberg has been named director of Pan Atlantic Metals, the North American arm of Hong Kong-based Pan American Metals Ltd.

• Exide facing health allegation lawsuit Apr 17, 2013

  Exide Technologies Inc., a major manufacturer and supplier of lead-acid batteries, is facing a class-action lawsuit in connection with alleged arsenic emissions at its Vernon, Calif., recycling facility.

• Scrap industry veterans mull expanding Dallas presence Apr 17, 2013

  A pair of scrap industry veterans are planning to start up a new metal recycling facility in Dallas.

• Tokyo Steel’s ferrous scrap purchase prices cut again Apr 17, 2013

  Japanese ferrous scrap prices look set to fall again after Tokyo Steel Manufacturing Co. Ltd. cut its purchase prices effective April 17.

• Export dock prices fall as container tags slide Apr 16, 2013

  A big fall in West Coast ferrous scrap export prices for containerized scrap over the past two weeks has forced several exporters to lower their buying prices for material delivered to their yards.

• US ferrous scrap exports rise in February Apr 16, 2013

  U.S. ferrous scrap exports in February rose marginally from the same month last year as China’s return to the market helped compensate for lower shipments to other large consumers.

• TMS International hires Rob Garbaty Apr 16, 2013

  TMS International Corp. has named Rob Garbaty manager of trading in Ontario for its raw material and optimization group.

• Beck Aluminum shuts down one furnace Apr 16, 2013

  Beck Aluminum Alloys Ltd. has shut one of two furnaces at its Racine, Wis., plant due to unfavorable margins and a continued tightness in scrap, a company source told AMM.