Scrap

• Ex-bookkeeper accused of stealing from NY scrapyard May 13, 2013

  A former office manager and bookkeeper for a New York recycler has been accused of embezzling more than $600,000 from the company.

• Harsco bearish on near-term outlook May 13, 2013

  Harsco Corp. returned to profitability in the first quarter but expects to see revenue curbed by continued lower steel production volumes at the mills it serves.

• Midwest Scrap Index falls 5 percent in May May 10, 2013

  Midwest ferrous scrap prices dropped about 5 percent in May as sellers had little room to prop up prices on cues of weak domestic and export demand.

• Longtime S. Carolina recycler opens 3d site May 10, 2013

  Edward M. Sisk Inc. has opened its third metal recycling facility, marking a departure for the 67-year-old South Carolina company, which previously resisted expansion.

• Government moves to keep $1.2M seized from Ohio scrapyard May 10, 2013

  Ohio Scrap Corp. is facing the permanent loss of $1.2 million seized in an Internal Revenue Service raid last November.

• Aluminum alloy tags fall on looser scrap supply May 10, 2013

  Secondary aluminum alloy prices dipped May 9, with a slight loosening of scrap supply allowing producers to acquire raw materials at more attractive levels.

• ISA restructures board as Kletter retires May 09, 2013

  Industrial Services of America Inc. (ISA) has changed its corporate governance structure and management following the retirement of its founder and chief executive officer Harry Kletter on May 7.

• Turkey sends bulk export prices down again May 09, 2013

  U.S. bulk ferrous scrap export prices have fallen for the second time in as many weeks as mill buyers in Turkey continue to drive prices down amid weak demand.

• Scrap flows, spreads hurt Aleris in 1st qtr. May 09, 2013

  Tight scrap flows and low spreads weighed on Aleris International Inc.’s first-quarter earnings, as weak prices on the London Metal Exchange continued to present significant challenges to near-term growth, company executives said on an earnings call May 9.

• Metalico logs $1.2M loss in 1st qtr. May 09, 2013

  Metalico Inc. posted a net loss in the first quarter, due in part to overcapacity that has plagued the entire scrap metal industry, the company said.

• India slaps new duties on scrap metal imports May 09, 2013

  The introduction of a new trade barrier on ferrous and nonferrous scrap metal by the Indian government has sparked outrage among U.S. exporters and Indian importers who expect volumes shipped to India to drop significantly as a result of the new fees.

• Correction: TMK’s Oman pipe poised to arrive in US May 09, 2013

  Due to a reporting error, an article in the May 8 edition incorrectly identified the headquarters of TMK Ipsco. The domestic subsidiary of Russian steelmaker OAO TMK, is based in Houston.

• Discounts for copper scrap widen in US May 09, 2013

  Most copper scrap discounts widened May 8 as market participants said that the secondary market was reacting to a recent recovery in Comex pricing.

• Owner of Chicago yard faces new charges May 09, 2013

  The owner of a Chicago scrapyard where eight stolen school buses were found shredded has been slapped with a host of new charges.

• Judge tosses TXCAT’s lawsuit against Phoenix May 08, 2013

  A judge has dismissed a lawsuit against Phoenix Group Metals LLC after determining the plaintiff failed to prove it had incurred a loss as a result of the alleged actions, Phoenix Group Metals said in a statement.

• Nations deny e-cycling policy change May 08, 2013

  Developing nations have successfully fought off certain Basel Convention policy changes aimed at regulating shipments of electronic recycling products to their countries.

• Container scrap prices slide as Taiwan retreats May 08, 2013

  West Coast export prices for containerized ferrous scrap have retreated to late-April levels following the end of a brief demand spike from Taiwan.

• Scrap lead battery prices decline May 08, 2013

  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.

• Export Global Metals sues supplier over copper yield May 08, 2013

  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.

• China's copper imports fall in April May 08, 2013

  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.

• Ohio tops metal theft claims list: NICB May 07, 2013

  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.

• China ports said overreacting on scrap rules May 07, 2013

  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.

• Arca returns to profitability despite sales dip May 07, 2013

  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.

• Zorba glut causes concern for US scrap market May 07, 2013

  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.