MARKET UPDATE

摘要

Steel mills ended this fall with too much finished product, and thus slashed output and cut scrap orders. At the same time, foreign mills reduced their purchase of U.S. scrap metal. Thus, domestic mill buyers have regained control of the market, and, as a result, prices have fallen sharply. Consolidation in the scrap processing industry continues unabated. A. Tennenbaum Co. (North Little Rock, Arkansas) has acquired Hummelstein Iron and Metal (Jonesboro, Arkansas) and Tom-Bar Recycling in Harrison and Berryville, Arkansas. Publicly traded Sims Group (Chicago) has acquired Weinert Recycling, the operator of scrap processing facilities in Middletown and Liberty, New York. Ponce Resources (Salinas, Puerto Rico) has been purchased by publicly traded Schnitzer Steel Industries, Inc. (Portland, Oregon). Ponce Resources operates four scrap yards, including one shredder operation.