15 JULY 2011http://online.wsj.com/
Metal Manufacturers Turn To Scrap For Savings
Edited by : AL CIRCLE
1 min read
Strong demand lifts scrap metal prices faster than prices of "virgin" or new metal
--Price gap between Comex copper and high-grade scrap copper shrank to 31 cents a pound from 49 cents a pound at the start of 2011
--Asian demand strains U.S. scrap supply
NEW YORK (Dow Jones)--Metal manufacturers are raiding the scrap heap to save money, pushing up demand--and prices--for recycled metal.
Scrap prices are rising faster than prices for new metal in important markets like copper, aluminum and steel, as demand grows from U.S. manufacturers looking to save on energy costs, and from Asian buyers.
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