Editor's focus

Article Abstract:

Participants at an annual conference sponsored by the Institute of Scrap Recycling Industries Inc have noted a disturbing trend on investment activities conducted through the London Metals Exchange. Fifty percent of all transactions on the LME in 1999 were made by investors who had no intent to actually hold the commodity in inventory or consume it to make products, compared to 35% in 1997 and 15% in 1995. This means that if 50% of speculators are conudcting their trades based on sentiment, then actual supply, demand and inventory issues could become irrelevant.

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Heartland work ethic

Article Abstract:

The American Compressed Steel Inc (ACS) has made its mark in the highly competitive scrap business because of its sound business practices and outstanding track record in customer service. ACS deals in prompt industrial scrap which it directly gets from all metal-based manufacturers. This gives ACS the advantage of meeting customers' specific needs for materials. In addition, ACS is an active supporter of environmental causes and implements environment-friendly policies in its practices.

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Progress Energy Inc. considers selling scrap processing business

Article Abstract:

Progress Rail Services Corp of Albertville, AL, the railroad equipment supplier and scrap metal unit of Progress Energy Inc of Raleigh, NC, is being considered for sale. Progress Energy, which has hired a financial adviser to study the alternatives, is also said to be eyeing the sale of its shipping unit MEMCO Barge Lines Inc. Progress Energy became the owner of the two units of Electric Fuels Corp when it acquired Florida Progress Corp of St. Petersburg, FL, in Nov 2001.

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