Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Metals

Post-Sandy US scrap metals tight, more plentiful later: trade

Electricity | Electric Power | Electric Power Risk | Renewables

US power sector faces challenges from lower utility load, global trade uncertainty

Electric Power

Platts M2MS-Power

Commodities | Metals | Non-Ferrous | Aerospace & Defense | Autos & Capital Goods | Materials | Building & Construction | Transportation

Aluminum Symposium 2020

Metals

US Steel to idle East Chicago tin mill in Indiana

Post-Sandy US scrap metals tight, more plentiful later: trade

Highlights

The US scrap metals industry is expecting tightening flows in theshort-term and increased flows in the long-term as power and normalcy areslowly being restored to northeastern US coastal areas decimated by HurricaneSandy, market sources said Tuesday.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

With difficulties obtaining fuel and power outages shutting shreddersand scrap yards, concerns about tight scrap supplies, which existed wellbefore the storm in New York/New Jersey area, have been exacerbated.

"At this point the storm won't generate a lot of scrap," one East Coastscrap source said Tuesday. "It will take awhile to get in the pipeline. Inthe short-term, we have a shortage," he added.

With delays related to insurance claims, many scrap market participantscontacted did not expect to see material from the storm this month.

"Whatever cars were destroyed, they will come into the market over sucha long period of time, it will just dribble in like it did with [Hurricane]Katrina," the East Coast scrap source added.

Katrina reportedly sent more than a half-million vehicles to scrapyards, but it is premature to estimate Sandy's vehicle destruction tally.Scrapped vehicles contribute multiple metals and materials to the scrapstream, including steel, lead batteries, aluminum, copper, and resins.

A New York scrap yard source who avoided most of the damage associatedwith Sandy still reported a substantial dropoff in normal flows throughoutlast week and into this week.

"Our customers dropped off; no one has gas," the New York source said."It will take awhile to start seeing this scrap. We are starting to see smallthings, but there are a lot of insurance claim issues."

A New Jersey scrap yard that was down last Monday through Thursday citedlines of people at yards in residential areas, and much of the scrap beingcollected was aluminum, according to a worker there.

"We have no processing equipment, but we were able to run the office andscale on generators," an employee at the New Jersey yard said.

--Nicholas Tolomeo; nicholas_tolomeo@platts.com--Edited by Robert DiNardo, robert_dinardo@platts.com