A longer ride. (Ferrous).The harsh ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which market has had many effects on scrap recyclers, including slower flow, thinner margins and a hunt for new markets if a favorite mill shuts down. One of the unexpected effects has been reconsidering shipping options, especially for processors whose nearest scrap destination is among the casualties in the mill and foundry capacity shakeout Shakeout A situation in which many investors exit their positions, often at a loss, because of uncertainty or recent bad news circulating around a particular security or industry. Notes: During the dotcom boom and bust, numerous shakeouts occurred. . Several processors in Ohio say that they have increasingly turned to rail shipping to affordably reach new consuming markets. Northern Ohio has seen the closing of LTV LTV See: Loan-to-value ratio Corp.'s integrated mills in Cleveland as well as the CSC (Card Security Code) A three- or four-digit number printed on the back of credit cards for security purposes. Called "Card Verification Value" (CVV) by Visa, "Card Validation Code" (CVC) by MasterCard and "Card Identification (CID) by American Express and Discover, Co. electric arc furnace An electric arc furnace (EAF) is a furnace that heats charged material by means of an electric arc. Arc furnaces range in size from small units of approximately one ton capacity (used in foundries for producing cast iron products) up to about 400 ton units used for secondary shop in Warren, Ohio Warren is a city in the U.S. state of Ohio and the county seat of Trumbull CountyGR6. The municipality is located in northeastern Ohio, approximately 14 miles (22 km) northwest of Youngstown and 15 miles (24 km) west of the Pennsylvania state line. . An Akron scrap processor says the percentage of ferrous scrap leaving his yard by rail has now surpassed 50 percent, where just a couple of years ago that number would have been as low as 20 percent. A trucking company manager confirmed that his company has been seeking work in other industries to replace the volume lost in the ferrous scrap sector. That volume has gone down both because of reduced overall ferrous scrap activity and because of the resurgence of rail shipping. "In recent months, the percentage of our business from hauling scrap has come in around 20 percent, where it used to be closer to 40 percent," says the trucking company official. For their part, Class I rail companies have helped themselves by maintaining better schedules now that postmerger logistical lo·gis·tic also lo·gis·ti·cal adj. 1. Of or relating to symbolic logic. 2. Of or relating to logistics. [Medieval Latin logisticus, of calculation problems have been eased. They have also kept rates low, with some rail companies expected to introduce lower rate structures in the first half of 2002. No. 1 Heavy Melt Composite Pricing (Per gross ton, monthly average) January 2001 $84.83 February $75.37 March $76.77 April $77.90 May $76.67 June $78.62 July $79.81 August $80.00 September $80.00 October $73.29 November $64.97 December $65.00 January 2002 $69.97 Source: American Metal Market Note: Table made from bar graph. |
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