Kite-flying weather.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 scrap prices in February soared to heights seldom reached by the secondary commodity, spurred by fierce competition between Asian and North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. buyers of scrap metal. Consumers of the material began seeing some hope in late February that a peak had finally been reached, although a scarcity Scarcity The basic economic problem which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently. of generated material could still put a good deal of leverage in the hands of sellers. As reported earlier, the scarcity (and price) of scrap has caused North American consumers to explore the notion of export restrictions Export restrictions (Restriction on exportation) are restrictions to the quantity of goods exported to a specific country or countries by the government. This is mainly: The idea is not unique to North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Already this year, South Korea and some of the former Soviet republics have enacted export bans as a way of coming to the assistance of their domestic steelmakers and foundry operators. A March hearing before a House of Representatives committee, however, seemed to temper the notion in the U.S. (See "Testimony Addresses Scrap Import Ban" on page 10 of this issue.) The market that processors and consumers are grappling with saw record amounts being paid for ferrous scrap in February and concerns by some processors that sufficient scrap to meet demand is becoming increasingly hard to find. Some consumers who are also generators have reacted by attempting to make arrangements to keep some of their scrap in a closed corporate loop. The idea is not totally new, as Ford Motor Co., working with Alcan Aluminum Corp. and OmniSource Corp., initiated such a system for aluminum scrap back in the summer of 2002. (See "Full Circle," Feb. 2003 Recycling Today.) According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a report in American Metal Market, Ford and DaimlerChrysler Corp. are offering far fewer scrap bundles to the open market. Industry observers believe the companies are bartering the bundles with steelmakers to secure better pricing for finished steel for their stamping plants. For now, recyclers are scrambling to find suitable material to fill orders. One recycler claims that his operating region has been stripped clean of stockpiled auto hulks and other once-plentiful sources of obsolete scrap. "We're at a point where 500 cars in one yard is a nice find," he remarks. "We just bought the last sizable stockpile stock·pile n. A supply stored for future use, usually carefully accrued and maintained. tr.v. stock·piled, stock·pil·ing, stock·piles To accumulate and maintain a supply of for future use. I knew of that was in this entire region." (Additional ferrous market news is available online at www.Recycling Today.com.) |
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