Before this project began, the forum was used to gather information. Because of information provided by members four large metal buyers have visited the facility at their cost and will be providing bids. They include Sims out of VA (largest metal recycler in the world), Acme (out of Chicago is one of the largest in the U.S.), Alters in the Midwest (they have 51 scrap yards), and a fourth one I cannot disclose at this time. We have direct access to fill gondola rail cars for direct shipment to their refineries. A safety cushion has been created to truck or send by rail car to two more regional steel yards. Since this facility is located on the river, we are looking at shipping the iron by barge as well.
Each company sent representatives to view the plant and each was asked to bring a metal gun to identify precious metals. We plan to color code special metals for sorting later. My conservative estimate of 5,000 tons of steel has been increased to 10,000 tons by the experts.
All of the companies submitted bids in two scenarios. First, if we loaded and shipped the metal and the second was for them to pick up at the site. We will be using the Iron Age index as a guide for market fluctuations. Working with metal buyers at this level has defiantly increased my knowledge of the metal industry.
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