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Meltdown
of non-ferrous metal market
Slow industrial growth and credit crisis
are contributing factors
by
Brian R. Hook 
Fears of a prolonged recession, thanks
to the world-wide credit crisis, is putting
pressure on prices of non-ferrous metals,
hurting scrap metal processing companies.
“We have witnessed a meltdown of
pricing in the non-ferrous sector,” said
Jeff Solomon, chief executive of Montreal-based
Globe Metal Recycling Services, Inc.
“Low prices have a devastating effect
on recyclers. With these low prices there
is virtually no margin left on a wide
range of (non-ferrous) items and these
items will become part of growing inventories
of unsold materials accumulating in scrap
yards.”
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