Overseas buyers are offering low bids, but for obsolete grades they could be hitting a processing cost floor.

Steel mills around the world have been able to pay less for their scrap the past two months, but offers being made for heavy melting scrap (HMS) may be testing a price floor for processors and shippers.

Offers and transactions reported by metals pricing service Davis Index indicate buyers from Turkey, India, Taiwan and other nations had continued asking for lower per-ton prices into the third week in June.

Rising fuel (scrap collection) costs and reduced flows into yards, however, could mean there is a price floor of about $330 to $365 per ton, depending on the destination and freight arrangements.

One U.S.-based trader contacted by Recycling Today says some of his ferrous scrap suppliers are reporting reduced peddler traffic of from 30 to 60 percent compared with two months ago. A one-two punch of rising fuel costs and less money received at the scale “is causing some peddlers to just give up and stay at home,” says the trader.

Although demolition projects continue to bring plate and structural and HMS grades into yards for now, a downturn in ferrous prices is almost always followed by a downturn in demolition activity as property owners and contractors hold off while waiting for a price rebound.

“Overseas buyers have been operating under the notion that there’s plenty of scrap to be had in North America, but that is becoming less true,” says the trader.

A tilt in the supply and demand landscape, along with a new processing cost floor caused by inflation, seems poised to stop the price declines in the ferrous market and maybe even produce a slight rebound in the domestic mill July buying period.

By the last week in June, export buyers were beginning to make slightly higher bids, according to Davis Index. The news service reports buyers in India and Pakistan paying about $10 per ton more for inbound scrap this week compared with the prior one, while prices for shipments to Turkey are “trending flat.”

The company says the acquisition adds a line of standard-size cartridges and bag dust collectors, expanding its ability to immediately provide in-stock solutions and quick shipment.

CECO Environmental Corp. an industrial air quality and fluid handling company based in Dallas, has announced it has completed the acquisition of industrial air quality consultancy and engineering firm, Western Air Ducts Ltd. Somerset, England. The acquisition includes Western Air’s patented air control system Inteliair. Both brands will be immediately folded into CECO's industrial air platform.  

"This is another strategic and accretive acquisition for CECO and expands our industrial air addressable market by more than $150 million," says Todd Gleason, CEO of CECO Environmental. "The acquisition adds a standard product offering to our extensive dust collector portfolio and the Inteliair energy-efficient smart logic controls provide significant opportunity for growth and global product introductions."   

Western Air specializes in dust and fume extraction solutions, providing industrial air consultation, design, manufacturing, installation and aftermarket parts and services. CECO says the acquisition adds a  line of standard-size cartridges and bag dust collectors, expanding its ability to immediately provide in-stock solutions and quick shipment.  

Additionally, Western Air's Inteliair uses smart sensor technology to sense demand, adjust and control airflow and particulate matter and reduce energy costs by 40 percent. Applications include hydrogen extract systems for offshore wind, waste extraction for aerospace composites and dust collection for engineered wood manufacturing.  

"We are excited to welcome Western Air to our organization and we look forward to working with their leadership team to accelerate growth and new product and service offerings,” Gleason says. “This is another important addition to our leading industrial air portfolio as the business adds higher-than-CECO-average margins, 100 percent short-cycle business mix and niche leadership in new geographies.”   

The goal of the legislation is to fund eligible projects that significantly improve access to recycling systems in underserved communities through a hub-and-spoke model for recycling infrastructure development.

The National Waste & Recycling Association (NWRA), Arlington, Virginia, thanks Representatives David McKinley of West Virginia and Mikie Sherrill of New Jersey for introducing the Recycling Infrastructure and Accessibility Act. The bipartisan legislation will focus on improving recycling and composting systems.   

The goal of the legislation is to fund eligible projects that significantly improve access to recycling systems in underserved communities through a hub-and-spoke model for recycling infrastructure development.    

“NWRA fully supports the bipartisan legislation proposed by Representatives McKinley and Sherrill to address the issues of improving rural recycling accessibility,” says NWRA President and CEO Darrell Smith. “This legislative package, along with the bill sponsored by Representatives Neguse, Burchett and Foster, are integral to advancing America’s domestic recycling infrastructure and capabilities at a critical time when supply chain shortages are demonstrating the need for greater self-sufficiency.”   

This comes on the heels of the introduction last week of the Recycling and Composting Accountability Act in the House by Representatives Joe Neguse of Colorado, Tim Burchett of Tennessee and Bill Foster of Illinois.  

The NWRA has been meeting with and providing assistance to House and Senate staff as these bills were being drafted. The Association will continue to actively support these pieces of legislation to ensure that they become law. 

Details of the proposed transaction and a time frame for completing the proposed merger will be announced when the parties execute a definitive agreement.

Renovare Environmental Inc., a circular economy and sustainability technology services provider for the treatment of organic waste based in Chestnut Ridge, New York, has announced it signed a nonbinding letter of intent to merge with Harp Renewables and its affiliate, Harp Electric Engineering, Kentstown, Ireland.  

Details of the proposed transaction and a time frame for completing the proposed merger will be announced when the parties execute a definitive agreement. The parties have entered a period of exclusivity to negotiate the proposed transaction in good faith. Following the definitive agreement, the transaction will require approval by Renovare's shareholders.  

The letter of intent supersedes and replaces all prior oral and/or written discussions or understandings between the Company and Harp. Pursuant to the letter of intent, the Company and Harp each agree that it will not enter any public offering, merger, combination, divestiture, financing, joint venture, sale and/or acquisition agreement. Additionally, the letter of intent provides that if the Company terminates the letter of intent, it will be required to pay Harp a breakup fee in the amount of $850,000. 

Robert Thompson has more than 30 years of metal recycling and steel experience.

Rye, New York-based Sims Metal, a division of Sydney-based Sims Ltd., has appointed Robert Thompson as its global chief commercial officer. Thompson previously held the position of vice president, sales and marketing at Gerdau Long Steel North America, and he brings more than 30 years of commercial and operational metal recycling and steel experience to Sims Metal. He begins his new role July 11.

“Rob’s substantial experience at a global, well-respected organization in both the production and sale of steel and recycled metal makes him uniquely qualified to lead the commercial arm of our metal business division,” says Alistair Field, managing director and chief executive officer at Sims Ltd.

Thompson joined Gerdau North America as vice president and general manager of the Ameristeel Recycling business as part of an acquisition in 2004. He has since held several roles with increasing responsibilities in commercial, operations and logistics in Gerdau’s Metallics and Raw Materials divisions until his most recent position leading sales and marketing for Gerdau’s North American Long Steel business. Thompson and his family also spent several years in Brazil where he had responsibilities spanning Europe, Latin America and North America.

Prior to his tenure at Gerdau, Thompson spent 15 years at metal recycling companies, initially starting as a scale operator, then spending several years as a commercial trade buyer and ferrous products trader.

Sims Metal began its search for a new chief commercial officer after Michael Movsas announced his retirement in January of this year.

“I’ve had the pleasure of doing business with Sims Metal in the past, and I admired their commitment to being a leader and innovator in the metal industry,” says Thompson. “As I have learned more about the business and its strategy in recent weeks, I am more excited to be a part of this organization, which is made up of great people who are aligned and collaborate in their efforts to achieve the company goals, and ultimately the Sims purpose.”

At Sims Metal, Thompson will have global responsibility for shipping and chartering, as well as ferrous and nonferrous material buying and processed material sales. In addition to holding this principal commercial role, he will be an integral member of Sims Ltd.’s executive leadership team and his extensive management experience and perspective will allow him to immediately contribute toward achieving the company’s strategic goals.

Thompson received his Bachelor of Arts in economics from the University of Toronto.