Because of the financial crisis, which has spread over the world in the past month (the Dutch government has bought one bank into state owenership, and did capital investments in another two) the scrap prices are next to nothing:
Before summer i got 28 eurocents per kg. Right now the price is 2 or 3 cents, but most scrapyards dont accept new material, because they have heaps of scrap stacked in their yard, because they were hoping that the prices would get back soon, after it dropped to 12 eurocent last month.
Several scrapyards are bankrupt because they have their liquid capital tied up in scrap that aint worth a sh*t right now....
How is the situation in America ? do they take scrap at all ? Do the prices for new steel drop ?