Beware scrap metal recycling scam – con don’t be a victim

We are a scrap metal recycling expert, but sadly to say most companies don’t know the whole process.

Real world example:

You the seller contacts us asking for a price quote on lets say Hastelloy C which is a nickel alloy.
We gather info such as total weight “10K lbs” Form of metal, size of each piece etc.

Next you contact another company and they offer $0.75 cents more which at 10K lbs is $7500 more so it sounds like
a better deal but they mention that you have to ship material to them or that they will pick up & process the metal
then cut you a check in 10-30 days.

What do you do?

Most people would go with the $7500 more which is understanding, but in 70% # of cases those kind of operations
provide no paper work, receipt etc & that is actually perfectly normal when it comes to the recycling business.

But & this is a big one 70% of the same companies will either downgrade your material on no grounds to do so
yet you are now at their mercy since you willingly sent them the metal. They will now offer you $1.25 less than
the original price & good luck becuase no matter what you are now a fish on a hook.

If you ask for your metal back you will never get it, you cannot report theft either because all it
is is a business deal where 2 parties agreed to something and things went bad. At this point the company
will send you a check and thats that. You just lost $5000 versus the price we would have paid you.

Deals like this happen every day so be aware. Better yet contact us & make it simple

“This example is used from a real event where a employee of a large company contacted us but in his case the metal buyer conned him out of $50,000 after which the seller went on to lose his job.”

Scrap metal buyer – Metal buyer

We are a Scrap metal buyer/Metal buyer we buy all grades & forms of scrap metal including: Nickel alloy; Inconel, Incoloy & Incoloy, Yellow Brass, Stainless Steel 304, 316, 300 & More! Turbine engines & parts, Production scrap sheet, plate, pipe, turnings, sludge & powders. We pay cash at time of negotiation no 30 day net or risk of being downgraded like most companies!
Big prices don’t mean nothing if you only get paid half of your money! We pay cash!

Please visit us at: www.americanscrapmetal.com Our scrap metal buyers will be more than happy to assist you!

We provide service to the following cities but will travel worldwide if neccesary;

Houston, San antonio, Dallas, Austin, Fort worth, El paso, Corpus christi, Laredo, Lubbock, Amarillo, Brownsville, Mcallen, Waco, Abilene, Beaumont, Victoria, San angelo, Odessa, Wichita falls, Temple, Denton, Midland, Killeen, Tx, Texas, Oklahoma city, Tulsa, Muskogee, Ok, Little rock, Fort smith, Jonesboro, North little rock, Pine bluff, Texarkana, Benton, Russellville, Ar, Arkansas, Baton rouge, New orleans, Shreveport, Lafayette, Lake charles, Bossier city, Monroe, Slidell, La, Louisiana, Jackson, Gulfport, Hattiesburg, Biloxi, Meridian, Greenville, Tupelo, Vicksburg, Ms, Mississippi, Kansas city, St. louis, Springfield, Independence, Joplin, Mo, Missouri, Wichita, Kansas city, Topeka, Salina, Ks, Kansas, Birmingham, Montgomery, Mobile, Huntsville, Tuscaloosa, Gadsden, Al, Alabama, Mempis, Nashville, Knoxville, Chattanooga, Clarksville, Jackson, Tn, Tennesse, Atlanta, Augusta, Columbus, Savannah, Athens, Macon, Marietta, Warner robins, Ga, Georgia, Charlotte, Raleigh, Greensboro, Durham, Winston-Salem, NC, North carolina, Columbia, Charleston, North charleston, Rock hill, Mount pleasant, Greenville, SC, South carolina, New york, Buffalo, Rochester, Yonkers, Syracuse, Ny, New york, Los angeles, San diego, San jose, San francisco, Fresno, Sacramento, Oakland, Santa ana, Anaheim, Bakersfield, Fontana, Oceanside, Escondido, California, Ca, Chicago, Aurora, Joliet, Springfield, Peoria, Elgin, Illinois, Il, Phoenix, Tucson, Mesa, Tempe, Arizona, Az, Philadelphia, Pittsburgh, Pa, Pennsylvania, Detroit, Michigan, Mi, Jacksonville, Miami, Tampa, St. petersburg, Orlando, Tallahassee, Clearwater, Florida, Fl, Indianapolis, Indiana, In, Columbus, Cleveland, Cincinnati, Toledo, Ohio, Oh, Baltimore, Maryland, Md, Milwaukee, Madison, Green bay, Wisconsin, Wi, Boston, Worcester, Springfield, Massachusetts, Ma, Seattle, Spokane, Tacoma, Vancouver, Washington, Wa, Washington, District of columbia, Dc, Denver, Colorado springs, Colorado, Co, Louisville, Lexington, Kentucky, Ky, Las vegas, Henderson, Reno, North las vegas, Nevada, Nv, Portland, Oregon, Or, Albuquerque, New mexico, Nm, Virginia beach, Norfolk, Chesapeake, Arlington, Richmond, Virginia, Va, Omaha, Lincoln, Nebraska, Ne, Minneapolis, St. Paul, Minnesota, Mn, Newark, Jersey city, Elizabeth, New jersey, Nj, Boise, Idaho, Id, Des moines, Cedar rapids, Iowa, Ia, Salt lake city, Utah, Ut, Providence, Rhode island, Ri, Sioux falls, South dakota, Sd, Bridgeport, Hartford, New haven, Connecticut, Ct, Manchester, New hampshire, Nh

Contact our scrap metal buyers today for the best scrap metal prices around!

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Gold tops $1,782 intraday, trades higher than platinum

Gold

I suspect gold is going to keep going, I can’t come up with any roadblocks when it comes to gold pushing foward,” said Matt Zeman, head trader and strategist at Kingsview Financial in Chicago. “Volatility is here to stay.”

Gold prices set a record Tuesday, slicing through a $1,750-an-ounce milestone as a selloff in global stock markets drew investors to the metal.

Gold futures for delivery in December added $29.80, or 1.7%, to end at $1,743 an ounce on the Comex division of the NYME.

The contract traded as high as $1,782.50 an ounce, according to FactSet Research, an intraday record for the metal. Gold has gained 23% this year, that makes a 10th straight year for gains, and has risen this week by 5.5%.

“At this rate, we can see $1,800, $1,850 (an ounce) in a matter of weeks,” Zeman said.

Many investors also sought gold on expectations the U.S. Federal Reserve might signal more quantitative easing to try to spark the economy.

The U.S. credit downgrade, coming so close on the heels of the debt-ceiling crisis, left investors searching for a safe haven thus choosing gold, HSBC analyst James Steel wrote in a report to clients, referring to Standard & Poor’s decision to downgrade U.S. debt late last week to AA+ from AAA.

1 cent Penny theft = Felony

A penny saved may be a penny earned, but in the state of Texas, a penny stolen is about to become a felony.

Texas lawmakers passed a bill this session increasing penalties for scrap metal theft, a crime that’s become a growing problem nationwide.

Under current law, it is a state jail felony to steal anything worth less than $20,000 if the item is at minimum of 50% copper.

The new bill taking effect Sept. 1 strikes out the 50 percent threshold, meaning that theft of any item with any amount of copper would be considered a felony. All pennies consist of at least 2.5 percent copper, according to the U.S. Mint.

Shannon Edmonds, director of governmental relations for the Texas District & County Attorneys Association, has jokingly pointed out the new “penny punishment” at meetings he has been holding around the state to educate prosecutors about laws approved in this year’s legislative sessions.

Edmonds said he doesn’t expect any prosecutor to charge someone with a state jail felony for stealing a penny. But he added that it shows how lawmakers often change current law without fully realizing the consequences.

“In their zeal to get after some of these scrap metal scavengers, they really swung the pendulum pretty far to the other side,” Edmonds said.

Tx scrap metal recycling law is getting strict!

Comex Copper Rebounds

Copper prices edged towards the $4 mark as modest gains in equity markets encouraged traders to look at other risky assets such as commodities.

The most actively traded contract, for September delivery, was recently 4.05 cents, or 1%, higher at $4.0020 a pound on the Comex division of the New York Mercantile Exchange.

Copper prices, which ended this Monday trade at a 2 month low, are primed for a “we can expect a substantial rebound,” said Edward Meir, base metals analyst with MF Global.

“Markets are quite oversold, and likely overshot the mark yesterday in terms of the news that triggered the sell-off in the first place,” Meir said.

Investors rushed away from stocks and commodities after S&P cut the U.S. Treasury’s credit rating down one notch to double-A-plus. Market participants fear the lower score will raise the cost of borrowing for the U.S. government and slow economic growth.

Copper’s smaller price tag is likely to attract attention from international buyers, including top consumer China.

Alcoa stock down over aluminum price concerns

In early trading on the New York Stock Exchange, the company’s stock was down 10 cents at $15.82, while aluminum fell to $2,451 per tonne in London, its lowest price since late January.

UBS cut Alcoa’s price target to $16.25 from $16.75 and maintained a “neutral” investment rating on the aluminum producer, which kicked off the earnings season on Monday with a profit that matched Wall Street estimates. Its revenue beat expectations, largely on higher metal prices and volumes.

Analyst David Lipschitz, of Credit Agricole Securities, said his third-quarter estimate of 24 cents per share was lower than Alcoa’s second-quarter 32 cents-per-share profit “as we expect prices for aluminum to be lower than in the second quarter.

Full story: reuters

Crime gangs move in on scrap metal goldmine as prices soar

Organised crime gangs are thought to be behind a huge rise in metal thefts across Greater Manchester. There have been 3,372 recorded incidents over the last six months – compared to 1,482 in the twelve months from April 2008.

It means the region has one of the highest rates of metal thefts in the country. Thieves have targeted church roofs, schools, homes, railways, phone lines, chimney stacks, grids, manhole covers and memorial plaques.

They have stolen lead, copper, iron, steel, bronze and aluminium. The scrap value of these metals have rocketed over the last few years because of an insatiable demand from China and India. Full story here