11/3/2008 Scrap metal prices plummet
PublicOpinionOnline.com

The recent drop in the price of metal has had an impact on recycling companies, people who sold it, and the thieves who stole it.

"The economy is what it is," said Gina Myers, owner of Beecher's Auto Salvage and Sales Inc., Fayetteville. "The price for metal has changed so much, it's not worth stealing. And the thieves know this."

Going rate for steel is now $2 per 100 pounds, which is down from $10 per 100 pounds two months ago, according to Dave Cauffman, owner of American Recycling Services, Waynesboro.

"People were stealing catalytic converters when they could get up to $135 for them," said Myers. "Now the price has gone down, you don't hear about the stealing. It's not even worth the gas."

Cauffman said people are surprised by the drop in the price for steel and how it occurred so suddenly.

"Stuff is still coming in but not as much as it was before," Cauffman said. "People are surprised by how quickly the price dropped."

Cauffman said he has seen prices drop in the past "but not this sudden." He said the reason for the drop is due to steel "not going overseas."

Myers noticed a drop in business over a month ago. People are not bringing it in, she said.

"We are a community-based business and we take waste oil, old appliances and any type scrap metal," she said.

Myers said people are hurting. At one time, when the price of metal was up, people in need of money began competing with businesses that collected scrap metal. These people gathered up the metal and brought it in, just like the people who did it as a business, Myers said.

This competition caused some of the businesses to hurt. According to Myers, she used to see people turning to scrap metal when they lost a job. They did it to make ends meet.

With the drop in the price of metal, people are no longer seeing it as a way to survive.

"I hope things get better after the election," she said.

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Roscoe Barnes III can be reached at 262-4762 or rbarnes@publicopinionnews.com.

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