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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (3728)	1/8/1998 3:00:00 PM
From: stephen wall	Read Replies (1) \| Respond to of 7006

Jim, From the nonferrous side, which has been a worry: newsteel.com Copper prices have recovered somewhat from last year's collapse because of the Sumitomo trading scandal. The average Comex price for copper in the quarter was $1.02 per pound, compared with 91 cents in the year-ago quarter. "Worldwide copper consumption is running at a higher-than-expected 4.2-percent growth rate for an annualized total of 15.4 million tons," Prudential Securities says. "Demand for copper as a result of strong economic growth in the U.S., Europe, and many developing countries is expected to push the copper market back into a supply deficit in 1998," says Richard de J. Osborne, Asarco's chairman. "We expect that the fundamentals for copper will continue to be favorable." Also from same article: Nucor earned $79.98 million in the quarter, up from $57.89 million in the same period last year. Revenues increased to $1.1 billion from $937 million. Preoperating and startup costs, including costs for a new structurals mill in Berkeley, S.C., and a new cold mill in Hickman, Ark., were $12.3 million in the quarter. For the first nine months of 1997, Nucor shipped 7.3 million tons of steel, compared with 6.3 million tons a year ago. stephen

To: James Strauss who wrote (3728)	1/8/1998 3:24:00 PM
From: stephen wall	Read Replies (2) \| Respond to of 7006

Jim, What I liked in this article was this: The EPA decision represents a major victory for the scrap-metal-recycling industry in the U.S., a victory that could influence foreign governments to deregulate certain recycled materials. This is particularly relevant to the European Union (EU), which has been moving toward a trade ban with certain developing countries over the issue of recycled scrap metals. The proposed ban focuses on hazardous materials, but based on material classification, even some scrap metals could be affected. Consider Recycling Industries,SC in Georgetown, slap dab on the Intracoastal Waterway and a straight shot to Europe. Consider also Mindis in Atlanta which is about 200 miles from the Georgetown, Charleston area. If prices deflate in the southeast theres always Europe. Refer back to the other article I posted on the East Coast - West Coast scrappers and note how much cheaper it is to transport by sea than by rail. I'm speculating like crazy, but this appears to me to be a possible hedge against domestic prices. I'm not even going to begin to speculate about this crazy triumvarate I have swimming around in my head concerning Nucor, David Joseph, and Recy. stephen