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Scrap Metal Operations Booming In The Americas
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Regional Scrap Metal Operation Booming:
Bahama Journal -
Nassau, Bahamas:



A Bahamas operation is one of four scrap yards in the region that have together produced more than half a million metric tons of scrap metal, worth about $235 million to Nettel Holdings, the company that owns the scrap yards.

Nettel said in an investor report issued on Friday that it had recently installed ramps, docks, and heavy equipment at a fifth regional yard to allow the processing and loading of 14 containers simultaneously (approximately 308 metric tons).

"In order to catch up with current demand we have also recently started working 3 shifts (approximately 10-17 employees per shift)," Nettel said.

"This would give us the ability to process and load up to 22 containers per day (approximately 484 metric ton). The current market price for HMS1 and 2 scrap metals is between $420 - $470 per metric ton."

"Our Bahamas, Belize, Dominican Republic, and Costa Rica yards will also be large producers. Between those yards, so far we have now secured over 500,000 metric ton," the company communiqué continued.

"We will be securing more in the near future. We have received firm commitments from several large buyers to purchase all the materials we currently have available."

In fact, Nettel reported that buyer demand for the scrap metal is now over 200K metric ton per month, and that the company has also been working with several shipping companies on chartering vessels that have the capability to deliver 20k to 30k metric tons at a time.

July 14, 2008

July 14, 2008 | 2:26 PM Comments  0 comments

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