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Upstate expands scrap territory

United States – US scrap processor Upstate Shredding LLC-Ben Weitsman & Son Inc. has unveiled plans to open a new full-service yard operation worth US$ 25 million in the Albany area of New York which will function as both a domestic scrap supplier and a bulk cargo ferrous scrap exporter.

Adam Weitsman, President of the New York-based company, says the 40-acre site is to be established near Port Albany and can be expected to be up and running by May next year. It will handle both ferrous and non-ferrous scrap, treating materials coming from smaller dealers and peddlers as well as from its existing yards throughout New York and Pennsylvania.

Besides loading and shipping roughly three Handymax vessels a month – each with a capacity of 30 000-40 000 tonnes – for deliveries to foreign mills, the new facility will connect to two rail lines to aid participation in the domestic steel market. According to Mr Weitsman, approximately 80% of all the yard’€™s scrap will be exported on a monthly basis.

Upstate’€™s President adds that he has been thinking about launching such an operation ‘€˜for three or four years’€™ but that finding ‘€˜just the right property’€™ proved to be much tougher than he had anticipated. With the company’€™s access to docks limited to those belonging to competing exporters, Mr Weitsman therefore recognised the need for the company to have its own access to the water.

Unlike most traders today, the New York company prefers to sell its material a week or even two weeks earlier at a previously determined price rather than ‘€˜sitting on scrap’€™ until a specific price is published, it is noted.

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