The Price is Right with Metal Recycling
Metal-recycling companies are selling more scrap metal and for record prices, especially to international customers in countries such as China and India, reports the New York Times.
This means that people who collect scrap metal and take it to recycling facilities are getting a bigger cut as well. For example, New York City resident, Bob Rommeney gets more than triple the money he did three years ago for battered cars he takes into A.R.C. Metal Recycling. He told the Times that in the past, he would receive about 50 dollars per wrecked car whereas now he gets about 200 dollars, depending on the weight of the vehicle.
Michael Allocco, the general manager of the A.R.C. recycling plant, said the business is “booming, and it’s still growing.” The number of metal-recycling businesses has grown nearly 20 percent in three years, according to the article.
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