Scrap Industry News

FUTURE IS ISRI’S EMPHASIS

Sam Hummelstein, board chairman of the Institute of Scrap Recycling Industries Inc. (ISRI), warned attendees at the group’s annual convention, “if you do not think about the future, you cannot have one.”

Both future and current conditions were topics of discussion at the trade association’s convention, which took place in San Antonio March 21-24 and drew more than 2,300 people and 145 exhibiting companies.

While the futuristic theme of the event featured a disembodied voice reminiscent of “HAL,” the computer from 2001: A Space Odyssey, attendees were also brought back to the 1980s when they had a chance to hear from former Margaret Thatcher, the former prime minister of the United Kingdom.

A variety of sessions allowed attendees to hear from scrap consumers and processors, several of whom offered forecasts for the commodities in which they deal. Other sessions focused on topics ranging from business valuation and insurance to trading on the Internet and avoiding anti-trust pitfalls.

The 2001 annual convention was also the last for long-time ISRI staff member Evelyn Haught, who served for 12 years with the Washington-based association as director of communications.

ISRI members will gather again Oct. 17-19 in suburban Chicago for the Commodities Roundtables. The 2002 annual convention is scheduled for March 10-14 at the Bellagio hotel in Las Vegas.

Power Problems Persist

Higher costs for electricity in the Northwest United States could result in sizable long-term shutdowns of aluminum smelters in the area.

The Bonneville Power Administration (BPA), Portland, Ore., is forecasting wholesale rates for electricity to climb by 250% or more, beginning Oct. 1, 2001. The BPA is a not-for-profit federal agency.

Acknowledging the possibility of soaring electricity costs, Steve Wright, acting BPA administrator, notes it is likely that most aluminum plants will find it uneconomical to resume operations for one to two years, until market prices for electricity stabilize.

Wright urged aluminum companies to stay offline for an extended time so that the BPA does not have to buy power to cover the possibility that these smelters could resume operations in October. Wright said that the goal is not to eliminate the aluminum industry in the Northwest, but rather for the aluminum industry to come back in operation once power rates stabilize.