Metal Exchange Corp, a US nonferrous trader and processor, plans to curtail operations indefinitely at its Metal Recovery Systems facility due to volatile market conditions, the company has said.
Metal Recovery Systems, a St. Louis-based processor of aluminum and copper recycling materials, plans to cease operations in mid-May but will continue production for a few weeks to fulfill the current order backlog. Ben Evans, president of Metal Exchange's trading division said in a statement late Monday that "the market conditions are extremely volatile and we believe this move will help to bring some stability.
The St. Louis-based company's manufacturing director, Scott Bichel, added: "We are currently evaluating investment options to revitalize the business if conditions change."
Metal Exchange's other manufacturing facilities, including Wellsville, Pennsylvania-based aluminum extruder and fabricator Pennex Aluminum and its secondary aluminum smelter Continental Aluminum in New Hudson, Michigan, will continue normal operations, it said. In addition, its Moulton, Alabama, warehouse and its nonferrous trading arm will remain unaffected, it said.
