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American Metal Market (AMM) is an online provider of industry news and metal pricing information for the U.S. steel, nonferrous and scrap markets. Products include a daily publication available electronically, live news on the publication's website, a hard-copy magazine and a series of weekly newsletters covering niche markets.
In 1792, the gold/silver price ratio was fixed by law in the United States at 15:1, [11] which meant that one troy ounce of gold was worth 15 troy ounces of silver; a ratio of 15.5:1 was enacted in France in 1803. [12] The average gold/silver price ratio during the 20th century, however, was 47:1. [13]
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In the US, scrap prices are reported in a handful of publications, including American Metal Market, based on confirmed sales as well as reference sites such as Scrap Metal Prices and Auctions. Non-US domiciled publications, such as The Steel Index , also report on the US scrap price, which has become increasingly important to global export markets.
These prices are more an indication than an actual exchange price. Unlike the prices on an exchange, pricing providers tend to give a weekly or bi-weekly price. For each commodity they quote a range (low and high price) which reflect the buying and selling about 9-fold due to China's transition from light to heavy industry and its focus on ...
A scrapyard is a recycling center that buys and sells scrap metal. Scrapyards are effectively a scrap metal brokerage. [1] Scrapyards typically buy any base metal; for example, iron, steel, stainless steel, brass, copper, aluminum, zinc, nickel, and lead would all be found at a modern-day scrapyard. Scrapyards will often buy electronics ...
From 2000 onwards, businesses such as pawnbrokers and jewelers began to experience large increases in scrap gold buying from the public. A boom in this industry saw the gold price jump from $250 to $1,900. This led to an increase in the number of pawnbrokers receiving jewelry trade ins. [5]
There are however legal restrictions to level of cash that can be used within a business transaction to buy a vehicle. The EU sets this at 10,000 euros or currency equivalent as part of its Money Laundering Regulations. In the UK it is no longer possible to purchase scrap cars for cash with the introduction of the Scrap Metal Dealers Act in ...