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The four buffalo contractors over estimated the tonnage to begin with. Our structural engineer went through the steel schedule with a fine tooth comb. There was no more then 4,000 tons. They also over valued the steel at $300 per ton when the market was falling, not to mention, when is it tradition to give the entire scrap value back to the owner as a credit. NASDI in my opinion had the best bid because they took into consideration the market conditions and still gave the owner what appears to be around a 50% credit with their bid of around $2.3 million. If I were the Harbor Authority I would try and take the bid bonds of the top 4 companies that won't honor the price.
In july i was getting $525 a ton for p&s cut dump trailer length (20'to28'). This morning i had a quote of $95 for p&s cut five foot.
Plummeting scrap steel prices threatens to put on hold demolition of Memorial Auditorium.
The Buffalo contractor scheduled to start tearing down the Aud later this month is threatening to walk away from the job because tumbling scrap prices have rendered its $1.31 million bid unprofitable.
Several sources familiar with the demolition project said Ontario Specialty Contracting predicated its winning bid on the value of scrap steel it would recover Aud. The bid was put together in late summer as scrap steel prices soared to a record-high $900 per gross ton for the highest quality metal.
Ontario Specialty had expected to recoup more than $2 million from the approximately 5,000 tons of steel beams and other components it expected to recover from the Aud rubble, sources said. But the dramatic collapse of the global scrap steel market over the past six weeks
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