(AMM) Keep tight lips, Chrysler bundle purchasers told

PHILADELPHIA 29 May 2008 23:54

Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource Corp. has sent notices to potential buyers of Chrysler LLC factory bundles outlining changes in how the automaker's bundles will be sold each month.

All scrap buyers at steel mills and their brokers will be required to sign a nondisclosure pledge saying they won't tell other ferrous scrap buyers and publications like AMM whether they bought Chrysler's bundles and what they paid for them.

The new auto bundles selling scheme will allow mills and brokers to buy the auto bundles on a 30-day, two-, three- or seven-month advanced basis. In order to do that, however, they will be required to submit bids based on AMM's No. 1 factory bundles price for Chicago on the 10th effective day of each month.

OmniSource sent...

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(AMM) Keep tight lips, Chrysler bundle purchasers told

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