This is in Vancouver, BC, and happened 2 weeks ago. It was great business just a few weeks ago, but something occured on the global scrap markets in a real hurry and half of the scrap dealers shut down operations and the ones that are still open have done huge layoffs and are taking the scrap for next to nothing. The same thing also happened to us on Monday with our cardboard recycler. We were getting over $100 per tonne for our cardboard and we were told but our main recycler (to whom we ship over 200 tonnes per year) that they may be forced to stop accepting cardboard in the next couple of weeks due to lack of demand for the recycled product.

Hopefully this only lasts for a short while, but it certainly does punctuate how quickly markets have decayed. (not to mention it is costing me a lot of money in lost revenue!)