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Mar 10, 2009
Drapers defiant in turbulent market
10 March 09
Peter Draper, director of Albert Draper and Sons Ltd. has declared that his company is still going strong despite the scrap metal market going through one of the most turbulent periods on record.
Scrap metal prices plummeted just before Christmas and, although they have risen somewhat, they are still far from their high last May. Then they were at £300 per ton, before plunging to a mere £10 a ton in November. They have now levelled out at around £150, a major factor in the slowdown being the fall in demand from China and other overseas markets.
Yet scrap remains an important commodity in a global marketplace. The future remains somewhat volatile, but Peter Draper believes Drapers to be in a very competitive position:
“Drapers has been around for 87 years and I’m sure that know-how, coupled with our 21st Century facilities will be hugely beneficial.”
He continued…
“We are still doing well, but we’re not planning on getting complacent. We are always willing to invest in ways to stay ahead, and we are currently looking into how we can emerge from the recession in an even stronger position. Watch this space!”
Drapers is a family owned firm in its 87th year which has recently invested over half a million pounds into new equipment and site infrastructure at their two-acre site in Raven St, Hull as part of a long term strategy to create a recycling centre of excellence. Currently under the third generation of owner managers, the company has a UK wide reputation to recycle waste of any size from almost any industry. In the past this included steam trains, aeroplanes, trawlers and even an old Cold War submarine. Much of the material is exported to many different countries across Europe, and as far afield as China.
