STEEL: Demolition Contractors May Trim Bids If Job Contains Valuable Scrap
Like a discarded antique discovered in your grandfathers attic, scrap steel in old buildings and industrial sites has become so valuable that some contractors say they have been able to bid at or below the cost of their services and still make a profit.
Some contractors have reaped windfalls, or tried to, by bidding at normal levels. In a few instances alert owners have approached contractors and offered to split the scrap steel proceeds while taking advantage of the opportunity to clean up and clear properties. But such arrangements remain rare, contractors say, and complicating factors such as asbestos and the type and condition of the steel can wipe out any profits.