The global financial crisis is putting the heat on scrap metal dealers around New Zealand.
Metal prices have gone from all time highs to all time lows in just a few months, and it is the workforce paying the price.
Dealers are now shutting up shop or downsizing - even the big dealers like Macaulay Metals which has 100 staff across five North Island yards.
"We only made a small adjustment of five staff," says Macaulay Metals' Jeff Harris.
There used to be unprecedented demand for materials from China's booming construction industry but that bubble has now burst. The international price for steel has taken a pounding, while the price of copper has more than halved.
Industry leaders doubt there will ever be a return to the premium prices seen earlier in the year and say scrap just has to adapt.
"They are pruning unnecessary expenses, they are cleaning and producing quality products and hopefully we will not see too many more layoffs," says Trevor Munro of the Scrap Metal Recycling Association of New Zealand.
However, there could still be tough times ahead for the men of steel.
