Non Ferrous metal recycling

Copper scrap spreads widen amid the summer doldrums

shadowlu — Wed, 01 Jul 2009 08:23:25 GMT

The discount for copper scrap has widened in recent weeks as the copper futures price remains at elevated levels and business in recycled metal slows to a crawl amid the seasonal summer slowdown.

Yet, dealers expect orders to perk up again in another month or two due to a resurgence of demand in China and an easing of logistical import bottlenecks in the world's top copper consuming country.

"I think the old adage 'sell in May and go away' is still very true, maybe not for the terminal market prices because they have risen, but for demand," said Matthew Heitmeier, director of nonferrous metal marketing with Louis Padnos Iron & Metal Co.

"Chinese demand has waned due to some congestion issues at the ports, but whether you are China, or North America, or Europe, we are into the summer doldrums season," he said.

Congestion has delayed the flow of material into China's Guangdong province, a major destination for international copper scrap, as all incoming container shipments line up for tighter customs inspections. [ID:nHKG257736]

"The problems with the container inspections have been going on for about six weeks, maybe more, and that's holding up business ... even on this side," said Marc Kaplan, president of Mews Metals Trading in New Jersey.

"I have material sold that is awaiting inspection, and I'm being told that I am still a week off," he said.

As a result of the customs crackdown, inbound shipments of copper scrap into China fell by 17 percent in May, and forced the price differentials to COMEX copper to widen due to that lack of business, dealers said.

Spreads for No. 1 Bare Bright copper scrap, regarded as being the cleanest or highest grade of scrap, have widened to a 2- to 4-cent discount to COMEX July copper from a 2-cent discount to a 2-cent premium in March-April.

No. 2 copper scrap spreads were running at 19 to 17 cents under, compared with an earlier discount of 16 to 14 cents.

No. 1 Burnt was pegged at a 7- to 5-cent discount from a 6- to 4-cent discount.

Sterling Smith, an analyst for Country Hedging Inc in Inner Grove Heights, Minnesota, believed congestion will remain, however.

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Steel production in Tangshan picks up

shadowlu — Mon, 06 Jul 2009 08:04:47 GMT

21st Century Business Herald reported that seel mills in Hebei Tangshan, the biggest steel production city in China rush to production and postpone overhauls in view of the returning steel market and rising steel prices.

Annual steel production capacity in local stays above 50 million tonnes or makes up one tenth of China's total capacity. And local mills mainly medium and small sized ones are mainly engage in rebar and wire rod production.

Though flexible in operation, these smaller mills also bear the brunt of the global financial crisis. Mills idling or cutting production takes up two thirds of total mills in local in the Q1 of this year. However, the recovering steel market since April brings an opportunity for these mills. Stimulated by the CNY 4 trillion stimulus packages, demand for construction materials picks up like rebar and wire rod the major steel products produced in local.

China scrap stainless steel market on 23th, Jun.

shadowlu — Tue, 23 Jun 2009 08:53:10 GMT

WorldScrap- LME nickel slumped $600 and ended at $14,400 yesterday, although the warehouse stocks reduced 24 tons to 108,084 tons. As for the spot market, quotations from Changjiang and Shanghai tumbled 1,000RMB and 1,500RMB respectively. In domestic scrap market, stainless steel slipped down 100RMB/T, dragged down by falling price of nickel. The trade was dimmed and most of suppliers watched and waited in the sideline, expecting for a rise in the later market. The supply was sufficient and mills made purchases on demand.

information from WorldScrap.com

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Copper jumps on China's big rate cut

shadowlu — Thu, 27 Nov 2008 07:12:31 GMT

COPPER rose almost 4 per cent to as investors bet a rate cut in China, the world's top consumer of the industrial metal, could help boost growth and demand.

However, metals trimmed some of their gains as the US dollar rose against the euro later in the day on renewed risk aversion and European shares fell along with Wall Street, dragged down by weak US data that fanned recession fears.

"The dollar has strengthened quite a lot, that's taking a little bit off the prices," analyst Michael Widmer at BNP Paribas said.

Copper for three-months delivery on the London Metal Exchange rose as high as $US3840.50 an ounce, before easing to $US3755 per tonne at the close, still up $US60 from yesterday.

"China is such a massive consumer of metals, much more so than the United States and Europe," Citi analyst David Thurtell said. "If the US or Europe cuts rates it's positive but not nearly so significant as these Chinese cuts for base metals."

China cut its benchmark rates for one-year loans and deposits by 108 basis points. The cut in the lending rate was the largest since October 1997 and that in the deposit rate was the biggest since June 1999.

Industrial metals were also boosted by short covering as investors who had bet on lower prices bought back their positions.

"We may see a further bit of short covering ahead of Thanksgiving and the month end," Leon Westgate, an analyst at Standard Bank, said.

Output cuts by some producers in response to lower metal prices may also be starting to make an impact. Copper inventories in LME warehouses fell 875 tonnes to 286,350 tonnes, the first decrease since October 20.

"This is the shape of things to come as producer cutbacks take effect," a trader on the LME floor said.

But without demand, the supply cuts still may not be enough to support prices. The macroeconomic data from the world's biggest economy, the United States, continued to look grim.

US consumers cut spending during October at the steepest rate in more than seven years and orders for costly manufactured goods plummeted, according to Commerce Department reports that implied a steep recessionary downturn was at hand.

Some other metals were boosted by continuous supply cuts.

The world's biggest zinc producer Nyrstar said it will cut output by 25,000 tonnes this year and 130,000 tonnes in the first half of 2009 as a result of falling zinc prices.

The metal, used to galvanise steel, jumped 5.1 per cent to a high of $US1310, before ending the day at $US1260 per tonne from $US1246 at the close yesterday. Prices have dropped more than 40 per cent this year.

Australian miner Straits Resources will scale back next year's production target at its Tritton copper mine to 2200 tonnes a month.

An official of PT International Nickel Indonesia one of the world's top nickel producers, said the firm may cut output 20 per cent next year.

Nickel was at $US10,600 from $US10,500.

Hydro Aluminium, the German unit of Norwegian group Norsk

Hydro, is considering production cuts, while Montenegro's sole aluminium plant KAP will cut its output by half in response to falling metal prices and high energy costs.

Aluminium closed at $US1800 a tonne from $US1810, lead was at $US1186 from $US1190, while tin slightly rose to $US12,950 compared with $US12,900/12,925.

http://www.worldscrap.com/modules/news/article.php?aid=9458

Chinese October crude steel output dropped by 17% YoY

shadowlu — Wed, 26 Nov 2008 05:53:21 GMT

According to latest figures from National Bureau of Statistics of China, China's crude steel production for October 2008 dropped by 17% YoY to 35.9 million tonnes. Crude steel output for the first 10 months of 2008, however, totaled 427.29 million tonnes, up by 3.9% YoY.

Steel products output for October 2008 reached 42.93 million tonnes, down by 12.4% YoY. Steel products output over January to October 2008 totaled 487.91 million tonnes, up by 5.9% YoY.

China also produced 34.13 million tonnes of pig iron in October 2008, down by 16.8% YoY. Pig iron production in the 10 month period totaled 399.48 million tonnes, up by 2.5% YoY.

In October 2008, China produced 67.85 million tonnes of iron ore, up by 12.5% YoY. The country's total iron ore output for January to October 2008 period was 654.18 million tonnes, up by 18.8% YoY.

Meanwhile, China produced 730,300 units of automobiles in October 2008, down by 0.7% YoY. China produced 8.22 million units of automobiles in January to October 2008 period, up by 12.4% YoY.

http://www.worldscrap.com/modules/news/article.php?aid=9445

Why Chinese scrap metal market are so sluggish?

shadowlu — Wed, 15 Oct 2008 06:02:48 GMT

As all of us konws, scrap metal market in China has been in dullness these days. Why it is been like this?
As a overseas supports, do you still have interest in China market?

Industrial metals tumble on financial havoc

shadowlu — Tue, 16 Sep 2008 09:19:20 GMT

Industrial metals were hammered on Monday as investors dumped positions to seek refuge in safer assets after Lehman Brothers filed for bankruptcy.

Aluminium sank more than three percent to its lowest since end-January, copper neared its eigh-month low while zinc plummeted almost 10 percent at one point. Nickel fell to its lowest in more than a month. Copper for delivery in three months on the London Metal Exchange was at $6,820 per tonne in the open outcry trade, down $302 from Friday’s close of $7,122 per tonne.

Metals markets were already under pressure after copper and aluminium touched record highs earlier this year. Aluminium lost $93 to $2,572 per tonne while nickel fell to $18,000/18,005 per tonne from $19,250 on Friday. Tin slipped to $18,500 per tonne from $19,450 while lead shed $130 to $1,810 and zinc slipped $155 to $1,730.

http://www.worldscrap.com/modules/news/article.php?aid=8698

New Ohio law aims to slow down scrap metal thefts

shadowlu — Fri, 12 Sep 2008 08:44:31 GMT

Police in Ohio are about to get help in trying to crackdown on scrap metal thieves who steal aluminum siding off houses and copper wiring from basements.

Scrap metal sellers will be required to show a photo ID beginning Thursday and must prove that they own items such as guard rails and beer kegs. State lawmakers set the requirements to slow a wave of metal thefts brought on by climbing metal prices.

"We're hoping its going to clean up the industry," said Ted Altfeld, president of Bluestar Metal Recycling in Elyria. "If everybody is playing by the same rules, I feel a lot better."

Thieves no longer are content to steal metal pipes and radiators out of vacant homes. They've swiped railroad tracks in southwest Ohio, an air conditioner unit from atop a police union hall in Toledo and catalytic converters from cars parked in downtown Cincinnati.

A year ago, a northeast Ohio man was electrocuted while trying to steal copper from a power substation.

No one expects that new state law will completely stop the thefts.

But it will give police a place to turn for information; scrap yards will be required to keep a log of who brings in metal to sell. And it will create statewide standards, stopping thieves from taking metal into towns where there are no rules.

Many scrap yards already required a photo ID.

Altfeld said his employees watch closely what people bring and will alert police if they're suspicious.

"We've had a number of people taken away in handcuffs from here," Altfeld said.

How well the law works will depend on whether it is enforced across the state, said Josh Joseph, vice president of Muskingum Iron and Metal in Zanesville.

The problem is that scrap metal is easy to move.

"The criminals that are stealing this are smart enough to know where they get rid of the metal," Joseph said.

Dayton has required scrap yards to keep detailed records about the customers they buy from since 2006. The information has been a tremendous help, said detective Jamie Bullens, who investigates scrap metal crimes.

Scrap dealers work closely with police and let them know when they hear about operators willing to buy stolen items, Bullens said.

The state law is "going to give law enforcement agencies a little bit bigger bite," he said.

http://www.worldscrap.com/modules/news/article.php?aid=8688

Global steel market will grow - Mr LN Mittal

shadowlu — Wed, 10 Sep 2008 09:25:10 GMT

Mr LN Mittal CEO and chairman of ArcelorMittal, who received the Malcolm S Forbes Lifetime Achievement Award, believes that despite the slowdown, the global steel market will continue to grow at 3% to 5% per annum.

Mr Mittal at the Forbes Global CEO Conference gala dinner in Singapore said that “The demand in China will make up for the slack in growth in the US, Europe and Japan. China makes up one third of the world demand. There will be 221 cities by 2025 and they will need 40,000 to 50,000 skyscrapers.”

He said that “All these will be made of steel and it gives me confidence that the demand will grow albeit not at double digits.”

He added that demand from India would also come from the small to medium industries.

http://www.worldscrap.com/modules/news/article.php?aid=8657

China Aluminum, Alumina Output Cut on Costs, Prices, Group Says

shadowlu — Tue, 09 Sep 2008 09:18:39 GMT

China's top 20 aluminum smelters, the largest in the world, have cut production by more than 350,000 metric tons on an annual basis as part of a July agreement to reduce energy consumption and boost prices, China's Nonferrous Metals Industry Association said.

The companies took production offline between July 10 and Aug. 10 as smelting became increasingly unprofitable because of higher costs, Wen Xianjun, vice chairman of the association, said in an interview. The reduction is equivalent to roughly 2.8 percent of the nation's production last year of 12.6 million tons, according to Bloomberg calculations.

Aluminum Corp. of China Ltd. and 19 of its peers signed an accord in July to reduce production by as much as 10 percent until the end of the year because of power shortages. Aluminum prices have tumbled 20 percent from a July record of $3,380.15 a ton on the London Metal Exchange because a spreading global economic slowdown may crimp demand for industrial commodities.

"The industry will face a tougher situation in coming months," Wen said. Smelters such as Qingtongxia Aluminum Group "are beginning to become unprofitable because of rising costs," Wen said.

Alumina production capacity has also been reduced by 2 million to 3 million tons because of overcapacity and falling prices, Lang Dazhan, deputy head of the association's aluminum division, said in a separate interview today. Alumina is a raw material that is smelted into aluminum.

Prices for aluminum in China, the world's largest producer, have dropped below the output costs of many smelters, which may force more production cuts in winter as smelters have to switch to more expensive coal-fired power from hydro-electricity, JPMorgan Chase & Co. said Sept. 3.

Aluminum Corp. of China's Shanxi venture, Shanxi Huaze Aluminum & Power Co., has closed 80 pots or 30 percent of the company's 280,000 ton capacity and Qingtongxia Aluminum Group hasn't restarted smelters that were halted for maintenance, Lang said.

Calls to Aluminum Corp., also known as Chalco, and Qingtongxia were not immediately answered.

Chalco's chairman Xiao Yaqing last week said prices face "downward" pressure in the second half because of oversupply and slowing demand growth.

http://www.worldscrap.com/modules/news/article.php?aid=8639

Iron ore spot prices to slide in October

shadowlu — Fri, 05 Sep 2008 09:14:48 GMT

China Securities Journal reported that spot iron ore price might plunge in October following steel output cutback and domestic ore production surge. In fact, imported ore stockpiles at Chinese seaports have stayed above 60 million tonnes for over five straight months and the market price has already shown sign of softening in recent days.

Mr Yang Siming GM of Nanjing Iron & Steel United Co at a recent conference in Xiamen said that iron ore and coke prices are sky high. Coke price has already retreated recently, but iron ore price has yet to see remarkable downward corrections. Steel mills are to step up output cutback in September which would give a heavy blow to spot ore market in October.

Mr Liu Zhimei senior official of CCCMC said ore stockpiles at seaports has hit a record high at 67.55 million tonnes in August however; the steep price has contributed to thin trade and slow off take at the ports.

Domestic traders are in no rush to strike deals at the moment, while the buyers are mostly sitting on the fence. Currently, slipping freight rates has weighed on domestic spot ore price.

http://www.worldscrap.com/modules/news/article.php?aid=8603

Non-ferrous Mirror: Volatility keeping us alert

shadowlu — Thu, 04 Sep 2008 09:19:57 GMT

The summer months are typically the slowest of the year for the non-ferrous business, and while there was some degree of a downward trend in demand from many parts of the world, we certainly had the markets' volatility to keep us awake. Many claim the commodities bubble has burst; others maintain that we still haven't seen the highs in some of the metals in which we deal. And as usual, everyone has his or her own reasons for establishing an opinion. Chief among them, as is often the case, are the economic dynamics of the day and the oft-held belief that fundamentals eventually establish market value.

As we approach our Autumn Roundtables in Düsseldorf in October, thoughts of the economic situation in the so-called "mature" nations of the world will still be at the forefront. To this end, we're planning a program that will focus on the economy's impact on non-ferrous markets and how it is affecting demand for and pricing of our scrap. We believe that this subject is of major concern to our members, and we look forward to hearing what our speakers have to say, and of course to your reactions as well.

http://www.worldscrap.com/modules/news/article.php?aid=8591

Chinese domestic iron ore prices to face downward pressure

shadowlu — Mon, 01 Sep 2008 08:58:51 GMT

It is reported that steel market maintains modest downswings in recent days and steelmakers suffer greater pressure from fund and cost. Most steelmakers beat down purchase prices for ore fines and seldom take mass purchasing.

On the other hand, given few transactions, miners are not so confident in future market. Though supply and demand sides are still in stalemate, miners are increasingly likely to compromise, in view of decreasing purchase prices and still huge profits at current prices.

Steelmakers will face bitterer situation in the coming days and iron ore fine demand may slump. Due to weak steel demand, steel traders report difficult sales and huge stocks, which press steelmakers. Against such a backdrop, most steelmakers in Tangshan will gradually step into production suspension before mid Sep. large amounts of steel stocks indicate even if steel market turns better demand for iron ore will not revive in a short term.

Besides, both spot price and futures price have dropped dramatically owing to shrinking demand. Price for imported iron ore is at least CNY 150 per tonne lower than that for home one, hence sliding imported ore price severely impacts domestic ore price. In the meanwhile imported iron ore supply keeps sufficient. As a result, even steelmakers expand purchasing, they will seek imported resources. This will further embarrass domestic ore and home ore price can barely remain at current level. Moreover, continuous price beats and dull demand have weakened miners' confidence. Miners may fear their profits will decrease as prices nose down. Some are anxious to undersell resources to cash out.

http://www.worldscrap.com/modules/news/article.php?aid=8534

Aluminium Producers Raise Alarm over Fake Products

shadowlu — Fri, 29 Aug 2008 08:42:44 GMT

Association of Primary Aluminium Producers of Nigeria has warned property owners not to be carried away by fancy roofing sheets, because they might be fake.
They spoke in Abuja, yesterday evening, when members of the body, comprising notable names like First Aluminium Products, Tower Aluminium and Nigerlex, paid a visit to Minister of State for Mines and Steel Development, Alhaji Ahmed Gusau.
Alleging the dumping of cheap and substandard products from India, China and other Asian countries, because of the tariff structure, leader of the Association, and Managing Director of Nigerlex, Walter Fetzer, said the genuine indigenous aluminium producers were being asphyxiated out of business.
Fetzer, who likened the situation of the 15-member association to that of the textile industry, said should they be pushed out of business, about 25,000 workers made up of 5,800 direct employees, and 18,000 indirect ones, would be forced to join the labour market.
He said to make matters worse, most contractors use fake letterheads of genuine aluminium roofing sheets manufacturers, quote their prices, but end up supplying very thin roofing sheets that stand the risk of being blown off at the slightest windstorm.
"Contractors give quotations from major aluminium companies like us, use our letterheads but give you substandard roofing sheets. We have been confronted with situations like this and we have been able to prove that they did not emanate from us. We are working with Standards Organisation of Nigeria(SON) on this. Our immediate threat is that we are being wiped out," he said.
The group noted that Aluminium Smelter Company of Nigeria, (ALSCON), at Ikot Abasi, which should have supplied genuine producers with ingots, export all of their produce, at the detriment of local rolling mills that have to import the raw materials at cut-throat prices.
They, therefore, asked to be granted the same concessions that the steel industry enjoys.
"ALSCON is our future, but it exports its products 100 per cent," he said, and asked the minister to prevail oo it to consider feeding the home market before exporting.
Gusau assured them that government would do something about their plight, saying: "we have the duty to protect you."
He announced that a regulation was being put in place and that when the draft was ready, the aluminium manufacturers would be asked to make their input. Gusau lamented that Nigeria imports 800 metric tonnes of aluminium flat sheets per annum.

http://www.worldscrap.com/modules/news/article.php?aid=8512

Aluminum prices up 70% in KSA

shadowlu — Wed, 27 Aug 2008 08:49:25 GMT

The price of aluminum in the Kingdom has reached SR11,962 ($3,190) per ton ?an increase of 70 percent ?due to fluctuations in demand and supply, dealers said.

Khaled Al-Bilbeesi, director of marketing at the National Aluminum Manufacturing Company (NAMC), said the price of aluminum has hardly been affected by price fluctuations in the past 10 years.

"It is only during the last two years, specifically the past year, that prices have witnessed a remarkable rise of more than 70 percent taking the price of a ton to $3,190," he added.

Al-Bilbeesi attributed the increase to fluctuations in demand and supply, and speculations in the international markets. He added that the increase is not in the interest of companies and that the Saudi market is still in a better position than neighboring countries.

He added that prices had come down to $2,819 three months ago before rising to their current level. He, however, did not expect prices to reach $4,000 in any case.

According to Al-Bilbeesi, the increase has not affected demand, which continues to grow, especially in the summer. "The selling season starts at the beginning of the year, continues until August, comes down between Ramadan and Dhul Hijjah, but never reaches complete stagnation," he said.

He added that he does not believe aluminum would be replaced with other alternative substances such as PVC "because Saudis prefer aluminum."

Al-Bilbeesi said aluminum constituted between 8 to 10 percent of each construction project. He described the metal to be resistant to difficult weather conditions, lightweight, not affected by humidity or high heat, durable and long lasting. "It is being used widely in the fade of glass buildings in the Kingdom," he added.

http://www.worldscrap.com/modules/news/article.php?aid=8481

Looking for name of Israeli-backed Swiss scrap company

RichardF — Wed, 25 Jun 2008 15:26:16 GMT

Hi, would anyone be able to help me locate a scrap company please? They are apparently Israeli-backed and operate out of Switzerland.

Thanks for your help,

Richard