Scrap Metal Prices

CME METAL Prices  

SHFE METAL Prices

Scrap Metal Prices & Recycling News
olympus-ims.com
oxford-instruments.com
Barclays: PGMs pressured by weak data from China
Lead poisoning rampant in India battery recycling
Central bank policies likely to remain supportive for gold: BNP Paribas

Barclays: PGMs pressured by weak data from China

By (ScrapMonster Author)
March 22, 2012 12:56:05 PM
Platinum group metals have been pressured by a drop in a Chinese manufacturing Purchasing Managers Index and weak trade data from the country, said Barclays Capital in a research note.

NEW YORK (Scrap Monster):  Platinum group metals have been pressured by a drop in a Chinese manufacturing Purchasing Managers Index and weak trade data from the country, said Barclays Capital in a research note.

The preliminary HSBC Chinese PMI for March was 48.1, down from a final reading of 49.6 in February. Meanwhile, the most recent trade data show palladium imports halved year-on-year to 46,000 ounces, the lowest level since February 2009, and over the first two months of the year are down 27% year-on-year.

“The decline in imports has started off the year on a weaker note in comparison with the auto sector, but we do expect palladium demand to improve as tighter emissions legislation are implemented in light of a draft 'Beijing V emission standard,' coupled with modest growth in auto production,” Barclays added.

 Platinum imports fell to 188,000 ounces and imports for the year to date are still down 29% year-on-year.

 “Even though platinum has traded at a discount to gold on a sustained basis since September, physical demand from China has not responded with the same enthusiasm as in 2008-09, given healthy inventories that were built as platinum prices closed in on their premium to gold last year. However, appetite has responded to price corrections in March, with daily levels jumping to their highest since October,” Barclays continued.

As of 9:13 a.m. EDT, Nymex April platinum was $24.20, or 1.5%, lower to $1,616.20 an ounce. June palladium was down $23.20, or 3.4%, to $666.45.

Also Read:
Start a discussion or add a comment
360
September 28th 2016
The ISRI Copper Roundtable was moderated by Greenland America Inc.’s Randy Goodman. The speakers included Chris Lewon of Utah Metal…
September 27th 2016
Among base nonferrous metals, Aluminum is the most widely used in the US. The aluminum metal recovered from purchased new…
September 27th 2016
Washington-headquartered Institute of Scrap Recycling Industries (ISRI) has announced the release of the 2016 Scrap Yearbook.
September 26th 2016
The latest official trade statistics released by various Asian countries indicate significant surge in ferrous scrap import volumes.
Paul Ploumis

Paul Ploumis
(ScrapMonster Author)

Paul Ploumis is the Scrap Monster Founder and CEO.  With years of experience in the Scrap and Recycling industry, he
Scrap Metal Prices
ItemPriceUnit
6061 Extrusions0.55$US / Lb
Zorba 90% NF0.51$US / Lb
Old Sheet0.47$US / Lb
6063 Extrusions0.61$US / Lb
Alternator0.37$US / Lb
#1 Copper Wire and Tubing1.94$US / Lb
P
New Equipment
Wayne
E
Oil & Gas
Calgary
C
Oil & Gas
Calgary
C
Oil & Gas
Calgary
D
Energy & Renewables
Wayne