BIR releases Non-Ferrous World Mirror- Apr '14

BRUSSELS (Scrap Monster): The Bureau of International Recycling (BIR) has released the latest Non-Ferrous Metals World Mirror-April ’14. The report highlights the effects of geopolitical and economic effects on global non-ferrous scrap trade.

The demand in China continues to remain weak. The uncertainty created by Russia-Ukraine crisis also resulted in huge drop in LME copper quotations. The copper availability in the US has diminished, with sellers waiting for a market rebound. On the other hand, strengthening of Indian rupee and a sentimental lift has led to improved business.

The sudden drop in LME prices have left many South African dealers holding the material bought at higher prices. The traders in Italy too hold huge stocks. The trade has weakened as the traders are not willing to sell their goods until prices show some sort of recovery.

The fears of economic relations with neighboring Russia have created concern among Nordic countries. Within Russia, the non-ferrous market is reportedly witnessing stable demand. Scrap inflows witnessed significant jump in New Zealand.

The scrap supply situation in Japan continued to remain tight. The exports to South Korea and China have declined sharply. In France, demand for lead batteries remained strong. The demand for mixed brass scrap has diminished in Southern European region. Low LME quotations have made secondary aluminum scrap readily available in German market.