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Metal Recycling News October 20, 2016 10:30:59 AM

BIR releases Non-Ferrous World Mirror-October 2016

Carolina Curiel
ScrapMonster Author
The Bureau of International Recycling (BIR) has released the October ‘16 edition of its Non-Ferrous World Mirror.

BIR releases Non-Ferrous World Mirror-October 2016

BRUSSELS (Scrap Monster): The Bureau of International Recycling (BIR) has released the October ‘16 edition of its Non-Ferrous World Mirror.

According to David Chiao, President, BIR’s Non-Ferrous Division, the non-ferrous metals trade remained buoyant across the globe during recent months. The prices of most of the commodities have staged a decent rebound during this period. However, the demise of Hanjin Shipping Co. Ltd- South Korea's largest and one of the world's top ten container carriers in terms of capacity has had its impact on global scrap shipments. Reports indicate that there is still large number of containers stranded in harbours. The situation has also led to long delays in cargo shipments, apart from congestion at ports.

In one of the notable developments during the past quarter, the Chinese General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) announced its decision to allow agencies other than China Certification and Inspection Group (CCIC) to conduct pre-shipment inspection of imported solid waste. The change in policy will open up doors to other agencies, which in turn will result in healthy competition among various agencies. The BIR noted that the move will put an end to CCIC’s monopoly. It also hoped that the pre-shipment inspection costs will come down sizably, thereby benefitting suppliers.

The state-run MSTC Ltd has entered into an agreement with Mahindra Intertrade to set up India’s first auto shredding and recycling plant. The new plant is expected to commence commercial production by March 2018 and will have a capacity to process 100,000 to 150,000 tonnes. The proposed plant will have automotive recycling capabilities including collection, compaction, transportation, depollution, dismantling, shredding, recycling and disposal. Simultaneously, the country is about to finalize a new policy on scrapping polluting cars.

Meantime, Russia has decided to keep the export duty charges on non-ferrous exports unchanged. In all the reviews done in the past four years, the country had reduced the duty. The government has announced that there will be no further lowering of export duty.

The Chinese Ministry of Industry and Information Technology (MIIT) announced that it will initiate steps to consolidate the non-ferrous metals sector in the country. As part of its five-year development plan, the Chinese administration has decided to restrict the expansion of non-ferrous metals industry. The expansion of copper, aluminum, lead and zinc production capacity will see increased restrictions.

The non-ferrous market continued to trade in low volumes in France. Copper scrap supply remained tight in Germany. The UK too reported shortage in scrap supply. The drop in ferrous scrap prices is expected to further limit the supply of non-ferrous scrap to yards in the US. Mexico has reported huge drop in demand for aluminum scrap on account of low smelter activity. Among other regions, Australasia reported mixed demand for non-ferrous scrap. The scrap availability remained strong in the Middle East markets. The region also reported healthy bulk scrap orders.

Meantime, Bank of America Merrill Lynch has published revised forecast for major non-ferrous metals. According to the forecast, the average copper price for 2016 has been downgraded to $4,734 per tonne from the earlier forecast of $4,828 per tonne. Similarly aluminum price has been lowered from $1,597 to $1,589 per tonne. Nickel price saw upward revision from $9,269 to $10,019 per tonne. Similarly, average zinc prices for the current year have been revised from $1,987 to $2,061 per tonne.

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