Scrap Metal Prices and Scrap Metal Auctions

Spurred by the better stock market in the EU and UAS, the London Metal Exchange (LME) showed that aluminum futures on 29th rebounded, rose and finally closed at 2,095 points, up by 25 points, or 1.21%. Inventory, on Thursday, dropped 4,500 tons, totally to 4,390,625 tons.

Today Shanghai aluminum opened low and fluctuated low. Contract 1011 closed at 15,460 points, down by 40 points, or 0.26%, trading at 15,420 to 15,535, positions increased 6,336 hands, turnover increased slightly.

On the spot market, the Yangtze A00 aluminum 15,080-15,120 RMB/T, unchanged from yesterday’s; Shanghai A00 aluminum ingot 15,070-15,100 RMB/T, down by 35 RMB/T; Guangdong Nanchu A00 aluminum ingot 15,010-15,150 RMB/T, down by 30 RMB/T.

In the short term, the stabilized stock market and decrease in dollar value supported aluminum price, and rising copper price also propped up aluminum price. Aluminum price would be constrained in the short term and future aluminum price would be adjusted.

Today, the domestic aluminum price was stable and buyers procured on demand. Watching attitudes were strong in the market. The overall trading atmosphere was sluggish. Latest market price: shred tense 12,800 RMB/T, shred taint 12,000 RMB/T.

Taken together, privilege for high-demanding electric energy was canceled, which increased the cost of producing aluminum. Economic development of the second half year was no better than the first half, and aluminum price will be at the range of 14,500-17,000 RMB in the short term.

(1RMB=0.1476USD) News Source www.worldscrap.com

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Spurred by the better stock market in the EU and UAS, the London Metal Exchange (LME) showed that copper futures on 29th rebounded, rose and finally closed at 7,255 points, up by 80 points, or 1.11%. Inventory, on Thursday, rose 100 tons, totally to 411,525 tons.

Today Shanghai copper opened high, rebounded and closed a little lower. Contract 1011 closed at 56,280 points, up by 140 points, or 0.25%, trading at 55,900 to 56,400, positions increased 8,744 hands, volume reduced significantly.

On the spot market, the Yangtze 1 # electrolytic copper 56,150-56,350 RMB/T, up by 225 RMB/T; Shanghai # 1 copper 56,100-56,350 RMB/T, up by 75 RMB/T; Guangdong Nanchu 1 # electrolytic copper 56,150-56,350 RMB/T, unchanged from yesterday’s.

Today, domestic copper price was stable and downstream buyers inquired positively. Goods holders quoted firmly and were reluctant to ship. Trading volume was small. Traders were uncertain about the future market. Latest Market Price: 1 # bare bright 51,600 RMB/T.

On the whole, less stock and stabilized stock market supported copper price. However, global economic recovery had uncertainty. Copper price will be on the shock.

(1RMB=0.1476USD) News Source www.worldscrap.com

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During the fourth week of July, Japanese H2 scrap average price in the Kanto region, Middle part and Kansai region was ￥26,931/ton, dropping by ￥300/ton than the previous week.

The average price has dropped by ￥1,422/ton for successive three weeks.

Among them, H2 scrap average price in the Kanto region was ￥28,167/ton, down by ￥166/ton than the previous week; that in Middle part was ￥25,560/ton, down by ￥400/ton, the price in Kansai region was ￥27,067/ton, down by ￥333/ton compared to the previous week.

News Source www.yieh.com

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According to statistics, Malaysia imported 260,000 tons of scrap in April, an increase of 27.6 times year on year, also on a monthly increase of 180 percent.

Meanwhile, scrap imports during January to April hit 579,000 tons, up by 420.8 percent year on year.

Among them, import from the United States reached 129,000 tons, accounting for 22.3 percent , up by 1956.4 percent; South Africa 100,000 tons, accounting for 17.4 percent, increased 197.5 percent; Australia, 80,000 tons, accounting for 13.8 percent, raised by 192.8 percent; Singapore, 70,000 tons, accounting for 12.1 percent, an increase of 100.1 percent, all year on year.

News Source www.yieh.com

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Taiwan’s Tycoons Group has announced to cut its al-killed steel wire rod price by NT$1,500/ton to NT$25,500/ton, starting from July 30.

The screw industry become worse for two months. In addition, China’s wire rod price is US$120~150/ton cheaper than Taiwan’s offer.

Current demand remained weak on subdued demand and sales also decreased sharply in the market. Therefore, the company decided to cut price in order to release some pressure for its downstream customers.

News Source www.yieh.com

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Vietnam domestic steel mills have raised steel prices since the start of July by 200,000 -700,000 dong/ton (US$10~37) after dropping their prices in May and June.

Current prices for steel delivered at the mills are around 12.2 to 13.26 million dong/ton (US$640~696), and the retail prices are around 14.2 million to 14.4 million dong/ton (US$745~755).

In response to the price hike, consumption of domestic steel has dropped by 40 to 50 percent over the previous month.

News Source www.yieh.com

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LME nickel price is edging higher recently and Taiwan’s major stainless steel producers have also announced to increase their prices accordingly.

Tang Eng has announced to increase its price after Yieh United Steel Corp. (Yusco) announced it new price. The price level is expected to close between these two mills offered and new price level could more favorite to close spot market.

The demand does not show positive direction yet; however, it is expected to improve as the nickel price continues to increasing.

News Source www.yieh.com

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Affected by the nickel price on the LME, Chinese stainless steel market fluctuated in July.

The Chinese stainless steel price began to go up from the mid of July while the transaction volume did not soar.

Because August is the traditional off season, it is estimated that the Chinese stainless steel price would probably continue its fluctuation in August.

It is said that because some Chinese stainless steel mills had cut their output, the less supply had also contributed to the price increase.

News Source www.yieh.com

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