Scrap Metal Prices and Scrap Metal Auctions

H2 scrap price up for consecutive 3 week in Japan

As reported by www.yieh.com  - The average price of H2 Scrap in Japan this week was ￥23960/ton, up by ￥456/ton than the previous week. The average weekly price has been increasing for consecutive three week.

Specifically, the average price in Kanto region was ￥25167/ton, up by ￥167 than the previous week. In Kansai region, the price was ￥24733/ton.

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As per the American Metal Market – Heavy steel scrap from Puget Sound Naval Shipyard was priced at an unusually high $344 per long ton in an auction of military scrap.

The winning bid of $279,000 is for material to be generated over a six-month period, with a monthly price adjustment pegged to prices. For the complete article see Shipyard Scrap Prices

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As reported by the American Metal Market (AMM) – Copper nears $7,000/T on LME, at 14-month high on Comex. As per the article, it seems copper will continue to rise.  See complete article here on Copper’s Rise

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Aluminum price moving higher in EU as reported by www.yieh.com –  Recently, the EU aluminum market has experienced tight supply and some producers are unable to offer more product for the fourth quarter; this situation has pushed the aluminum price higher. The aluminum price in the EU market has soared by about US$75-85/ton. During the same time, the Japanese market has witnessed aluminum stocks dwindling; this has led the Japanese aluminum premium market price to rise as well.

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Bidding begins on November 25, 2009

Lot 8360 – LOT (2800) LBS. APPROX. FIRED BRASS IN 6 PLASTIC BARRELS ON 2 PALLETS, AND ARE INCLUDED IN TOTAL WEIGHT – Malmstrom AFB, MT

Lot 7150 – LOT (420)LBS APPROXMATELY OF 5. 56MM FIRED BRASS STORED IN WOOD BOX AND 2 AMMO CANS - Corpus Christi, TX

Bid Now on Brass for Sale!

Lot 8301 – LOT (2640)LBS APPROX. OF ASSORTED FIRED BRASS CONSISTING OF 40CAL. 45CAL. AND 22CAL. SHELLS – Fairbanks, AK

Lot 7600 – LOT (12, 443)LBS. APPROXMATELY OF 5. 56 FIRED BRASS CASINGS, CASINGS ARE STORED IN 55 GALLON DRUM CONTAINERS WITHOUT LIDS – Fort Polk, LA

Brass for Sale – Bid Now!

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Bidding begins on November 19, 2009

Lot 6560 – LOT (85, 000 LBS)APPROX OF OFFICE EQUIPMENT AND COMPUTER PERIPHERALS LOCATED AT DRMO 328 ITALY STREEET, FT STEWART, GEORGIA 31314. – Fort Stewart, GA

Bid Now on Office Equipment

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Base metal prices retreated from their highs on Tuesday as the dollar strengthened but the increasingly bullish sentiment that pushed copper and aluminum to fresh peaks remained intact. The Dollar Index rebounded on Tuesday and was off the 15-month lows of the previous session after Federal Reserve Chairman Ben Bernanke said the US central bank was attentive to implications of changes in the value of the dollar. Risk aversion in the financial markets increased demand for the low-yielding dollar. But equities gained marginally in the US and fell in Asia and Europe.

Copper prices touched a high of $6,873 on the LME yesterday, a fresh high since last September 2008. Inventories for the red metal gained 3,550 tonnes to 410,000 tonnes, the highest since April 29 of this year. But cancelled warrants, the metal booked for removal jumped 37.5% to 2,200 tonnes, pointing towards a possible stock decline ahead.

The latest forecast from the International Nickel Study Group indicates that the nickel market is expected to be in surplus of 64,100 tonnes this year, down from last year’s 99,400 tonnes. But the surplus should grow to 87,400 tonnes in 2010 amid higher production from North America. Nickel prices could come under pressure in the near-term as expectations of surplus amid a weak stainless steel demand scenario would be bearish.

The sharp rally in base metals in the last few weeks has been backed by a weakening dollar and expectations of an improvement in demand in the coming year. But inventories currently remain high. And in this situation of a rise in inventories a weaker dollar is coming to the rescue. The Federal Reserve is not expected to raise interest rates in the near-term and the trend in the dollar index continues to remain down. This is supportive for all dollar-denominated commodities.

Labour worries in the case of copper will continue to provide upside support. Additionally a weaker dollar could fuel the upside in the red metal.

Copper – Copper prices are sideways with immediate support for MCX November contract seen at Rs.313.83. Further below, crucial support is seen at 311.25 levels. Whereas resistance is seen at Rs.320.05 levels & further upwards at Rs. 323 levels.

Zinc -Zinc prices are sideways with immediate support seen at Rs.102.85 levels for MCX November contract whereas crucial support is seen at Rs.101.90 level. Short-term resistance is seen 8at Rs.104.75 whereas major resistance is seen at Rs 105.65 levels.

reported by www.commodityonline.com

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Here is a list of current auctions for surplus scrap rubber and plastics for sale by auction:

U.S. Government Surplus Rubber – Bid Now on Auctions!

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Base metal prices gained sharply on Monday as a weakness in the dollar coupled with a rise in risk appetite on the back of positive US retail sales data pushed prices higher as reported by www.commodityonline.com . Most metals ended with gains between 3.5 – 5% yesterday. The dollar index touched a low of 74.68 and led base metals higher as it made them look attractive for holders of other currencies.

The base metals complex was boosted by dollar-induced fund buying and worries that severe snowstorms in China may disrupt shipments. Snowstorms in China could impact deliveries and smelter operations, and this factor coupled with a weaker dollar boosted base metal prices.

Copper prices gained a whopping 4.8% despite a rise in LME inventories by 2,825 tonnes on Monday. Nickel prices revived on Monday and gained almost 4% despite a 132-tonne stock increase to 131,880 tonnes, a fresh high since March 1995.

Base metal prices could come under pressure today as Federal Reserve Chairman Ben Bernanke’s statement indicated that significant challenges remain to revive the world’s largest economy. He also added that the US economic recovery will be restrained by headwinds of reduced bank lending and a weak labor market and future setbacks were possible.

Copper – Copper prices are sideways with immediate support for MCX November contract seen at Rs.309.70. Further below, crucial support is seen at 305.50 levels.

Whereas resistance is seen at Rs.318.15 levels & further upwards at Rs. 321.80 levels.

Zinc – Zinc prices are sideways with immediate support seen at Rs.101.70 levels for MCX November contract whereas crucial support is seen at Rs.99.85 level. Short-term resistance is seen 8at Rs.104.70 whereas major resistance is seen at Rs 105.75 levels.

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Bidding begins on November 18, 2009

Lot 8403 – LOT (7)PLTS, METAL BEAM FEATURES INCLUDES, MOUNTING STUDS, 9′ IN LENGTH AND HEAVY DUTY CONSTRUCTED BODY, MUTILATION NOT REQUIRED.  – Comnavmarinas Base, GM

Bid Now on Metal Beams for Sale

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