Scrap Metal Prices and Scrap Metal Auctions

NEW DELHI: Declining auto sales thanks to the economic slowdown across several countries in the world have hit the aluminium industry. Aluminium prices are coming down day by day, prompting experts to say that the metal prices will crash all time low in the near future.

Shibu Swarup, a metal analyst, said that aluminum prices will come down from the current levels in days to come. “Aluminium is a very volatile commodity. The metal is in a bearish mood these days,” he said.

Several countries led by Japan and US are are facing declining auto sales. Automobile sales in Japan fell last year to a 35-year low as a shrinking population and limited wage growth hurt demand. Japan Automobile Dealers Association showed sales of cars, trucks and buses down 7.6% from the previous year at 3.4 million.

The Indian scenario is not very different. Rising borrowing costs is affecting the auto industry. Purchasing powers of the customers are bound to be low on the back of inflation curbing regime of RBI. Dollar is trading at 6 months high against the EURO which reduces the appeal for metals like Copper and Aluminium. This is very unlikely scenario, as we have are used to see Dollar declines.

For complete story go to www.commodityonline.com/news/Why-global-aluminium-prices-are-crashing-11048-3-24.html

Source: www.commodityonline.com

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