Scrap Metal Prices and Scrap Metal Auctions

Base metals extended their losses as London Metal Exchange stockpiles rose to the highest level since March 2004 also weighed on copper. Copper prices sagged on news that construction starts on new U.S. homes fell to a record low in October, as did new applications for building permits, signaling that the housing downturn may extend well into the future. Aluminum supplies jumped 25 percent to more than 1.7 million tons, the highest since Dec. 20, 1994. Supplies increased even as producers including Alcoa Inc., the biggest U.S. aluminum company, cut output because of weakening demand and prices. Aluminium fell to $1,822, Zinc dropped to a low of $1,132.50, lead made a low of $1,186.25 and Tin fell to a low of $11,300.

Source www.commodityonline.com

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