Scrap Metal Prices and Scrap Metal Auctions

Base metals may remain upbeat in the coming week driven by the speculation that the stimulus packages proposed by the governments of the US and China will revive growth and boost demand for industrial commodities. The anticipations regarding the revival of China, the world’s largest consuming nation, by allocation of funds $535-billion (second time) has created a positive sentiment in the market. The betterment of global economies with the fresh stimulus package of $900 billion as proposed by the US President Barack Obama has provided motivation to the world economy. According to a forecast given by BNP Paribas – China’s economic plan will boost copper demand by 6.2 per cent this year, while US spending will increase the use of the red metal by 4.1 per cent.

Source: www.commodityonline.com

Filed under: Base Metal Prices