Scrap Metal Prices and Scrap Metal Auctions

This is an excerpt from the article Commodity Trends: Depression hits global markets at www.yieh.com
Base metals
In the last few weeks, base metals have traded on a volatile note as sentiments across global financial markets remains weak. Base metals pack has witnessed steep declines in the past few weeks. With prices going below their marginal […]

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Base metals slide on Monday - Base metals on the LME were all down on Monday, as the US unemployment rate climbed to 14-year high of 6.5 percent, except for tin price.
Tin price increased by US$125/ton to US$14,700/ton. Copper price dropped by US$50/ton to US$3,755/ton, with stocks increasing by 2,250 tons.
Nickel price dropped by US$430/ton […]

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The base metals on the LME were mixed on Monday, November 3, 2008.
Tin price boosted by US$1100/ton to US$14,500/ton, as the stocks decreased by 3.5 percent. Nickel price briefly dropped by US$150/ton to US$11,950/ton. Copper price also dropped by US$9/ton to US$4,090/ton.
Zinc price saw an increase of US$45/ton, closing at US$1,170/ton, while aluminum price also […]

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Base metals remained buoyant. Copper rebounded on the back of global effort to recapitalize banks triggered a broad recovery in financial markets. The recovery came as the U.S. plans to inject $250 billion into its banks, following a concerted European drive to do the same, boosted stock markets. In another development, China’s imports of unwrought […]

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Base metals, steel outlook becoming negative as growth and demand weaken - excerpts from article are as follows:
Standard & Poor’s says the credit outlook in the European mining and steel sectors is becoming negative, “pressured by vulnerable prices, higher costs, and tightening liquidity.”
“Demand in the developed markets of Europe and the U.S. is weakening, and […]

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LME base metal price slipped Wednesday due to the continued rebounded US dollar and the global economic slowdown worries while the copper future hit the three days low. LME copper was closed at $6,905 yesterday, down $90. Today SHFE copper future opened lower, later went up in the fluctuation. The scrap copper price kept stable […]

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Poor sentiment, macroeconomic concerns & financial sector woes are weighing on base metals prices as the market witnessed huge sell-offs during the inception of the week. After reviewing the LME open interest report, it portrayed that all base metals saw long liquidation over the past week, with particularly large declines in open interest in aluminium, […]

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Industrial slackness from major base metals consuming countries have hit the prices hard. Demand from the powerhouse China have been quite low in past few months while UK and US are facing worst economic slowdown. Recently the bankruptcy of Lehman and the announcement of sale of Merrill Lynch sent jitters in the financial system.
Lack of […]

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BASE METAL OUTLOOK
Copper prices could weaken further on the back of weak sentiments. We had expected copper prices to correct and come down to around $7,500 levels. However, the red metal has breached that level and is now trading lower. In the coming week, we expect copper prices to find support at $7,000 and face […]

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BASE METALS OUTLOOK
The base metals pack has been reacting to the currency market movements amid a seasonal slowdown in demand. In the past six weeks we have witnessed a broad-based sell-off in commodities on the back of a stronger US Dollar and weaker US macroeconomic data in the US, Europe and Asia. Though demand has […]

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As per the expectations base metals assemblage is reacting in line with currency movements in a big way. Currency fluctuations are expected to play the vital role in influencing base metals also as it makes base metals cheaper or expensive as per the movement in dollar. Though, the recent jump in base metals cannot be […]

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The base metals complex traded mixed on Wednesday as the market is currently in a directionless phase, attracted by various factors. Major significance lies in the US Dollar movement as it is mainly affecting base metals movement.
Copper prices touched a high of $7,700 on the LME and Rs. 335.30 on the MCX yesterday. Inventories […]

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MARKET ANALYSIS
The base metals pack was hurt badly on the back of speculative liquidation on Friday. All base metals ended in the negative territory despite a decline in LME inventory data in case of four out of six base metals.
Metals did not receive support from the decline in inventories as overall sentiments were weak. The […]

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Commodity Online
MUMBAI: June was a month of gloom for metals especially non-ferrous except perhaps aluminium.
“Metals had a relatively poor second quarter, with most losing ground. This is in contrast to other commodities, some of which had a storming Q2. Is a slowing global economy beginning to feed through into metals, and what are the
prospects for […]

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Base Metals
India
The base metals pack witnessed phenomenal performance in the week gone by. Metals with weak fundamentals gained on the back of a major bout of technical buying and short-covering. We have noticed in the past few days that the six base metals have seen divided performance as three metals i.e., copper, aluminum and tin […]

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