LOT (421, 626 LBS. )APPROX. IRONY ALUMINUM. INCLUDING, BUT NOT LIMITED TO, SHAVINGS AND TURNINGS, HUBS, HOUSINGS, FANS, TUBES, AND OTHER VEHICULAR PARTS AND ATTACHMENTS. SOME OTHER NON-FERROUS, FERROUS, AND NON-METALLIC MATERIALS PRESENT. NO CULLING ALLOWED BY PURCHASER.

To bid on these lots go to Bid Now On Scrap Metal and Surplus Auction By Clicking Here and go to event 6808

Construction steel prices saw a hefty decline, as wire rod prices have dropped by RMB100~200/ton. Prices of rebar have decreased by RMB220/ton.

Prevailing offer prices for medium plate have reduced by RMB200~300/ton, continuing its downward trend.

www.yieh.com

By Kiran Varma
MUMBAI: Aluminium, one of the most widely used industrial metals in the world, is in a crisis these days. Aluminium inventories are piling up every day that the metal is under tremendous price pressure.

Data from the London Metal Exchange on Monday show that aluminium inventories have risen from 4725 tonnes to 1128100 tonnes in a short span.

LME three month forward contract is at $ 2785 per tonne. Supports for the contract is at 2755 levels. Aluminium prices at MCX in India are near its support levels and further weakness will take prices towards Rs 115 and Rs 112 levels.

Analysts say aluminium prices are expected to come down from the current levels in days to come. Aluminium is a very volatile commodity and also news driven, the expectations for coming days are bearish.

For remainderof article go to www.commodityonline.com/news/The-hottest-commodity-investors-fear-to-touch-11174-3-24.html

Old Mixed Aluminum 0.32 0.42 lbs USD
Old Yellow Brass 0.98 1.63 lbs USD
No.2 Scrap Copper 2.46 2.61 lbs USD
Mixed Lead 0.34 0.56 lbs USD
Nickel Scrap 5.57 7.43 lbs USD
No.2 Steel 352.80 441.00 ton USD
Stainless Scrap 0.64 0.85 lbs USD
Old Mixed Zinc Scrap 0.23 0.47 lbs USD
Car Bodies 73.50 122.50 ton USD
Unclean Motor Block Scrap 196.00 245.00 ton USD
Steel Wheel Rims 294.00 392.00 ton USD
Aluminum Wheels 0.65 0.85 lbs USD
Auto Transmissions 0.14 0.27 lbs USD
Clean Auto Radiators 0.68 1.14 lbs USD
Battery Scrap 0.09 0.15 lbs USD
Lead Wheel Weights 0.23 0.38 lbs USD

To bid on these events go to the link below and search the event calendar for EVENT 6799.

Bid Now On Scrap Metal and Surplus Auction By Clicking Here

Mixed Catalytic Convertor Scrap 26.54 44.19 each USD
Scrap Convertors (Small GM) 36.75 61.25 each USD
Scrap Convertors (Large GM) 55.27 92.16 each USD
Scrap Convertors (Standard American) 26.54 44.19 each USD
Large Domestic - Honeycomb 33.83 56.44 each USD
Scrap Convertors (Large Chrysler) 45.06 75.10 each USD
Scrap Convertors (Small European/Asian) 46.52 77.44 each USD
Scrap Convertors (Large European/Asian) 73.79 123.08 each USD
Scrap Convertors (Exotic 2 Biscuit) 92.89 154.73 each USD
Scrap Convertors (Medium) 18.96 31.65 each USD
Scrap Convertors (Double Plug) 22.17 36.89 each USD
Scrap Convertors (Jumbo) 46.08 76.71 each USD
Scrap Convertors (Diesel Convertor) 13.27 22.17 each USD

Mixed Scrap Iron & Steel 313.60 392.00 ton USD
No.1 Steel (HMS1) 392.00 490.00 ton USD
No.1 Steel (2 foot) 431.20 539.00 ton USD
Special Plate Punchings 470.40 588.00 ton USD
No.2 Steel 352.80 441.00 ton USD
No.2 Steel (2 foot) 372.40 465.50 ton USD
No.3 Steel (Unprepared Bushling) 333.20 416.50 ton USD
No.4 Steel (Silicon Bushling) 294.00 367.50 ton USD
No.4 Shredded Steel 274.40 343.00 ton USD
Mixed Cast Iron Scrap 313.60 392.00 ton USD
Sorted Machine Cast Scrap 372.40 465.50 ton

Old Mixed Zinc Scrap 0.23 0.47 lbs USD
Old Zinc Die Cast Scrap 0.26 0.51 lbs USD
New Zinc Die Cast Scrap 0.43 0.58 lbs USD
New Plated Zinc Die Cast Scrap 0.41 0.55 lbs USD
Zinc Borings or Turnings 0.11 0.22 lbs USD
Irony Zinc 0.14 0.29 lbs USD
Remelt Die Cast 0.39 0.52 lbs USD
Remelt Die Cast Sows 0.40 0.53 lbs USD
Galinizers Top Dross 0.20 0.40 lbs USD
Galinizers Bottom Dross 0.22 0.44 lbs USD
Zinc Dross 0.17 0.33 lbs USD
Zinc Oxide & ZnO Residues 0.06 0.15 lbs

No.1 Heavy Scrap Copper 2.79 2.94 lbs USD
No.2 Scrap Copper 2.47 2.62 lbs USD
Soldered Copper Pipe Scrap 2.14 2.29 lbs USD
Beryllium Copper Scrap 1.98 2.13 lbs USD
Light Scrap Copper 2.14 2.29 lbs USD
Copper Turnings 2.14 2.29 lbs USD
No.1 Bare Bright Copper Wire 2.86 3.01 lbs USD
No.1 Copper Wire Scrap 2.73 2.88 lbs USD
No.2 Copper Wire Scrap 2.47 2.62 lbs USD
No.1 Copper Wire Nodules 2.96 3.11 lbs USD
No.2 Copper Wire Nodules 2.47 2.62 lbs USD
No.1 Insulated Copper Wire 1.39 1.64 lbs USD
No.2 Insulated Copper Wire 0.83 0.98 lbs USD
No.3 Insulated Copper Wire 0.55 0.65 lbs

“Since nickel is one of the key raw materials for making stainless steel, the impact on its prices certainly create a better variation in the stainless steel market prices,” said Jindal Stainless director and Indian Stainless Steel Development Association president NC Mathur.

“We are looking to ease the stainless steel prices by up to 5-7 percent, but has not decided yet as there are some amount of doubt to be clarified,” he said. In the past one year alone, nickel prices have almost halved to $18,000/tonne.

Nickel is a key input of 304-grade stainless steel, which is primarily used for industrial applications, engineering equipment besides kitchenware.

Last year, nickel prices touched a high of $51,800 a tonne, which in turn increased domestic stainless steel prices by almost Rs 90,000 a tonne. At present, nickel prices are hovering around $17,500-18,000 a tonne and are expected to close at $20,000 this year.

Prices of 304-grade of stainless steel (with 8% nickel content) vary between Rs 1.4-1.6 lakh a tonne in the domestic market and constitutes 20-25 per cent of the country’s total annual stainless steel production.

Earlier this year, Jindal Stainless, had slashed prices of the metal by as much as 30-35 per cent owing to drop in nickel prices. Anticipating further dip in input prices, the company is planning another 5-7 per cent reduction in steel prices, official said.

www.commodityonline.com/news/Steel-prices-may-ease-on-fall-of-nickel-11088-3-24.html

Among them, the average price of H1 scrap in Pittsburgh was US$474.50/long ton, down by US$50/long ton and in Chicago was US$449.50/long ton, down by US$45/long ton from last week. And the average price of H1 scrap in Philadelphia was 423.50/long ton, down by US$50/long ton than the previous week.

In east coast, the average price of H1 scrap in New York, Boston, and Huston was US$408.83/long ton, a decrease of US$70/long ton. In terms of west coast, the average price of H1 scrap was US$184.33/long ton, dropped by US$13.34/long ton.

source www.yieh.com

Only a few buyers in Turkey and Asian countries are continuing some small quantity purchasing. Distributors are expecting further decreases in prices.

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