Author: Paul Ploumis26 May 2015 Last updated at 05:04:27 GMT
BRUSSELS (Scrap Monster): The Bureau of International Recycling (BIR) has released the Non-Ferrous World Mirror May 2015 edition.
The non-ferrous scrap imports to India were affected by the uncertainty over new guidelines with regards to pre-shipment inspection of metal scrap at loading ports. India’s Directorate General of Foreign Trade (DGFT) has announced certain relaxations to the earlier announced regulations on scrap metal imports into the country. According to DGFT, pre-shipment inspection agencies need to reapply for certification by an Inter-Ministerial Committee on or before 7th June. Also, photos will be accepted as alternative to video covering the inspection process carried out at containers.
The construction activities in connection with the upcoming Football World Cup in Qatar and 2020 World Expo in Dubai have led to increased supply of non-ferrous scrap into the GCC region.
Meantime, copper scrap imports by China surged almost 40% month-on-month from 280,000 tonnes during February to over 400,000 tonnes in March this year. The country’s copper demand reported marginal growth of 0.7% during the first quarter of the year. The full year growth for 2015 is estimated at around 4%.
The rise in import prices of Zorba scrap from the USA and Europe resulted in sharp rise in ADC12 aluminum alloy offer price to Japan by Chinese secondary smelters by nearly $30-$40 per ton during April this year. However, prices of the alloy remained unchanged in Japanese domestic market. On the other hand, aluminum premiums have tumbled by more than 40% in the US Midwest region. The prices of UBC and other alloys tumbled during this period.
Mill grade scrap demand almost disappeared in Mexico. Some Mexican yards have halted their business, by holding on to available material, as prices hit lower levels. In South Africa, shortage of certain grades of scrap has led to increased price levels. Trade volumes remained steady in Australia and New Zealand.
Russian government is likely to drop plans to implement restrictions on scrap exports. Non-ferrous sector in Italy remained relatively quiet with some activities reported in lead and zinc. Demand for non-ferrous scrap remained low in France. Primary and secondary aluminum witnessed increased demand in Germany.