By Paul Ploumis 26 Jun 2015 Last updated at 08:34:20 GMT
BRUSSELS (Scrap Monster): The Bureau of International Recycling (BIR) has released the Non-Ferrous World Mirror June 2015 edition.
Scrap exports to India has almost come to a halt, in anticipation of further clarity on pre-shipment inspection procedures by the Indian Directorate General of Foreign Trade (DGFT). Meantime, the Metal Recycling Association of India (MRAI) is reportedly in discussions with the DGFT on excluding secured yards from certification requirement. The Indian authority had announced certain relaxations to the earlier rules, by accepting photos as alternative to video.
Meantime, Chinese State Council has proposed taxes for pollutants and solid waste. It also has proposed penalties for exceeding the set limits and incentives for those who outpace national standards. The Chinese refined copper consumption is poised to grow nearly 4%-5% in 2015.
Russian government has temporarily dropped plans to impose restrictions on export of scrap metal. However, the new government regulation brings many categories of ferrous and non-ferrous scrap under its purview, thus making it easy for the government to restrict exports without public consultation.
Weakness in LME aluminum prices has led to further decline in aluminum scrap prices in Japan. The aluminum scrap prices have dropped by nearly 5% over the past month period. The demand for domestic raw materials picked up in the country. The Mexican demand for various aluminum grades remained strong, especially from the automotive industry.
The advent of Ramadan season has resulted in sharp slowdown of business in the Middle East. Aluminum and copper scrap prices continued to remain under pressure, on weak demand. Activity levels dropped in South Africa. Illegal exports of copper and brass scraps without necessary export permits flourished.
Meanwhile, non-ferrous metal prices continued to remain soft in the US. The premiums also witnessed sharp decline. The scrap supply levels remained weak in France. Sharp drop in LME copper prices are likely to impact scrap trade activity in the Nordic countries. Scrap prices continued to decline in Germany. The availability of copper scrap remained at high levels. Nickel market too recorded surplus availability. Zinc demand remained robust in Germany.
The scrap trade in the UK reported shortage of supply. The domestic scrap industry is still not out of the woods with aluminum premiums dropping sharply from $520 to $170.
The lead demand in Italy reported robust growth on account of increased battery production. Copper scrap reported low availability in the country.
