UNITED STATES July 02 2015 3:35 PM
LONDON (Scrap Register): Falls in LME aluminum and copper put pressure on Middle East scrap prices during the holy month of Ramadan which began on June 18 and generally brings a slower period for business.
According to Bureau of International Recycling, activity levels are also lower in South Africa where raw material availability is sufficient and prices paid for scrap are close to what is achievable for export business.
Copper and brass scrap are still being exported with or without export permits and under different tariff headings, fuelling the argument that 'no-one is benefiting' from the current International Trade Administration Commission system structure.
Elsewhere, aluminum scrap prices in Japan have dropped by 3-5% over the last month or so in response to a weaker LME. Scrap availability remains unchanged and local secondary smelters are continuing to seek more domestic raw material.
Demand for basically all aluminum grades is 'very robust' in Mexico in light of orders from new automotive plants and their suppliers, thus offering early evidence that the country's footprint as an aluminum scrap importer 'will grow significantly'.