Warming up. Ferrous scrap exports fell to the lowest level in over three years in January, but demand has since heated up along with the weather largely due to buying by Turkish and Asian mills.
U.S. ferrous scrap exports started off the year on soft footing, falling in January to the lowest monthly level in more than three years, although more recent activity has been on the upswing.
Nickel premiums have come off record highs in the United States as Vale Inco Ltd.’s Canadian nickel is poised to step back into the market to some degree and service centers have already completed much of their second-quarter stainless steel buying ahead of higher April surcharges, market participants said.
| Silver | -4.45% |
| Palladium | -1.50% |
| Silver | -0.41% |
| Tin | +0.42% |
| Lead | +0.44% |
| Aluminum | +1.75% |
| Nickel | +1.99% |
| Silicomanganese | +4.41% |
| No. 1 heavy melt | +4.92% |
| Ferromanganese | +24.07% |
A deep and lingering recession has wrung risk-taking and overbuying out of the metals supply chain. Inventories are lean, consumers are wary and the body blow delivered by the downturn has prompted mills, distributors and OEMs to embrace a ‘new normal.’
Live News
