Domestic zorba drops, fails to follow export prices
Dec 20, 2010 | 12:44 PM
| Sean Davidson
Domestic prices for zorba, a shredded aluminum scrap product, fell this month despite a spike in export prices as local supply chased weak demand, market participants told AMM.
Export prices for zorba (90- to 92-percent metal recovery) moved to between 76 and 78 cents per pound last week from 71 to 74 cents in mid-November. Exporters said stronger primary markets, increased buying from China and India, and the anticipation of higher prices in the first quarter of 2011 had contributed to higher export prices.
In the more immediate domestic market that buys zorba for quicker consumption, healthy supply volumes and little demand from secondary mills, which typically slow down production in December, pushed prices down. Traders and consumers reported declines ranging from 2 cents to 50 cents per pound based on metallic recovery.....
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