Zorba glut causes concern for US scrap market
May 07, 2013 | 02:59 PM
| Nathan Laliberte
NEW YORK Chinas Operation Green Fence, which has stepped up enforcement of restrictions on raw material imports, has caused an oversupply of shredded aluminum scrap in the United States, sources told AMM.
Export prices for zorba have weakened over the past seven to 10 days as a result, some market participants have said.
Picked-up prices for 90-percent metallic units with 3-percent red metal hovered around 73 to 74 cents per pound, down 1 to 2 cents from two weeks ago, exporters said. ....
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