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China drives nonferrous scrap export fall

Mar 11, 2014 | 01:28 PM |

Tags  copper scrap, aluminum scrap, China intake, scrap exports, nonferrous scrap, Nathan Laliberte




NEW YORK — U.S. nonferrous scrap exports fell in January amid weaker demand from China, whose intake of most nonferrous scrap—namely copper and aluminum—declined compared with December.

China, the biggest consumer of U.S. aluminum and copper scrap, reduced its combined intake of the products by 11.2 percent to 159,858 tonnes from 179,922 tonnes in December. The tally was also down 9.3 percent year on year from 176,276 tonnes, according to the latest data from the U.S. Commerce Department.

Exporters said the decrease was likely caused by a recent currency devaluation in China, which analysts attribute to the country’s recent crackdown on currency trading.

“Buyers in China are just not as eager for material right now,” one exporter source told AMM. “Between problems with the (Chinese) yuan and a drop in Chinese primary aluminum, they aren’t very hungry for imports at the moment.”




Latest Pricing Trends Year Over Year

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After witnessing the pace of steel plant idlings and worker layoffs during the first half of the year, what is your view of the second half of 2015? (choose one)

No matter what else happens, layoffs and shutdowns, etc., have nearly or essentially stopped for the year.
The environment will change little and the pace of layoffs will continue at a similar rate as the first half of 2015.
The environment will change little yet the pace of layoffs will begin to slow slightly to moderately.
The environment will change little yet the pace of layoffs could exceed the rate seen thus far.
The environment will improve slightly to moderately yet hiring and plant restarts will not resume this year.
The environment will improve slightly to moderately, with hiring and plant restarts commencing.
The environment will improve dramatically yet hiring and plant restarts will still be negligible in comparison.
The environment will improve dramatically yet hiring and plant restarts will only be slight to moderate.
The environment will improve dramatically, with hiring and plant restarts occurring nearly in tandem.


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