NEW YORK Export prices for zorba, a lower-grade nonferrous auto shred, have remained relatively steady over the past few weeks as strong Chinese demand for material with high metallic content continues to buoy the market, sources said.
"The zorba price has stayed the same in a scrap market that has shown some recent deterioration," one zorba exporter told AMM. "We can sell all the zorba we need to sell. China will pay up for good material but they dont want crap."
Most exporters said prices for material with 94- to 95-percent metallic content hovered at 75 to 75.5 cents per pound, while prices for material with 90- to 92-percent metallic content were roughly 2 cents lower, or 73 to 73.5 cents per pound.
Exporters noted that even though "Operation Green Fence" is still in effect (amm.com, May 16), a better understanding of the rules and regulations has allowed exporters to ship loads without fear of rejections or delays at the ports.
"We dont have a problem with Green Fence and zorba. As long as the loads are not contaminated with banned materials, China is more than happy to accept zorba. They need the material," a second exporter said.
A third exporter said that zorba has become one the easiest shred products to ship into China, provided the metallic content is above 90 percent. "Forget about zurik and other items that have been banned," he said. "China doesnt want it. Zorba seems to be the only thing they (Chinese consumers) can take at the moment."