NEW YORK Export prices for zorba, a lower-grade nonferrous auto shred, have risen over the past two weeks as a combination of strong demand from China and strengthening exchange prices continued to support the market, sources said.
"The desirability for zorba has been a little higher lately," one zorba exporter told AMM. "We are stepping up prices mostly because our Chinese buyers seem willing to pay up for good material with high metallic content."
Most exporters said prices for material with 94- to 95-percent metallic content are between 76 and 78 cents per pound, up from 75 to 75.5 cents two weeks ago, while prices for material with 90- to 92-percent metallic content are steady at 73 to 73.5 cents per pound.
Cash aluminum prices on the London Metal Exchange ended the official session July 29 at $1,760 per tonne, up 0.4 percent from $1,752.50 per tonne July 16.
Exporters noted that material seems to be flowing into China without additional scrutiny from Chinese customs officials.
Most shippers now have a good understanding of Chinas stepped-up regulations on solid waste imports, known as Operation Green Fence (amm.com, May 16), and no longer fear rejection of material, a second exporter said. "As long as the material is clean, without circuit boards and has a high metallic content, you wont run into any problems."
"I have not been having a problem shipping any of our zorba. Our package is good, and as a result we have not run into any problems," a third exporter said.