NEW YORK Export prices for zorba, a nonferrous auto
shred, have remained relatively unchanged over the past two
weeks as Chinese consumers continue to request a steady flow of
material, U.S. exporters said.
Most exporters said prices for material with 94- to 95-percent
metallic content are between 76 and 78 cents per pound, while
material with 90- to 92-percent metallic content is steady at
73 to 73.5 cents per pound.
One exporter said he had received quotes from other
international buyers, but maintained that Chinese consumers
were paying a slight premium over buyers from other countries.
I have had a couple of Indian buyers come into the market
over the past two weeks at about 3 cents lower than their
Chinese counterparts, he said. There is no reason
for me to take that type of business when China is still in the
Cash aluminum prices on the London Metal Exchange ended the
official session Aug. 19 at $1,872.50 per tonne (84.9 cents per
pound), up 6.4 percent from $1,760 per tonne (79.8 cents per
pound) July 29.
A second exporter noted that despite recent gains in terminal
markets, the price of zorba is often linked closely to supply
and demand fundamentals. Zorba usually doesnt move
with the LME, he said. If Chinese buyers say the
market is soft and choose not to raise quotes in step with a
rising LME, there is nothing you can do.