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Zorba steady on strong China demand

Keywords: Tags  Zorba, nonferrous auto shred, China, demand, Operation Green Fence, Nathan Laliberte

NEW YORK — Prices for zorba, a nonferrous auto shred, remain steady but some U.S. exporters say the market could be primed to rise due to China’s continued growth in the automobile sector.

“China is definitely looking for material at this point,” one exporter told AMM. “There is also tightness on junk cars in the United States, which could cause shippers to raise the price on zorba, especially if Chinese demand stays strong.”

Most exporters pegged prices for material with a 94- to 95-percent metallic content at between 77 and 80 cents per pound and material with a 90- to 92-percent metallic content at around 74 to 75 cents per pound, both unchanged from Sept. 9.

“We’re seeing really steady demand right now. I haven’t heard of any low-ball deals going on, and I can’t remember the last time Chinese consumers have tried to aggressively push prices on high-quality material,” a second exporter said.

Meanwhile, ‘Operation Green Fence,’ China’s stepped-up enforcement on imports of raw materials into the country, continues to present challenges for exporters of nonferrous auto shred. Some have attempted to narrow their list of Chinese buyers in the hope of avoiding issues with customs officials at Chinese ports.

“I’ve really only been selling to one guy lately because I don’t want any issues,” a third exporter said. “I can’t be dealing with consumers who have, in the past, had any problems at port. The cost of getting a load rejected is far too great for me to take on any additional risk.”

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