NEW YORK Export
prices for zorba, a nonferrous auto shred, have dipped slightly
over the past week, with shippers noting that a recent uptick
in U.S. supply had weakened the market.
Most exporters pegged
prices for material with a 94- to 95-percent metallic content
at 76 to 78 cents per pound, down from 77 to 80 cents Sept. 23,
and material with a 90- to 92-percent metallic content between
73 and 74 cents per pound, down from 74 to 75 cents.
Smelters in China have
been able to buy zorba at lower levels over the past week, one
buyer said. "Sure, the demand is there, but supply has
increased. Were able to buy our share of material at the
current price levels."
international demand, some sellers said that sentiment among
shippers was beginning to shift. "Nothing really good is going
on in China and nothing really good is going on here in the
U.S.," one shipper source told AMM, adding that he
felt the "good old days, when China was gobbling up material
and paying at or above market prices," was largely in the
Others noted that
ongoing issues related to "Operation Green Fence," Chinas
stepped-up enforcement on imports of raw materials, had reduced
the number of viable markets in China, which could lead to
continued downward price pressure.
"We try to sell zorba
to regions and buyers that dont require inspection," one
exporter told AMM. "I tell the guys that are quoting
that if they have to do an inspection, which means a guy from
CCIC (China Certification & Inspection Co. Ltd.) arrives at
our yard, its a competitive disadvantage for them."