NEW YORK U.S.
export prices for zorba, a nonferrous auto shred, have weakened
over the past week, with demand from China declining
significantly in November, according to sellers.
Most exporters put
prices down 1 cent on the high end from Nov. 13, with 94- to
95-percent metallic content material now at about 74 to 75
cents per pound and 90- to 92-percent metallic content material
at 71 to 72 cents per pound.
"The export price for
high-grade zorba delivered to China is around 74 cents per
pound," a buyer at a major Chinese aluminum smelter told
AMM. "Chinese buyers are slowing down in November
because of weak demand. There is plenty of scrap available and
we dont anticipate the flow will slow down in
confirmed that demand from China had weakened in recent weeks.
"Scrap dealers are telling me that China is taking minimum vs.
maximum monthly quantities," one scrap trader said. "It appears
theres a lull in the market, but that could pick up in a
lower (London Metal Exchange) environment."
One exporter said that
price negotiations had become relatively one-sided. "It has
become more difficult to push the consumers on prices. Prices
are off 1 to 2 cents per pound in recent weeks, along with
aluminum and copper prices in general."
The holiday season
could have some bearing on the recent slowdown, the scrap
trader said. "Mainly, I think U.S. scrap dealers are reluctant
to sell at lower numbers prior to the end of the tax year," he
said, noting that demand usually spikes at the start of the new