Base metal prices, including copper, took a dive in world markets today. A firmer US dollar and speculation China may slow stockpiling base scrap metals. Copper prices fell to their lowest prices in more than a week.
Tin, aluminum and zinc followed lower copper prices as cuatious investors bid lower on commodity futures and base metals lost some of their luster from earlier in the week.
Battery lead and steel-making metal nickel prices were also slightly lower.
Some regional US dealers are taking narrower margins rather than drop purchase prices to their core suppliers. Thus many local scrap collectors may be unaware of the volatility of nonferrous metal prices.
Up and down nonferrous price are apt to be the trend during the next 18 to 24 months rather than an exception. Don't expect price stabalization until world economies begin to recover and consumer demand begins to push factory production upward.
- BenJMann's blog
- Login or register to post comments
- Printer-friendly version
- Send to friend
