Register for weekly alerts

No gains expected from Chinese metals over the summer

Date: Wed, 27 Jun 2012 | Author: Paul Sanderson

Image for No gains expected from Chinese metals over the summer

The BIR World Mirror on non-ferrous metals has predicted that Chinese prices will remain static over the summer.

Writing in the China section of the monthly report, David Chiao from Uni-All Group in the USA noted that the economic situation in China remains challenging.

He added: “Summer, traditionally the slow season, is approaching, and copper will sit at RMB 54,000 (£5,434) per tonne whereas aluminium will remain at the RMB 15,500 (£1,560) level.

“Lead has broken the support at RMB 15,000 (£1,509) per tonne and dropped to RMB 14,800 (£1,490), while zinc is under pressure from an excessive inventory of 207,000 tonnes during the first four months of this year and has dipped to RMB 14,600 (£1,470).

“The RMB itself has dropped to 6.40 to the US dollar from a high of 6.20 in January this year.”

 

Are you attending our Growth Opportunities in Recycling and Waste conference on 13 July at One Drummond Gate in London? Find out more at www.scrap-ex.com/conferences     

Category: Recycling
Recoup Conference 2017Recycling UKNovelis Every Can CountsHanicke Robins Sanderson