January 2013

Sims launches scrap inventory investigation in UK

Sims Metal Management has launched a probe into the over-valuation of inventory at its Long Marston and Newport scrap facilities in the UK, it said.

US bulk ferrous scrap export prices remain stable in quiet market

US bulk ferrous scrap export prices were stable over the past week, with Turkey and China showing no buying interest.

MB NON-FERROUS UK SCRAP AND FOUNDRY INGOT PRICE CHANGES

The following MB UK non-ferrous scrap and foundry ingot prices changed on Wednesday:

UK secondary aluminium ingot price rise leaves producers wanting more

UK secondary aluminium ingot prices edged higher on Wednesday January 23, frustrating producers that have offered at higher numbers after encouraging increases in European prices.

DAILY SCRAP REPORT: Index falls to three-week low with fresh trades

The Metal Bulletin daily ferrous scrap index for HMS 1&2 (80:20) scrap fell by $5.89 per tonne day-on-day to a three-week low on Wednesday January 23.

Warehouse queues behind high aluminium premiums, says Novelis exec

Tom Walpole, president of Novelis North America, discussed warehouse queues, the company’s expansion plans and their increased focus on scrap in an interview with Metal Bulletin.

European 18/8 scrap solids prices up on LME nickel rise

European stainless scrap 18/8 solids prices edged up at the end of last week on nickel price movements on the London Metal Exchange, merchants told Metal Bulletin sister title Steel First on Tuesday January 22.

BIR confident EU reverse charge system will cut VAT fraud in scrap markets

The Bureau of International Recycling is confident that a simplified system for collecting VAT on scrap metal sales will spur a decline in VAT fraud within the EU, the organisation’s director general told Metal Bulletin.

US ferrous scrap exports shift to Asia

The US bulk ferrous scrap export market took an unlikely turn last week after one exporter abandoned traditional freight routes to manage the current demand environment.

DAILY SCRAP REPORT: Index falls on lower Black Sea offers

The Metal Bulletin daily ferrous scrap index for HMS 1&2 (80:20) material slipped to $400.98 per tonne on Tuesday January 22, down by $1.49 per tonne day-on-day.