August 2013

Drop in rupee's value stalls Indian scrap imports

A renewed drop in the value of the Indian rupee against the US dollar has kept Indian scrap buyers out of the market for another week.

US Midwest steel mills settle August domestic scrap bookings

Steel mills in the US Midwest have concluded a majority of their scrap-buying programmes for August, market sources have told Metal Bulletin sister publication AMM.

DAILY SCRAP REPORT: Turkish mills' market return expected after eid

The Metal Bulletin index for HMS 1&2 (80:20) scrap delivered to Turkey remained flat as the post-Ramadan eid holiday approaches, Metal Bulletin sister title Steel First was told on Tuesday August 6.

Aleris raises aluminium auto sheet prices after Q2 loss

Downstream aluminium producer Aleris has raised the prices of its automotive body sheet products by up to 10%, after posting a net loss of $12 million in the second quarter, it said late last week.

DAILY SCRAP REPORT: Turkish mills to slow down bookings as eid approaches

The Metal Bulletin index for HMS 1&2 (80:20) scrap delivered to Turkey rose on Monday August 5, following news of a fresh cargo traded into the country.

Hong Kong court orders continuation of CMR liquidation

The Hong Kong Court of First Instance has said that the appointment of provisional liquidators for China Metal Recycling (CMR) will be continued until it makes a further order.

SA scrap export directive to come into force on September 16

South Africa’s scrap export directive, which is aimed at controlling exports of recycled ferrous and non-ferrous material, will come into effect on September 16, the minister of economic development, Ebrahim Patel, announced on August 2.

MB NON-FERROUS EUROPEAN SCRAP PRICE CHANGES

The following MB non-ferrous European free market scrap prices changed on Friday:

DAILY SCRAP REPORT: Prices slip following fresh cargoes

The Metal Bulletin index for HMS 1&2 (80:20) scrap delivered to Turkey fell on Friday August 2, when fresh trades were heard in the market.

Goldman Sachs’ swap offer 'no benefit to Novelis' – Madden

Novelis and other aluminium consumers will not benefit from Goldman Sachs’ offer to swap metal in warehouse queues with available material, as they have no metal in the queues, Nick Madden, senior vp and chief supply chain officer at Novelis, told Metal Bulletin.