All posts tagged: China

Iron Ore Bludgeoned to Record Low in Asia on China Steel Concern

From: Iron Ore Bludgeoned to Record Low in Asia on China Steel Concern By: Jasmine Ng Iron ore contracts in Asia slumped to records amid speculation that mills in China are reining in steel production as they battle losses, slumping prices and tighter credit, hurting demand for the raw material that’s mainly shipped from Australia and

Market & Metals

Scrap Metal Market Watch: November 2015

Scrap Metal Market Trends Scrap metal prices for crushed auto bodies have declined. We’ve seen a decrease of 3.39% over the past month, a decline of 48.67% over the past year, and a decline of 59.51% over the past two years. This trend may be observed below: Chart | Scrap Metal Market Trends

China Steel Prices Demand Decline

Bloomberg: China Steel Head Says Demand Slumping at Unprecedented Speed

From: China Steel Head Says Demand Slumping at Unprecedented Speed (Bloomberg) By Bloomberg News If anyone doubted the magnitude of the crisis facing the world’s largest steel industry, listening to Zhu Jimin would put them right, fast. Demand is collapsing along with prices, banks are tightening lending and losses are stacking up, the deputy head of the

Market & Metals

Scrap Metal Market Watch: October 2015

Scrap Metal Market Trends Scrap metal prices for crushed auto bodies have remained steady from last month. We’ve seen no change over the previous month, a decrease of 50.28% over the past year, and a decline by 58.29% over the past two years. This trend may be observed below: Chart | Scrap Metal Market Trends

Market & Metals

Scrap Metal Market Watch: September 2015

Scrap Metal Market Trends Scrap metal prices for crushed auto bodies have declined. We’ve seen a decrease of 8.97% over the past month, a decline of 51.07% over the past year, and a decline of 59.41% over the past two years. This trend may be observed below: Chart | Scrap Metal Market Trends

Aluminum and Copper Plummet

A hybrid of economic forces continues to reduce already depressed prices of metals, including gold, steel, copper, and now aluminum. “China’s stock market crashes again as panicking sellers lose faith” reads today’s headline, underscoring the gravity of weak demand while giving speculators cause to lower oil futures below $50 per barrel.1 Mining production has increased

Metals Tumble Following Greece, China Announcements

Greece Vote Against Austerity Measures Prices of copper and nickel dropped 4.2% and 3.3%1, respectively, following news of Greece’s vote against austerity measures and recent moves by China to prevent a stock-market collapse. The resounding “no” vote in Greece has signaled a potential exit from the euro, prompting market speculators to predict a significant slowdown

Chinese Farming Duo Transforms Scrap Metal into Art

Yu Zhilin, a farmer from Hengyang, China has capitalized on the popularity of the Transformers movie franchise in China with the aid of his son, Yu Lingyun. This father/son team, using only their ingenuity(as well as some instructions found while traversing the internet), and scrap auto parts are making waves globally for creating statues of Transformers’ mainstays Optimus Prime and

Analyzing China’s Slowdown

While the world reacts to China’s economic slowdown, the tone among the country’s top government officials remains calm. That’s because the growth rate (previously 10%, predicted to drop to 6.3% in 2016) has been intentionally slowed since 2012. A report published that year by the International Monetary Fund suggested that while China’s capital-to-output ratio was

scrap metal buyers

Groundhog Day for China’s Scrap Metal Buyers

“Too many other buyers. I can tell other buyers were here yesterday,” Johnson Zeng told Bloomberg. “There wasn’t as much scrap as usual.” For Zeng and other Chinese scrap metal buyers who purchase millions of pounds of metal in the U.S., it’s a seller’s market; with increasing competition among buyers, scrap yards can afford to