From: WSJ: In Scrap-Metal Market, Buyers Have to Tell Darth From Vader By: John W. Miller When Randy Goodman calls a customer in China, the 51-year-old scrap trader sometimes asks: Do you want Elmo, Shelmo or Zorba? The world’s $100 billion trade in junked cars, refrigerators and other metallic goods hinges on 100 or so short,
From: Saudi Arabia Hurries to Reinvent Itself for an Era of Low Oil By: Ben Holland Saudi Arabia, one of the most tradition-bound societies on the planet, where family structure and tribal patriarchy differ little from a century ago, is suddenly in a hurry. It has done more in the past week than in most years.
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
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
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
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
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
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
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
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