BIR Issues Final Mirror Report for Year

In its last report of the year, the Bureau of International Recycling’s World Mirror forecasts steady markets for nonferrous metals.

Published December 20, 2005

In the wrap up to a strong year for many non-ferrous metals, a host of scrap recyclers continue to talk about the continued strength of the scrap copper market. In his opening remarks Marc Natan, president of the Non-Ferrous Division for the BIR, says that the earlier expectation that nonferrous metals would cool off as the year came to an end did not transpire. In fact, “The still numerous pessimists got it wrong when predicting a fall in raw material prices toward the end of the year – among them not only a well-respected Chinese representative, but also a large number of major international grading groups which sold copper forward.”

 

While being wrong in the short term, Natan does caution that being wrong in the short term doesn’t mean the predictions will be forever wrong. In fact, he questions where “it is possible to defy the fundamentals forever.”

 

In the regional wrap-ups, representatives from China, India, the Far East, various European countries, the Middle East, South Africa and the United States all reiterate the continued strength in scrap copper.

 

While copper continues to be the standard bearer for non-ferrous traders, aluminum scrap also is a non-ferrous grade that has been on an upward swing over the past several months.

 

Members of the BIR can read the full report by clicking on the following link – www.bir.org.

Latest from Recycling Today

More from Recycling Today

Tenaris adds capacity downstream from Pennsylvania EAF mill

BGL promotes investment bankers to managing director

Comstock Metals continues to expand its operations

Recycling Leadership Council forms to modernize US recycling system for plastics

Hyundai announces chief operating officer

Reconomy acquires majority stake in LiBCycle