Iraqi War Creates Uncertainty in Nonferrous Markets

In its monthly nonferrous report, the Bureau of International Recycling cited uncertainty as creating a problems for many nonferrous grades.

Marc Natan, president of BIR’s Nonferrous Metals Division, listed military, financial, political and economic tensions proving too strong for metals. “Today, there are as many opinions on the situation as there are scrap dealers. The increases, declines and periods of calm no longer make any sense.”

While there are a wide range of opinions, a representative from SimsMetals notes that China continues to be active in a host of nonferrous grades, including copper and brass. An additional factor is the tightness in aluminum scrap availability.

In other regions, markets are less sanguine. European markets are seeing some bearish markets as economies throughout the continent struggle. One saving grace, several nonferrous commentators note, is that nonferrous scrap supplies have decreased, leaving some balance in the market.

In the Middle East, a similar scenario is taking hold. Uncertainty continues to be the operative word as many processors rein in activity as consumer spending declines.