Nonferrous, Italy

There was a lot of activity going on at the BIR Convention in Singapore. Chinese and Indian buyers were interested in buying at cheap prices. Copper and other metals were picking up very strongly and there was a feeling that prices were strong.

At the end of the day, I don’t think much business was done because of people holding material and people not wanting to sell because of prices going up. Some Koreans were looking at aluminum scrap. Copper and brasses were always in demand.

Prices were not that great, but unless people were desperate for money they sold at those levels.  Had they waited one or two more days, they would have received more. At the moment there is demand, but people are holding on to material. I am sure they will start selling in June before they go on vacations.

There were people from all over the place at the BIR Convention -- 74 countries were represented. It just gets wider and wider and bigger and bigger.

Fernando Duranti can be contacted at fernandoduranti@leghemetalli.it