Anybody's guess.Markets for nonferrous non·fer·rous adj. 1. Not composed of or containing iron. 2. Of or relating to metals other than iron. nonferrous Adjective 1. grades continue to defy de·fy tr.v. de·fied, de·fy·ing, de·fies 1. a. To oppose or resist with boldness and assurance: defied the blockade by sailing straight through it. b. prognosticators, analysts and scrap dealers scrap dealer n → chatarrero/a scrap dealer n → marchand m de ferraille scrap dealer scrap n → . Even as prices have increased sharply during the past several months, the direction of the market is still uncertain. In contacting several larger handlers handlers persons involved in the handling of, for example, circus animals. Includes grooms, milkers, herdsmen, strappers. Used mostly in referring to persons handling animals for show or auction. of nonferrous scrap, many say they have quit trying to comprehend the market and instead are focused on keeping a tight rein on the movement of material. The price of copper scrap, which crested above the $2.50-per-pound level, has seen some extremely sharp declines followed by sharp upswings, sometimes on the same day. Some handlers of the material are blaming the pricing volatility on fund managers and "new money," who find commodity trading to be a viable investment tool and are increasingly responsible for the movement of copper scrap. Aluminum prices, which have been moving upward throughout the past year, have been trending downward during the second half of May and through the first half of June. Although still at relatively high prices, the lack of clarity about where the market is moving is creating anxiety in the market. Fundamentally, copper markets remain strong domestically and offshore. One large handler A software routine that performs a particular task. It often refers to a routine that "handles" an exception of some kind, such as an error, but it can refer to mainstream processes as well. The term is typically used in operating systems and other system software. of copper scrap says that manic man·ic adj. Relating to, affected by, or resembling mania. buying by China has abated Abated, an ancient technical term applied in masonry and metal work to those portions which are sunk beneath the surface, as in inscriptions where the ground is sunk round the letters so as to leave the letters or ornament in relief. From 1911 Encyclopædia Britannica a bit, which is helping domestic processors to obtain more material. Throughout the past year, as Chinese buyers sought greater amounts of copper scrap to fulfill their needs, they were offering higher process for wire than domestic wire choppers could hope to pay. The result was less wire available for domestic buyers. However, with Chinese companies Chinese owned companies can be defined as enterprises within mainland China, Hong Kong, Macau and the Republic of China (Taiwan):
Aluminum scrap prices also have been trending downward throughout the first half of June. However, as the market for nonferrous metals has become more volatile, some recyclers say that it is hard to determine whether there is a particular trend taking place. Several scrap recyclers say that a number of consumers have indicated that they were pulling back their orders for June and/or July. Meanwhile, scrap recyclers who loaded up on aluminum scrap in anticipation of further price increases were caught with higher inventories. This helped to soften markets for aluminum scrap. [GRAPHIC OMITTED] The leading factor creating some ripples in the nonferrous market has been indications that Chinese buyers, who have helped drive prices for many grades to record highs, are becoming more selective with their purchases. In the past, the country's insatiable demand for nonferrous grades resulted in Chinese buyers paying far greater prices for scrap metals than domestic buyers were able to pay. However, as these same Chinese buyers are eschewing some lower grades of copper and aluminum scrap, supplies have loosened up a bit. Fund traders, who also have become more active participants in the commodity trading environment during the past several years, also could be reducing their involvement in the market. While some scrap recyclers see the possibility of a softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. metal market, perhaps even a short-term stable plateau plateau, elevated, level or nearly level portion of the earth's surface, larger in summit area than a mountain and bounded on at least one side by steep slopes, occurring on land or in oceans. , one school of thought suggests that fund managers may look to put new money in other investment vehicles. As a result, the nonferrous markets could return to being driven by supply and demand conditions within the particular markets rather than by short-term financial positions. Adding to these concerns, some scrap dealers report that payments for their materials, whether shipped domestically or offshore, are being stretched out from 30 days to 45 days or longer in some cases. With prices for aluminum and copper scrap far greater than traditional record prices, the extension of payments adds strain to the financial well being of many scrap processors, especially those that do not have deep pockets. One handler of nonferrous scrap in the Western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century says that the risk factor is high right now. "No one likes it with the market so uncertain. You have to keep higher margins with all the risks," he says. (Additional news about nonferrous scrap, including breaking news and consuming industry reports, is available online at www.RecyclingToday.com.) |
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