Delicate condition. (Nonferrous).A "fragile and depressed" U.S. economy could lead to a pile-up pile·up or pile-up n. 1. Informal A serious collision usually involving several motor vehicles. 2. An accumulation: "the pile-up of unsold autos" of nonferrous inventories and reduced metals demand, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. one speaker at the late October Bureau of International Recycling (BIR BIR British Institute of Radiology BIR Bureau of Internal Revenue BIR Bureau of International Recycling BIR Baculovirus IAP Repeat BIR Biomedical Imaging Resource BIR Bureau of Intelligence and Research (US State Department) ) Round-Table in Brussels. In his summary of the world market situation, BIR Nonferrous Division vice president Salam Sharif of Sharif Metals Ltd. in the United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. referred to the sluggish U.S. economy and added that unimpressive growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. in Europe have resulted in "hand-to-mouth" consumption despite a shortage of scrap there. Also noteworthy, according to Sharif, were interruptions to India's scrap imports owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de customs declaration and tariff problems. Sharif sees China as the "main hope" for a base metals market revival. Speaking from the U.S. perspective, BIR Nonferrous Division senior vice president Robert Stein of Louis Padnos Iron & Metal Co., Holland, Mich., noted that China remains a destination for much U.S. scrap. China's appetite for scrap is "insatiable." he noted, although its preference for buying on price rather than on value had resulted in some smaller U.S. scrap dealers "no longer sorting No 1 and No 2 copper." Buying Average U.S. Refiners Buying Prices for No.2 Copper Scrap (cents per pounds) October 2001 52.29 November 53.68 December 54.50 January 2002 55.40 February 57.34 March 59.64 April 58.80 May 60.39 June 63.95 July 60.59 August 55.48 September 55.68 October 56.70 Note: Table made from bar graph. Source: American Metal Market |
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