Ready to rumble? (Nonferrous).Throughout the ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which scrap pricing downturn, veterans remained certain that the price would eventually rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective , and many certainly changed their buying and selling patterns predicated upon that idea. Certainly, many of those same people--and many others--are doing the same with red metals. It has been a long time since scrap copper dealers saw pricing from buyers that consistently stayed above 75 or even cents per pound. It is unclear whether this type of pricing is the kind of trigger that would bring cloistered copper out into the open, but buyers and sellers won't know for certain until a rebound happens. Some dealers are claiming to see signs that the long awaited a·wait v. a·wait·ed, a·wait·ing, a·waits v.tr. 1. a. To wait for. See Synonyms at expect. b. price rebound could be around the corner. "Right now, with the scarcity Scarcity The basic economic problem which arises from people having unlimited wants while there are and always will be limited resources. Because of scarcity, various economic decisions must be made to allocate resources efficiently. of nonferrous non·fer·rous adj. 1. Not composed of or containing iron. 2. Of or relating to metals other than iron. nonferrous Adjective 1. scrap, I could take phone calls 24 hours a day for guys trying to cover orders," says one East Coast dealer. Unfortunately in the scrap markets, scarcity has not always triggered instant price increases, but it could be starting a modest trend upwards. Both industry analysts and dealers who trade every day see a resolution to overhanging foreign policy crises as the trigger that met set a manufacturing resurgence re·sur·gence n. 1. A continuing after interruption; a renewal. 2. A restoration to use, acceptance, activity, or vigor; a revival. back in motion. The East Coast dealer says of the activity of both generators and consuming facilities, "I think right now, a lot of them have held back, waiting to see what happens in the Middle East. If that has a positive resolution soon, I think a lot of people who have business expansion plans on hold will start being active again." Such a bump in demand might well help supply and demand factors collide col·lide intr.v. col·lid·ed, col·lid·ing, col·lides 1. To come together with violent, direct impact. 2. and turn into higher prices. "My play is there is a shortage of material: It's a tough winter and there is not much production scrap being produced," notes the dealer. "There should be a window of opportunity before the production scrap starts being generated when there will be demand but no scrap--thus, a price spike A burst of extra voltage in a power line that lasts only a few nanoseconds. See power surge, power swell, sag and surge suppression. (jargon) spike - To defeat a selection mechanism by introducing a (sometimes temporary) device that forces a specific result. ," he predicts. Average U.S. Refiners Buying Prices for No. 2 Copper Scrap (per pound, monthly average) Jan 02 55.40 cents Feb 57.34 cents Mar 59.64 cents Apr 58.80 cents May 60.39 cents June 63.95 cents July 60.59 cents Aug 55.48 cents Sept 55.68 cents Oct 56.70 cents Nov 60.50 cents Dec 61.33 cents Jan 03 62.38 cents Source: American Metal Market Note: Table made from bar graph. |
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