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Europe non ferrous scrap market report 2012

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by - 5/10/2012 5847 Views

Non-ferrous European scrap markets appear to be positioning up quite well ahead of spring, apart from some of the European Union Members countries

Hydro-aluminium-Norway.jpg

Non-ferrous European scrap markets appear to be positioning up quite well ahead of spring, apart from some of the European Union Members countries such as Greece, Spain, Portugal and Italy. Since, these countries are currently facing considerable problems with the economies; although they are holding their current price levels instead are even seeing modest improvement in pricing. Reports reveale that strong demand for Non ferrous scrap from many Western European Countries is helping to keep the import of aluminum steady throughout the continent and orders from France, Germany and the United Kingdom have been coming in fairly strong pace to Europe.

Even though, the demand is healthy, some consumers are increasing the premiums to their suppliers. Reports revealed that there was slight increase by $10/ton from $180 to $190 at some port in February.

These holding up prices and improved demand made Europe to be an overcapacity in the global market. Thus, a major player of aluminum production announces a cut in their productions, may be this factor may create more optimistic outlook in the metal market.

Hydro, a large aluminum producer with headquarters in Norway have recently announced that it has cut its production in response to the oversupply situation at many of its facilitates and it plans to cut production by 60,000 at Kurri Kurri smelter in Australia. Also, it has reduced output from 230,000 tonnes to 50,000 tonnes at its Neuss plant in Germany.

Category : General

Tags : General Scrap, Metal Scrap,


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