BIR releases Non-Ferrous World Mirror-March 2015

The Bureau of International Recycling (BIR) has released the Non-Ferrous World Mirror for the month of March this year.

India reduced the Special Additional Duty on imports of copper , brass and aluminium from 4% to 2%. The announcement was made during the budget presented in Parliament recently. However, the inverted duty structure on imports of finished and semi-finished goods from FTA nations was not addressed.

The non-ferrous volumes traded during the first quarter indicate a healthier second quarter in the Middle East region. However, the market slowed during the month of March when matched with the previous months. Shortage of raw material has led to higher scrap prices in South Africa. Meanwhile, Zorba production continued to drop in the US. The domestic shredders are reported to be running at 30-40% of their capacities on account of difficulties in sourcing feedstock.

Scrap demand has shown improvement in Mexico, amidst high scrap prices. The increased demand from automotive industry has led to high production rates by aluminium smelters in the country. Meantime, the prices of ADC12 aluminium alloy for April-June deliveries fell by $70-80 per ton in Japan. Trading conditions have shown significant improvements in New Zealand and Australia. France’s scrap sector too reported renewed buying activity, despite low prices.

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