Speakers at recently concluded BIR Fall meeting take decidedly mixed short term outlook for non ferrous scrap. During the recently concluded BIR Autumn Convention, a host of speakers conveyed quite divergent outlooks for the non ferrous market in the short term, although most noted that longer term markets should improve.
Mr Robert Stein president of the non ferrous division said that there is more optimism in regards to the market. He added that "We've seen the worst of what the world has to give us. Although some companies have vanished and many have lost a lot of money, the industry for the most part is on a far better course than we were last autumn.
Mr Stein noted that "As restocking of finished non-ferrous products takes place, as the automotive industries around the world improve, as delayed construction projects are rejuvenated and people go back to their jobs, I think we can look forward to sustainable improvement in our businesses."
However, he also identified more caution in the marketplace as well as increased recognition among buyers that sellers require financial performance guarantees.
Guest speaker Mr Michael Widmer metals strategist with Banc of America Securities Merrill Lynch in the UK was more bullish in his outlook for next year. He looked at the expected relatively healthy rebound in GDP growth and an improvement in metals demand next year, not least because many government stimulus packages will roll over into 2010. He ventured an average copper price for next year of USD 7,000 per tonne.
In a review of recent BIR International Trade Council activities, Chairman Robert Voss of Voss International in the UK outlined the efforts made by BIR, with the help of BIR ambassador in India Mr Ikbal Nathani, to ensure a smooth flow of scrap into India in response to the country's proposed import measures.
Mr Voss also indicated that, for companies wishing to register to supply scrap to China, the country's General Administration of Quality Supervision, Inspection and Quarantine wants all new applicants to be certified to ISO 9001 or equivalent. However, a recent communications from AQSIQ insinuates that this requirement might not apply to those companies looking to renew their registrations.
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