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quarters but they are difficult because
many market participants cannot pre-
dict how their order situation will devel-
op. Caution is the word and it can be
assumed that some of these negotia-
tions will drag on for a long time.
Prices for primary aluminium 99.7 were
around US$ 2 440 per tonne at the
beginning of November. Wire scrap
traded between US$ 1 600 and US$ 1
700 per tonne, extrusions scrap from
US$ 1 670 to 1 780 and turnings
achieved US$ 715 – 840.
COPPER
Copper is also currently with fixed pric-
es on the LME. While the red metal was
CONTRIBUTED BY
* Ralf Schmitz, German non-ferrous
trade association VDM (Europe)
* Robin Latchem
non-ferrous
71recyclinginternational.com | November/December | 2020
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valued at US$ 5 850 a year ago in
London, in early November it was at
US$ 6 725. Analysts emphasise that
fixed LME quotations are not primarily
based on fundamental trading princi-
ples but on the involvement of invest-
ment funds. Given the many troubled
areas in the world, raw materials are a
popular investment.
Even so, demand for copper has
improved with traders reporting it had
been picking up again since the begin-
ning of October. The uncertainty
resulting from the second wave of
coronavirus is being offset by recovery
in the China’s economy and strong
business there. Demand for copper
and copper products has improved,
especially in Western European coun-
tries.
Bright wire scrap in early November
was trading between US$ 6 225 and
US$ 6 440 per tonne, heavy copper
scrap was worth US$ 5 650 to US$ 5
800 per tonne. Copper granules 1a
traded between US$ 6 270 and US$ 6
550 while non-alloyed bright scrap 1
fetched US$ 6 070 to US$ 6 280 per
tonne.
ZINC
Zinc is also currently quoted at a com-
paratively high level, the price for spe-
cial high grade in London at the time of
writing was at US$ 2 536.50 per tonne.
On the other hand, day-to-day business
was quiet with consumers ordering only
for immediate needs. Due to the high
price level, many buyers see no reason
to stock up.
Overall, the zinc market is well supplied.
The International Zinc Study Group
expects a surplus of 620 000 tonnes for
the current year and, in the opinion of
an analyst at Commerzbank, there is no
fundamental reason for the current high
price level. Special high grade zinc sold
around US$ 2 700 per tonne on the
European market at the beginning of
November while the prices for old zinc
scrap ranged from US$ 1920 to US$ 1
990 per tonne.
LEAD AND NICKEL
The London quotation for lead was last
at US$ 1 790 per tonne, with new soft
lead earning around US$ 1 950 per
tonne on the open market. The price
for soft lead was between US$ 1 500
and US$ 1 640. Nickel was quoted on
the LME at US$ 15 148 per tonne and
nickel cathodes fetched around US$ 13
480. Scrap prices ranged from US$ 1
100 to US$ 1 250 for V2A scrap and
from US$ 1 590 to US$ 1 770 for V4A
scrap. Lead and nickel traders reported
‘rather calm’ markets in the past few
weeks.
68-69-70-71_manonferrous.indd 71 11-11-20 14:28
