NON-FERROUS
Gloomier outlook from
scrap metal traders
‘Today marks a milestone on Speira’s
transformation journey,’ says ceo Einar
Glomnes. ‘We are combining a lead-
ing European aluminium recycling
company with one of the largest alu-
minium rolling and recycling compa-
nies on the continent.’
A separate acquisition by Aurea from
Speira of facilities in Sainte-
Menehould, France, and Swansea, UK,
as required by the European
Commission, is expected to take place
in early in Q2.
SIMS’ US EXPANSION
In March, Sims Metal acquire the com-
mercial and operating assets of
Pennsylvania-based Northeast Metal
Traders (NEMT). NEMT, which has a
single site, is one of the largest cop-
per recyclers in the US and can pro-
cess and sell approximately 60 000
tonnes of non-ferrous metal per year.
‘We are very excited about this bolt-
93recyclinginternational.com | May/June | 2023
on acquisition and the opportunities it
opens up for the Sims Metal North
America business,’ said Alistair Field,
Sims’ md and ceo. ‘Northeast brings
commercial and operating synergies,
as well as provides us with a signifi-
NEW LME HEADACHE OVER NICKEL
‘IRREGULARITIES’
The troubled trade in nickel through the London Metal Exchange suffered a
further setback in March with reports that some consignments delivered
from an LME approved warehouse contained nothing but stones. In a state-
ment, LME said: ‘The Exchange has received information that a number of
physical nickel shipments, out of one specific facility of an LME-licensed
warehouse operator, have been subject to such irregularities’.
These relate to bagged nickel briquettes and nine warrants (conferring own-
ership of metals stored in LME warehouses) which were found not to con-
form to contract specifications. The suggestion that the bags in question
contained stones and were at a warehouse owned by Access World in
Rotterdam came from Bloomberg. Access World told the agency it was
unable to comment due to the investigations.
The development comes a month after Trafigura said it was the victim of ‘a
systematic fraud’ by which more than 1 000 containers were allegedly
wrongly bought as nickel consignments. A year ago, trading in nickel on the
LME was suspended when prices shot up overnight.
A U T H O R Robin Latchem
92-93-94-95_manon-ferrous.indd 93 03-05-2023 17:08
