06 AUGUST 2011alu.com
US aluminum scrap buyers brace for higher twitch tags as Chinese chase zorba
Edited by : AL CIRCLE
1 min read
Nonferrous auto shred prices could be heading for an uptick after renewed Chinese interest in the lower-grade zorba shred has sent prices up by between 3 and 6 cents per pound, depending on region.
East Coast sources said zorba prices are about 5 to 6 cents per pound higher than a month ago, while West Coast traders are reporting increases of up to 3 cents per pound. Market participants said Chinese buyers eyeing red metal content in zorba offered more aggressive prices last week. That is expected to affect the price of twitch, a higher grade of nonferrous auto shred.
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