Friday, January 9, 2009

Metal Market Continues to Weaken

E-scrap processors can expect continued weakness in demand and pricing for metals and metal-containing scrap recovered from obsolete electronics.

Copper is a perfect example. Buyers of copper cathode saw prices fall from a high of nearly $4 per pound last spring to about $1.50 per pound by the end of 2008. Prices in December 2008, alone, dropped 20 percent to the lowest level in more than four years. Market players cite weak global demand and high inventories as the causes of the price swoon.
The picture is expected to remain ugly for the coming months. For instance, prices of futures contracts on the London Metal Exchange show no improvement over today's price.


Source: E-Scrap News, Jan. 9, 2009