November 12 2012 Copper Transformers at $.16-.30 per pound in prices from Rockaway Recycling.
In other news:
LATEST SUPPLY/DEMAND ROUNDUP OF METAL COATED SHEET FROM MEPS
MEPS predicts that the output of metal coated sheet in the EU will contract by 3.4 percent in the present twelve month period. Following solid growth last year, 2012 has been challenging for many European car makers. Germany’s vehicle sector, which had been relatively active, has started to weaken as the economic situation worsens. Automotive and component manufacturers have started to reduce output. Domestic car sales in the south of the EU are depressed and export demand has waned. The outlook for 2013 is poor and it could be 2014 before a noticeable pickup is witnessed.
Auto demand has been firm so far this year in Japan. The country has also benefited from recovering activity at car and component manufacturers in Thailand following the floods twelve months ago. However, mills are preparing for a slump in domestic demand now that government subsidies for the purchase of “environmentally friendly” vehicles have come to an end.
South Korean steelmakers are pushing export sales because of lacklustre domestic consumption. In China, production is expected to record strong growth again in 2012. Light vehicle sales are reasonable.
The implementation of tax cuts by the Brazilian government has helped to reduce inventories at auto makers and dealerships. This should boost the prospects of the vehicle manufacturing sector which has seen production fall so far this year. Demand for coated steel from the construction industry is firm. Output is forecast to rise by a double-digit percentage figure in 2012.
In the US, metal coated sheet has been the best performing product category this year. MEPS foresees consumption in 2012 rising by almost 14 percent, year-on-year. The automotive industry is the driver for the growth. This sector has benefited from improving consumer confidence, increased availability of finance and the generally recovering economy.