Posted on 01/06/2009 in category Non-Ferrous

Non-Ferrous Metals Division world-wide monthly market update
by Robert Stein, Alter Trading (USA, President of the BIR Non-Ferrous Metals Division

New "bubble" beginning to form?

The economic engines of the developing world are beginning once again to drive demand for our products. After a very slow start to the year, prices have improved; shipments have increased; and most of the supply side of the trade reports good (not great) activity. Demand still far outweighs supply as industrial production in many countries languishes, yet many still feel that another "bubble" is beginning to form. Commodities prices seem to be reacting to equities markets, and for now at least, that's good news for the metals industry.

Since our last meeting in Düsseldorf, it feels like the world's changed forever. Major metals consumers, manufacturing companies, banks and other financial institutions have become insolvent. We are often left to wonder whom we should trust, and after the meltdown of last October there is every reason to increase diligence and scrutiny of our trading partners.

Seethe monthly world wide market update in our Members only section withreports from key countries.

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