Brussels — According to Robert Stein, President of the BIR Non-Ferrous Metals Division, extraneous dynamics continue to influence metals markets and the flow of scrap metal from source to furnace. Prices for metals fell victim to new-found unrest in the world, reminiscent – at this time of writing, at least – of the Cold War rhetoric that we thought was long past. Emerging markets are faced with difficult times for economic factors far beyond their borders with the dilemma of a lack of new projects being inaugurated, decline of their currencies on international markets, and the inability to raise interest rates in defense of their currencies at risk of stifling domestic economic growth.
These factors, coupled with their short- and long-term implications, make predicting our business difficult. „I suppose that’s what makes our industry a source of constant mystique and conjecture“, Robert Stein comments .
The months to follow, typically representing the highest demand period for metals, are shrouded within the backdrop of continued uncertainty.
More information is expected to be presented at the BIR World Convention in Miami, targeting issues that are pertinent and focused on one of the developing regions of the world – Latin America. „We look forward to an interesting gathering and hope that you will join us“, Robert Stein added.
Source: Bureau of International Recycling (BIR)