Monday, June 30, 2014

Today's Scrap Metal Prices per pound in Raleigh, NC for Copper, Aluminum, Junk Cars-A great Salvage Yard, Junk Yard, Durham, NC, Cary, NC

Today's Scrap Metal
Recycling Prices Per Pound
In Raleigh, NC, Cary, NC, Durham, NC
Recycling Prices- 6/30/14
For Copper, Aluminum, Steel
SCRAP METAL BUYERS!
Raleigh Recycling Center
Junk Yard, Salvage Yard
919-828-5426
 
-Great Prices
-Outstanding Service
-Industrial Pick Up and Public Drop off
-11 Digital Scales to get you in and out-FAST!
-Junk Cars-We TOW, or you Drive in, or Tow in


Scrap metal prices right here in Raleigh, NC are mixed this week with Copper being UP!!    
Raleigh Metal Recycling here in Raleigh, NC, is where always do our best to pay you the most for scrap metal every day.  We communicate 24/7 with you, our prices to make it easy for you. When you call our phone number 919-828-5426 and press 2, you will hear a recording with "Today's prices" where we buy and sell scrap metal at great prices per pound.  This is for:
 
-Steel Recycling
-Cast Iron Recycling
-Copper Recycling
-Yellow Brass Recycling
-Red Brass Recycling
-Aluminum Recycling
-Aluminum Can Recycling
-Appliance Recycling
-Computer Recycling
-Electronics Recycling
-Junk Cars
-Salvage Cars
-Stainless Steel Recycling
-Battery Recycling
-Cardboard Recycling
-and more.



 NC Scrap Metal is always welcome at Raleigh Recycling
We continue to have a three part focus at Raleigh Recycling
1) Public (Drop off)-or we pick up Junk Cars
2) Industrial/Commercial customers
3) Demolition Customers

If you are a large Commercial, Industrial or Demolition company, call me, Greg at 919-828-5426 to discuss prices.  We can give you prices for scrap metal, Cardboard, Copper, Electronics, Computers and more.

Or for just Appliances Disposal, Appliance Pick Up or Junk Metal removal, just call Kenny at 919-348-0545!
 
An important part of our company is that we have 11 digital, NC State certified scales that we use to service our Industrial and Commercial Customers.  Almost double our closest competitor, meaning we get you in and out fast and with accuracy!  We are not just a Junk Yard or a Salvage Yard, or even a Scrap Yard.  We are a major Raleigh NC, Recycling Center.

Importantly, we sell direct to Steel mills or divisions of steel mills, not to middle men who take a commission, so we pass that savings on to you!  We even ship our steel out mostly by rail car (not trucks) to save money in shipping, which we pass on to you

JUNK CARS, Salvage Cars

1) WE TOW-JUNK CAR-JUNK CAR REMOVAL
-Junk Car Pick Up!-Get Cash on the spot
-Sell your junk car for cash
-Any condition, running or not running
-Keys or no keys, engine or no engine
-Call 919-758-3764 for:

 JUNK CAR REMOVAL, Junk Car Towing

2) Drive it in, or you tow it in!
-Get Cash on the spot
-Any condition
-In and out fast!
-Sell your junk car for cash
Come to us at:
 
Raleigh Metal Recycling
2310 Garner Road
Raleigh, NC 27610
Telephone- 919-828-5426

If you want to Junk my car for cash, and get cash for my junk car, call or come see us!


When in Raleigh, Durham, Apex, Butner, Cary, Chapel Hill, Clayton, Dunn, Garner, Henderson, Knightdale, Lumberton, Oxford, Mebane, Morrisville, Roxboro, Sanford, Smithfield, Wake Forest, Burlington, Fayetteville, Fuquay-Varina, come see us at:

Raleigh Recycling
2310 Garner Rd.
Raleigh, NC 27610

Tel 919-828-5426
www.raleighscrapmetalrecycling.com


When in Goldsboro, LaGrange, Kinston, Mt. Olive, Smithfield, New Bern, come see us at:

Goldsboro Recycling
801 N. John St.
Goldsboro, NC 27530

Tel: 919-731-5600
www.goldsboroscrapmetalrecycling.com 

When in Wilson, NC, Tarboro, NC, Rocky Mount, NC, come see us at:

Wilson Scrap Metal Recycling J & G
404 Maury Road S
Wilson, NC, 27892
Tel 252-243 3586

www.wilsonncscrapmetalrecyclingjg.com
 
Greg Brown
gbrown@raleighscrapmetalrecycling.com
Tel 919-828-5426


Links

Scrap Metal Recycling

Junk Car Sell for cash, Junk Car Removal
Appliance Pick Up, Appliance recycling

Thursday, June 26, 2014

Raleigh NC Scrap Metal Recycling Prices Per pound for Copper, Aluminum, Steel - a Great Salvage, Scrap Yard, 27610

Raleigh NC
Scrap Metal Recycling
Copper, Aluminum, Steel and More
Raleigh Metal Recycling
FOR GREAT PRICES CALL:
919-828-5426
 
Raleigh Metal Recycling in Raleigh, NC is the largest and highest Full Service Scrap Metal Operation in the greater Raleigh, NC area.  We have a fleet of 15 drivers on our staff, along with our Goldsboro operation 47 miles away, to support you and your projects.  This would be for Demolition Project or Industrial Plants.  Durham, NC, Cary, NC, Apex, NC are markets we service daily.  Importantly we have great service and great scrap metal prices for copper and more.
 
We have every type of Roll off box, open top Trailer or Van trailer that you would ever need.  Just call us at 919-828-5426 and we will support your needs.
 
We are not just a Junk Yard, Scrap Yard or even a Salvage Yard, we are the best in what a Raleigh Recycling Center should be.  For the best service, we have almost twice as many DIGITAL scales as our nearest competitor. 
 
As for Junk Cars and Salvage Cars, you have two options
 
 
1) We Tow! Call 919-758-3764
Junk Car removal for cash, junk my car for cash at Raleigh Metal Recycling!

or

2) Drive it in, Tow it in!
 
Raleigh Metal Recycling
2310 Garner Road,
Raleigh, NC, 27610
 
 
If you want to junk your car with no title for cash, you can sell your car to us, as long as it is 10 model years or older. 
 
We also can arrange for Appliance Pick up.  For one unit only $20, if two more FREE! in the Raleigh area.  City of Raleigh Appliance Pick Up at its best!  Great way to remove old appliances, Appliance Recycling.  Call 919-348-0545
 
Call us or come see us AT
RALEIGH METAL RECYCLING
2310 GARNER ROAD
RALEIGH, NC, 27610
 
Greg Brown
919-828-5426
 
As for some information in the market, see comments we have been sent:
 
PBC & the Fed: We started the week with the Peoples Bank of China lowered their reserve ratio requirement by 50 basis points early last week and reaffirmed a 7.5% growth rate for the rest of this year.
 
Then the Fed cut bond purchases by an additional $10 billion and will keep short term interest rates near zero until sometime next year. Fed chair sees economic activity rebounding in the current quarter and dismissed as “noisy” recent increases in inflation, keeping with their long term view of economic activity and not having any knee jerk reaction to recent data. Fed officials predict the benchmark federal funds rate would hit 1.2% by the end of 2015 and 2.5% by the end of 2016, up from the previous projection.
 
The Chinese investigation into Qingdao continues with customs official taking longer to clear metal imports through customs. What used to take 7 days now takes up to a month, iron ore imports are down 7% and copper down 16% from a month prior. The premium over spot copper for immediate delivery into Shanghai warehouses has dropped from $185 per ton in December to $70, indicating more want to sell rather than hold stocks. While aluminum has enjoyed a sustained rally, copper remains near recent lows. One trader said there is downside risk while no real upside in the near future.

As the last week of June is upon us, expect trading to stagnate as we move into the summer doldrums; traders take holiday for the summer and trading volumes remain low.
 

 
 
 



Saturday, June 21, 2014

Appliance Pick up, City of Raleigh, NC, Old Appliance Removal, Disposal, 27610, 27603, 27604, 27606, 27607, 27609, 27612, 27613, 27615, 27616, Old Ap

Appliance Pick Up
Appliance Recycling
Appliance Removal
Appliance Disposal

Old Appliance Removal
 In Raleigh, NC

919-828-5426
 
Appliance Pick up, Appliance Removal, Appliance Disposal, Old Applinace Removal, and Appliance Recycling is a service we provide here in Raleigh, NC, Apex and more.

Just call Kenny at 919-348-0545
for pick up!

and he will come get your appliances and in most cases not charge you. If you have two or more large appliances the pickup is free! Free Appliance Pick Up! If just one large unit and nothing else the fee is just about $20. One large unit and other things—see below, again, Free Appliance Pick up! Of course large appliances are things like washing machines, dryers, freezers and refrigerators. While there, Kenny can pick up other things like the below. We will pick up all your Junk Metal, Scrap Metal and do it fast for you! So when it comes to Appliance Pick Up, Appliance Removal and Appliance Disposal and Appliance Recycling, call Kenny at 919-348-0545. The best service in Raleigh North Carolina!
  • Lawnmowers
  • AC units
  • Hot Water Heaters
  • Microwaves
  • BBQ Grills
  • Car batteries
  • Steel sinks
  • Bath Tubs
  • Lawn Furniture
  • Car Parts
  • Car Rims
  • Computers
  • Bicycles
  • Weed whackers
  • Blowers
  • Edgers

And as said

  • Washers
  • Freezers
  • Dishwashers
  • Dryers
  • Hot water heaters
Old refrigerator giving you a hard time? Is a handyman quoting you at several hundred dollars to simply replace a bad compressor?

Bring it to us for Cash!

OR

Pick-Up your appliance!
Call Kenny at 919-348-0545 for Appliance Removal!
Protect the wallet and don't waste your money on something that might well break again, especially if we're talkin' about a fridge from the '90s! Instead, haul your load to 2310 Garner Rd., just south of Downtown Raleigh, NC, 27610 and get some money for that dilapidated appliance, whether it be an old refrigerator, microwave, dishwasher, dryer, washing machine, ice chest, or some other metal appliance, even if there's some plastic or glass on it. You can get rid of appliances six days a week at Raleigh Recycling!  We are great at Appliance Recycling.  We'll have you in and out, and our process is designed to make getting paid for doing some scrap metal recycling in the great state of North Carolina more efficient, exhilarating, rewarding, than ever before!  Remember, you can come from Cary, Durham, Clayton and Wake Forest to drop off your old refrigerator, too! We're not too far away from either of those places!
To get around expensive repair costs, when it comes right down to it, buying a new or slightly used appliance is oftentimes the best choice a consumer can make. Getting an extra $20 or $30 (prices are currently $8.50 per 100 pounds) or more (1000 pounds = about $85.00) for scrapping that old refrigerator makes a lot of sense in such a case.  OK, and for those that hate math, 8.5  cents a pound.
All you have to do is haul that old fridge down to 2310 Garner Rd., near Downtown Raleigh, NC, 27610 and VOILA! Go around the left corner of the building.

Old refrigerator delivery area. Bring it on in!

You'll see the truck scales right in front of you. Go onto the scale that's closest to the building, and drive up to the second scale booth that will be on your left. One of our scale masters will inform you of all you need to keep in mind upon driving into the yard to do some good 'ole fashioned scrap recycling!  Raleigh Scrap Metal Recycling.  We have great scrap metal prices!
  • An old refrigerator isn't the only thing you can bring us!

    And also, perhaps you'd like to bring in some steel, too, since that old refrigerator might be lonesome in the back of the pickup. Pieces of steel make for great items to bring through our truck scales, too. We buy loads of prepared steel, i.e., steel that's less than 3 feet by 2 feet that have no non-metals attached to them, for $0.25 more per hundred pounds than the bigger steel pieces (unprepared steel (3'x2' or greater in size)).
    So, though we're certainly an appliance recycler, we help the environment and our customers by processing many other metal objects as well. Examples are aluminum cans and rims, motors, brass doorknobs, sheet copper, even junk cars!
    We welcome any questions you might have about our operation; therefore, by all means, put 919-828-5426 into your phone so we can talk recycling sometime!

    Greg Brown
    919-828-5426
    gbrown@raleighscrapmetalrecycling.com
    www.raleighscrapmetalrecycling.com

    Links
    Appliance Pick Up Removal

    Appliance Recycling


Friday, June 20, 2014

Cary, NC, Junk My Car for Cash, Junk My Car with No Title, Raleigh, NC, Durham, NC, Cary NC, 27610, 919-828-5426

Cary, NC Junk Yard, Salvage Yard
Junk My Car for Cash
Scrap My car for cash with No Title
Junk Car Towing, Junk Car Removal
Raleigh, NC, Cary, NC, Durham, NC
North Carolina
919-828-5426
Raleigh Metal Recycling
2310 Garner Road
Raleigh, NC, 27610

Raleigh, NC, Cary, NC and Durham, NC are great growth areas.  Junk My car in Raleigh, NC is easy at Raleigh Metal Recycling.  We are not just a Junk Yard, Salvage Yard or Scrap Yard, we are a major Recycling Center.
Two Options
1) TOWING-We tow, Junk Car removal
Just call Dave at 919-758-3764
or
2) DRIVE IN
Raleigh Metal Recycling
2310 Garner Road
Raleigh, NC 27610
-Running or not running, we buy
To junk your car for cash with no title, the car must be 10 model years or older.
If you are looking for a place to "Junk My Car", come see us!
Greg Brown
gbrown@raleighscrapmetalrecycling.com
919-828-5426
LINKS:
Junk Car Removal
Junk my car for cash

Friday, June 13, 2014

Junk My Car, Scrap My Car for cash, Junk Yard, Salvage Yard, Raleigh, NC 27610, Cary, Durham, NC, Towing Removal or Drive In!

Junk My Car for Cash
Scrap My car with No Title for Cash
Junk Yard, Salvage Yard
Junk Car Towing, Junk Car Removal
Raleigh, NC, Cary, NC, Durham, NC
 
 
 
Junk My car in Raleigh, NC is easy at Raleigh Metal Recycling.  We are not just a Junk Yard, Salvage Yard or Scrap Yard, we are a major Recycling Center.
 
Two Options
1) TOWING-We tow, Junk Car removal
Just call Dave at 919-758-3764
 
or
 
2) DRIVE IN
Raleigh Metal Recycling
2310 Garner Road
Raleigh, NC 27610
 
-Running or not running, we buy
 
To junk your car for cash with no title, the car must be 10 model years or older.
 
Greg Brown
919-828-5426
 
LINKS:
 
 
 
 


Wednesday, June 11, 2014

Scrap Metal in Raleigh, NC for great Salvage Prices per pound Copper, Aluminum, Junk cars-A great Scrap Metal Yard-919-828-5426

NC Scrap Metal Prices Recycling
Raleigh, NC, Cary, NC, Durham, NC
Salvage Yard, Scrap Yard, Junk cars
Recycling -6/11/14
Copper, Aluminum, Steel
Recycling Center
919-828-5426
Junk Car Towing/Removal
  

 
-Great Prices

-Outstanding Service

-Industrial Pick Up and Public Drop off

-12 Digital Scales to get you in and out-FAST!

-Junk Cars-We TOW, or you Drive in, or Tow in
 
Raleigh Metal Recycling here in Raleigh, NC, is where always do our best to pay you the most for scrap metal every day.  We communicate 24/7 with you, our prices to make it easy for you. When you call our phone number 919-828-5426 and press 2, you will hear a recording with "Today's prices" where we buy and sell scrap metal at great prices per pound.  This is for: 

-Steel Recycling
-Cast Iron Recycling
-Copper Recycling
-Yellow Brass Recycling
-Red Brass Recycling
-Aluminum Recycling
-Aluminum Can Recycling
-Appliance Recycling
-Computer Recycling
-Electronics Recycling
-Junk Cars
-Salvage Cars
-Stainless Steel Recycling
-Battery Recycling
and more.


 NC Scrap Metal is always welcome at Raleigh Recycling
We continue to have a three part focus at Raleigh Recycling
1) Public (Drop off)-or we pick up Junk Cars
2) Industrial/Commercial customers
3) Demolition Customers

If you are a large Commercial, Industrial or Demolition company, call me, Greg at 919-828-5426 to discuss prices.  We can give you prices for scrap metal, Cardboard, Copper, Electronics, Computers and more.

Or for just Appliances Disposal, Appliance Pick Up or Junk Metal removal, just call Kenny at

919-348-0545!
 
An important part of our company is that we have 11 digital, NC State certified scales that we use to service our Industrial and Commercial Customers.  Almost double our closest competitor, meaning we get you in and out fast and with accuracy!  We are not just a Junk Yard or a Salvage Yard, or even a Scrap Yard.  We are a major Raleigh NC, Recycling Center.

Importantly, we sell direct to Steel mills or divisions of steel mills, not to middle men who take a commission, so we pass that savings on to you!  We even ship our steel out mostly by rail car (not trucks) to save money in shipping, which we pass on to you

JUNK CARS, Salvage Cars
you can sell your junk car with no title for cash, as long as it is 10 model years or older.

1) WE TOW-JUNK CAR-JUNK CAR REMOVAL
-Junk Car Pick Up!
-Get Cash on the spot
-Sell your junk car for cash
-Any condition, running or not running
-Keys or no keys, engine or no engine

JUNK CAR REMOVAL, Junk Car Towing
Call 919-758-3764

2) Drive it in, or you tow it in!
-Get Cash on the spot
-Any condition
-In and out fast!
-Sell your junk car for cash
Come to us at:
 
Raleigh Metal Recycling
2310 Garner Road
Raleigh, NC 27610
Telephone- 919-828-5426


When in Raleigh, Durham, Apex, Butner, Cary, Chapel Hill, Clayton, Dunn, Garner, Henderson, Knightdale, Lumberton, Oxford, Mebane, Morrisville, Roxboro, Sanford, Smithfield, Wake Forest, Burlington, Fayetteville, Fuquay-Varina, come see us at:

Raleigh Recycling
2310 Garner Rd.
Raleigh, NC 27610

Tel 919-828-5426
www.raleighscrapmetalrecycling.com


When in Goldsboro, LaGrange, Kinston, Mt. Olive, Smithfield, New Bern, come see us at:

Goldsboro Recycling
801 N. John St.
Goldsboro, NC 27530

Tel: 919-731-5600
www.goldsboroscrapmetalrecycling.com 

When in Wilson, NC, Tarboro, NC, Rocky Mount, NC, come see us at:

Wilson Scrap Metal Recycling J & G
404 Maury Road S
Wilson, NC, 27892
Tel 252-243 3586

www.wilsonncscrapmetalrecyclingjg.com
 
Greg Brown
gbrown@raleighscrapmetalrecycling.com
Tel 919-828-5426


Links

Scrap Metal Recycling

Junk Car Sell for cash, Junk Car Removal
Appliance Pick Up, Appliance recycling

Sunday, June 8, 2014

NC Scrap Metal Recycling in Raleigh, for great Salvage prices of Copper and Aluminum, per pound Today, Junk Cars, Appliances, Durham, Cary, Junk Yard

NC Scrap Metal Prices Recycling
Raleigh, NC, Cary, NC, Durham, NC
Salvage Yard, Scrap Yard, Junk cars
Metal Recycling -6/9/14
Copper, Aluminum, Steel
Recycling Center
919-828-5426
  

-Great Prices

-Outstanding Service
-Industrial Pick Up and Public Drop off
-11 Digital Scales to get you in and out-FAST!
-Junk Cars-We TOW, or you Drive in, or Tow in

Scrap metal prices for copper right here in Raleigh, NC are down this week.    As we continue to say, with scrap metal being a truly globally priced item, since China and Turkey are buying less, prices are down.  Copper, which had been increasing for months took a big fall this week.  See the bottom of this email for some thoughts on metals.  We work hard to get you great scrap metal prices per pound.

Raleigh Metal Recycling here in Raleigh, NC, is where always do our best to pay you the most for scrap metal every day.  We communicate 24/7 with you, our prices to make it easy for you. When you call our phone number 919-828-5426 and press 2, you will hear a recording with "Today's prices" where we buy and sell scrap metal at great prices per pound.  This is for:
 

-Steel Recycling

-Cast Iron Recycling

-Copper Recycling

-Yellow Brass Recycling

-Red Brass Recycling

-Aluminum Recycling

-Aluminum Can Recycling

-Appliance Recycling

-Computer Recycling

-Electronics Recycling

-Junk Cars

-Salvage Cars

-Stainless Steel Recycling

-Battery Recycling

-and more.




 NC Scrap Metal is always welcome at Raleigh Recycling
We continue to have a three part focus at Raleigh Recycling
1) Public (Drop off)-or we pick up Junk Cars
2) Industrial/Commercial customers
3) Demolition Customers

If you are a large Commercial, Industrial or Demolition company, call me, Greg at 919-828-5426 to discuss prices.  We can give you prices for scrap metal, Cardboard, Copper, Electronics, Computers and more.

Or for just Appliances Disposal, Appliance Pick Up or Junk Metal removal, just call Kenny at 919-348-0545!
 
An important part of our company is that we have 11 digital, NC State certified scales that we use to service our Industrial and Commercial Customers.  Almost double our closest competitor, meaning we get you in and out fast and with accuracy!  We are not just a Junk Yard or a Salvage Yard, or even a Scrap Yard.  We are a major Raleigh NC, Recycling Center.

Importantly, we sell direct to Steel mills or divisions of steel mills, not to middle men who take a commission, so we pass that savings on to you!  We even ship our steel out mostly by rail car (not trucks) to save money in shipping, which we pass on to you

JUNK CARS, Salvage Cars

1) WE TOW-JUNK CAR-JUNK CAR REMOVAL
-Junk Car Pick Up!
-Get Cash on the spot
-Sell your junk car for cash
-Any condition, running or not running
-Keys or no keys, engine or no engine

JUNK CAR REMOVAL, Junk Car Towing
Call 919-758-3764

2) Drive it in, or you tow it in!
-Get Cash on the spot
-Any condition
-In and out fast!
-Sell your junk car for cash
Come to us at:
 
Raleigh Metal Recycling
2310 Garner Road
Raleigh, NC 27610
Telephone- 919-828-5426


When in Raleigh, Durham, Apex, Butner, Cary, Chapel Hill, Clayton, Dunn, Garner, Henderson, Knightdale, Lumberton, Oxford, Mebane, Morrisville, Roxboro, Sanford, Smithfield, Wake Forest, Burlington, Fayetteville, Fuquay-Varina, come see us at:

Raleigh Recycling
2310 Garner Rd.
Raleigh, NC 27610

Tel 919-828-5426
www.raleighscrapmetalrecycling.com


When in Goldsboro, LaGrange, Kinston, Mt. Olive, Smithfield, New Bern, come see us at:

Goldsboro Recycling
801 N. John St.
Goldsboro, NC 27530

Tel: 919-731-5600
www.goldsboroscrapmetalrecycling.com 

When in Wilson, NC, Tarboro, NC, Rocky Mount, NC, come see us at:

Wilson Scrap Metal Recycling J & G
404 Maury Road S
Wilson, NC, 27892
Tel 252-243 3586

www.wilsonncscrapmetalrecyclingjg.com
 
Greg Brown
gbrown@raleighscrapmetalrecycling.com
Tel 919-828-5426


Links

Scrap Metal Recycling

Junk Car Sell for cash, Junk Car Removal


Appliance Pick Up, Appliance recycling

Key Chinese Industrial Commodity Prices Keep Tumbling

        

  • china steel rebar construction
    REUTERS/Stringer
    Workers weld steel rebars at a construction site in Guangzhou, capital of China's southern Guangdong province.

    In spite of what appeared to be an improvement in China's manufacturing sector (see chart), China's economic picture remains cloudy. A number if indicators point to rising uncertainty and slowing industrial demand.
    Investors are becoming increasingly uneasy with the nation's property markets, which JPMorgan called "a major macro risk". Volumes of unsold real estate are now at record levels and sales continue to slow. Nomura's researchers are convinced "that the property sector has passed a turning point and that there is a rising risk of a sharp correction". Of course since the authorities can easily intervene, the situation may not be as dire as Nomura predicts. Nevertheless, the nation's property markets continue to pose significant risks.
    Moreover, some high frequency indicators are once again flashing warning signals. According to the ISI Group research, exports to and sales in China by US corporations have turned materially lower after remaining stable since early 2013 - indicating weakening demand. Anecdotal evidence suggests that a similar slowdown has also occurred for Japanese and euro area firms selling to China.
    The most worrying indicators however are the key industrial commodity prices. Futures on iron ore sold at China's ports fell below $100 for the first time in years.
    Iron Ore
    Sober Look


    And steel rebar futures on the Shanghai exchange are also continuing to fall. Some of these declines are of course related to declining construction activity.
    Steel Rebar
    Sober Look


    Once again, most economists do not expect a "hard landing" for PRC because the government has enormous resources to "backstop" the nation's economy. Nevertheless, a number of indicators from China still point to persistent risks to growth.
    This article originally appeared at Sober Look. Copyright 2014.


    Read more: http://soberlook.com/2014/05/fresh-lows-for-industrial-commodities.html#ixzz3448LqncF

    Chinese Probe Rattles Copper Prices

    Most Active Contract Suffers Biggest Drop Since Mid April






  • Updated June 4, 2014 5:29 p.m. ET
    Copper prices recorded their steepest drop in seven weeks Wednesday on concerns that a Chinese probe into the use of metals for obtaining loans would hurt demand.
    Chinese authorities are investigating whether companies used the same copper, aluminum and iron ore held as stock in Qingdao as collateral for multiple loans, several news organizations have reported. The northeastern port city halted some shipments of aluminum and copper last week. Standard Bank Group Ltd. SBK.JO +1.16% Standard Bank Group Ltd. South Africa ZAc14600 +168 +1.16% June 6, 2014 5:06 pm Volume : 1.60M P/E Ratio 0.14 Market Cap ZAc236.25 Billion Dividend Yield 4.11% Rev. per Employee ZAc3,989,570 1470014600145001440010a11a12p1p2p3p4p5p 06/04/14 Chinese Probe Rattles Copper P... 06/04/14 Kenya Gears Up for Debut Dolla... 05/22/14 Standard Chartered Admits It M... More quote details and news » is holding its own investigation into potential irregularities at the port, and is also cooperating with authorities, the bank said in a statement.
    Some investors fear the investigation will lead to a wider clampdown on lending practices involving commodities, which analysts estimate currently ties up as much as one million tons of copper.
    That also could force companies to sell commodities they had been using as collateral, flooding the market. China accounts for roughly 40% of world copper demand.
    Copper for July delivery, the most actively traded contract, closed down 1.4% at $3.0930 a pound, a three-week low. Wednesday's drop was the biggest one-day percentage decline since April 15.
    Many Chinese companies have turned to the copper market to gain access to cheap cash, particularly as China's government has cracked down on what it sees as excessive lending. One variation of the financing arrangements use the copper as collateral to borrow in a currency tied to a low interest rate, such as the dollar, then invest the money into higher-yielding local instruments.
    Copper futures fell nearly 10% in March when concerns about a crackdown on copper financing deals surfaced. The market had since recovered most of that ground, buoyed by improving industrial data in China and the U.S.
    The investigation at Qingdao shows that the Chinese government may be more serious than previously believed about rooting out corruption and establishing more transparent financial markets, said Sameer Samana, senior international strategist at Wells Fargo Advisors, which oversees $1.4 trillion in assets.
    "These kinds of things really worry us," Mr. Samana said. "Rampant abuse of these financing deals could lead to a pretty big hit in confidence in the Chinese economy."
    Copper prices also have been hurt this week by weak Chinese economic data that ran counter to the more optimistic numbers reported in recent months. Futures fell more than 1% on Tuesday after lackluster factory data from China showed demand from the world's second-largest economy may not be as robust as previously believed. Copper is widely used in manufacturing and construction, making it sensitive to economic data.
    Many investors expect China to gradually tighten restrictions on the use of copper as collateral, allowing companies to unwind these trades over a long period.
    However, "a disorderly unwinding of the deals could lead to sharply lower prices as stocks are offloaded on to the market," Capital Economics said in a note to clients.
    —Tatyana Shumsky contributed to this article.