The summer was very hot in this region and its
simmering civil wars added to the
oppressiveness. Fears of a regional war with
Western or NATO intervention are increasing
and the outlook appears very gloomy.
Scrap flows improved after the Ramadan holidays, helped
by better LME prices. Copper scrap percentages are still
high, indicating a worldwide shortage. Demand is still
coming principally from the Far East.
Aluminium has been sourced in higher quantities but,
despite LME gains, scrap prices have not improved owing to
the lack of strong demand from India with the devaluation of
the rupee. Lead has experienced similar conditions to
aluminium because India is the main buyer.
Everyone here is holding their breath and waiting to see
what will happen next in the regional conflict, and whether
the violence will spread to neighbouring countries