Positive news on the non ferrous front at last with copper and lead showing improvements on early & mid January levels. These slight increases along with a lift in aluminium provide some small comfort to the industry.
Steel has remained unchanged but rumours of a decrease persist largely due to TATAs Port Talbot plant announcing no scrap purchases in the first quarter of the year. Perhaps the acute shortage of scrap can be a positive influence on keeping the price level for another month.
January is always a tough month and so it has proved - scrap metal of all grades being very scarce with most yards seeing a lack of traded volume.
Chinese New Year could have a positive effect on markets as the first half of the month will see traders away from their desks.
All eyes on February then to provide some leap year suprises for the commodity markets - as well as the suprise proposals for men. All welcome ones we hope!