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Nordic Countries

As we enter summertime, it seems COVID has finally loosened its grip on the Nordic Countries and life has returned to normal. The LME is also behaving more normally as the pace of this roller-coaster has slowed significantly.

Sales prices for copper are currently decreasing while deductions from LME are increasing, one reason being that European car producers are running more slowly owing to a lack of components from Ukraine. Furthermore, rising inflation in Europe because of the situation in Ukraine is also having an effect on demand for copper scrap. The brass markets are still functioning but buyers are not following the fluctuations on the LME.

LME aluminium appears to be on a downward trend and the metal has lost around 10% of its value. Price decreases are also being seen in the physical market - for example, for aluminium wheel scrap - because of the automotive sector’s slower pace.

Stainless steel is relatively stable for the moment and supply of nickel-based products is fair. Demand for motors from India and Pakistan is good, and this is bringing a lot of material to the market.