We are now coming towards the end of what has been one of the most challenging years ever. We’ve gone through the worst of times since the start of the pandemic in Wuhan, China, in December last year and its very rapid spread to the rest of Asia, Europe, Africa and the Americas, with cities and entire countries locking down one after the other over the ensuing months.
COVID-19 infections worldwide have soared to around 65 million at the time of writing, although thankfully vaccines are about ready to come to the rescue after what has seemed like the cold, dark hours before the dawn. When news of the development of vaccines was announced, metal prices shot straight up despite the fact that COVID-19 is still claiming victims in second and third waves of the pandemic.
The worldwide container shortage has borne out our prediction of several months ago as the impact of unbalanced trade has kicked in and freight rates have gone higher. In the meantime, official implementation has begun of China’s new import policies on recycled copper, brass and cast aluminium alloys. However, no official announcement has been made as yet on pre-shipment inspection requirements.
As this is our last Mirror of the year, I wish you all a Merry Christmas and a Happy New Year. I’m looking forward physically to meeting everyone in 2021.
Uni-All Group Ltd (USA), President of the Non-Ferrous Metals Division