During the second quarter of 2021, metals prices prospered and continued to increase.
Demand remains firm but scrap supply is still unable to cope with these conditions despite strong prices. COVID is also serving to keep supply tight while the gradual improvement in the shipping crisis is still too slow to meet expectations on the demand side.
Copper price peaks have been creating more concerns for buyers, with hedging issues emerging. Given the strong prices and the shortage of supply, brokers and end users are worried about the cash-flow situation.
COVID vaccination centres are operating 24/7 in order to handle the flow of people. A number of different vaccines are available to the general public, arranged by the government health authorities and also the private sector. With this availability of vaccines, there is a feel-good factor among the public and businesses are opening up again, albeit with limited working hours and strong enforcement of standard operating procedures.
A.B.M. Corporation (PAK), Board Member of the BIR Non-Ferrous Metals Division