A New Year wish for good and stable business

As speculative interests' activity in the metals markets declines, we are once again faced with metals prices more relevant to the fundamental side of the market. Given current economic news from around the world, this doesn't bode well for the near term, both in terms of price and scrap availability.

Dependent for a number of years on the strength of the industrialized world's growth and unprecedented growth in the developing nations, both speculation and the real need for metals fueled prices that were unimaginable a decade ago. Whether or not we'll see a repetition of these prices is anyone's guess, but at this writing it would appear that we are headed for slower activities in the near term, hopefully followed in short order by increased demand and price stability. After all, the world's growth isn't coming to an end, but it does need to take a break from the huge growth it's experienced, much to the benefit of non-ferrous markets.

As we begin 2009, I want to wish each of you, your families and your associates, the very best for a happy, healthy and prosperous year. Let's hope it's one of good and stable business, and one in which our industry thrives.

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