Robert J. (Bob) Garino
Robert J. (Bob) Garino is director of commodities for the Institute of Scrap Recycling Industries. Headquartered in Washington, D.C., ISRI represents more than 1,600 companies that process, broker and consume such scrap commodities as metals, paper, plastics, glass, rubber, electronics and textiles. Bob has a Bachelor of Science degree from Monmouth University and has worked in market research, strategic planning and metal and non-metallic commodities research for Commodities Research Unit, Inco, NL Industries and the National Association of Recycling Industries that merged with the Institute of Scrap Iron and Steel to form ISRI in 1987. COMMODITIES UPDATE written by Bob Garino is a review of supply, demand and pricing activities in various commodity markets. Email address: bobgarino@isri.org
Email: bobgarino@isri.org
Commodities UpdateLink This | Email This | Comments (0) On balance, most of the macro news has been positiveAnd so begins another month with London Metal Exchange (LME) showing losses all around, exacerbated by the Euro that traded at a seven-month low against the dollar. In New York, the March copper contract ended Thursday at $2.879/lb, down almost 9.5¢ for a fresh 3 ½-month low. April gold dropped $47/oz at $1,065, a three-month low. March crude oil also fell hard, down $3.84/barrel at... MoreLink This | Email This | Comments (0) Metals price volatility may be the watchword for 2010It’s Friday morning and the end of the first month of 2010, a most unsettling period for global commodities and domestic equities. To some, what we’ve seen so far in January confirms the view among many that says 2010 will feature meaningful volatility. But, for anyone connected to the global recycling industry, hey, that’s pretty much business as usual!Anyway, other than... MoreLink This | Email This | Comments (0) Uncertainty exists about the rate of growth aheadThis week is ending with even more economic uncertainty following comments from President Obama that could restrict banks and financial institutions from risk taking, thereby possibly constraining fund flows into commodities. Last Friday’s industrial production (IP) report for December showed a 0.6% increase, helped in large measure by the 5.9% gain in electric and gas utilities due... MoreLink This | Email This | Comments (0) Forecasters are bullish about steel output in 2010Looking for some 2010 steel forecasts? The latest from GFMS has the firm looking for “an aggressive bounce-back in (global) output in the first half of 2010.” At the same time, they’re relatively bearish on China with growth pegged at 2.3% year-on-year thus bringing total Chinese steel production to 587 million metric tons for this year. Global steel production, meanwhile,... MoreLink This | Email This | Comments (0) It’s a bullish New Year in the metals marketplaces2010 was off to a strong start on the London Metal Exchange (LME), led by copper, a slightly weaker dollar, and the strike action at Chuquicamata. The rest of the base metals complex also ticked higher as has confidence in the global economic picture. In New York, Comex March copper, crude oil and gold all gained. At mid-week, the LME powered ahead with several metals visiting multi-month... More |
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