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) Mixed economic news has metals markets searching for directionBase and precious metals were off and running as the week began, initially spurred on by the weak dollar, positive expectations concerning global economic growth, and even bad Chinese weather. Wall Street, meanwhile, was also encouraged by October’s retail sales along with Ben Bernanke’s remarks on the U.S. economy and to “… ensure that the dollar is strong and a... MoreLink This | Email This | Comments (0) Smaller job losses could lead to job gains laterIt’s Friday the 13th…anybody superstitious? With little in the way of U.S. macro-economic news this week, we turn to China and Wednesday’s report that showed that industrial output accelerated to 16.1% year-on-year in October (versus 13.9% in September) - the fastest growth so far this year, and the largest annual growth rate since March ‘08. Yipes! As widely... MoreLink This | Email This | Comments (0) BIR Report: Nonferrous crowd more upbeat than ferrous folksNot much in the way of positive ferrous news to report, given the consensus views shared at last week’s Bureau of International Recycling (BIR) meeting in Amsterdam. Most expressed the belief that the current global steel market is over baked, and that the primary price drivers for both finished steel, and ferrous scrap, was nothing more/less than a destocking/stocking cycle that has... MoreLink This | Email This | Comments (1) Steel’s demand, price strength peaked back in AugustIndustrial Production for September was (again) better-than-expected, at 0.7% growth and the August index was also revised up. Credit last month’s jump in production to the auto industry: motor vehicle output rose 8.1% as assemblies of autos and light trucks increased 13.0% to 7.15 million vehicles. So, will October’s IP moderate due to an assumed slower-paced auto sector? Not... MoreLink This | Email This | Comments (4) The ‘Great Recession’ is over, so Q4 steel prices won’t collapseJust in case you missed it: “The Great Recession is over,” according to the National Association for Business Economics’ latest survey, taken Sept. 2-Sept. 24. The survey of 44 professional forecasters found that 80% of the respondents believed the U.S. economy was expanding after four straight quarters of decline. The survey also predicted that gross domestic product... More |
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