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) 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... MoreLink This | Email This | Comments (0) Volatile and sliding steel scrap prices dominate marketplace chatterFollowing last week’s payrolls report, many are thinking that the so-called V-shaped recovery may have lost its upward thrust. When it comes to consumer spending, fear of unemployment is almost as bad as actual joblessness… On more positive note, Monday’s Institute of Supply Management (ISM) Non-Manufacturing index came in better than the consensus expected, signaling... MoreLink This | Email This | Comments (0) In the recovering economy, commodity prices remain unpredictableThe third quarter ended this week, as did the U.S. government’s fiscal year with some projecting a deficit of some $1.5 trillion. Wall Street is expecting some big earnings to be announced in the weeks ahead, so we’re expecting the Dow and the S&P to react accordingly, despite this week’s heavy-duty selling. Will we soon see the Dow at 10,000? And what does that... More |
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