This Afternoon in Metals: Changes for Chinese Scrap Metal Imports Could be on the Horizon, Gold Hits 1-Month High

by on

Gold Prices Going UpThis afternoon in metal news, Chinese imports of scrap metals could be subject to further scrutiny by the government, gold reached a one-month high and GE Additive gives away metal 3-D printers valued at $8 million to more than 400 schools. GE Additive previously committed $10 million to its GE Additive Education Program, which aims to encourage the use of 3-D printing technology in education programs and developing future talent.

China Considers Bans on Scrap Imports

China, the world’s leading buyer of copper scrap, might be reconsidering its import strategy, as Materials Recycling World reported.  Speaking at a Bureau of International Recycling (BIR) convention in Hong Kong, Ma Hongchang, BIR’s adviser on Chinese policy and regulatory developments, said it was possible the government could ban imports of certain grades of mixed metal scrap.

Two-Month Trial: Metal Buying Outlook

While nothing has been set in stone from a regulatory perspective, China will continue to have a need for scrap metals, given the growth of infrastructure projects in the country. However, it will be interesting to note the sources of its import supply — that is, whether there is a shift in imports coming from Europe and the U.S. to other nearby Asian nations.

Amid Political Uncertainty, Investors Go for the Gold

Geopolitical tensions and instabilities have a way of roiling markets and, consequently, making investors uneasy. That hasn’t been the case for gold, which recently hit a one-month high, according to a Reuters report.

As the race for prime minister in the U.K. tightens, and nations like Italy and Germany prepare for elections of their own down the road, many investors have turned to the “safe-haven asset” of gold. Spot gold rose by 0.1 percent, according to the Reuters report, to $1,267.70 per ounce.

“The ongoing political uncertainty in the market is really driving safe-haven buying at the moment,” ANZ analyst Daniel Hynes told Reuters.

GE Additive’s $10M Education Program to Bring 3-D Printers to 400-plus schools

GE Additive recently announced it would be giving metal 3-D printers to more than 400 schools, as part of its education initiative to bring the technology to students, as reported in 3D Printing Industry.

The printers, valued at $8 million, are part of Additive’s effort to give students access to additive technologies and “help accelerate the adoption of advanced manufacturing worldwide,” according to GE Additive’s website.

According to 3D Printing Industry’s report, eight universities will receive a Concept Laser MLAB cusing 100R metal 3-D printer, valued at $250,000 apiece. Although the 2017 application deadline for 3-D printers through the program has passed, educational organizations can apply for 2018 at a later date on the GE Additive website.

Free Download: The May 2017 MMI Report

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.