Immense potential seen in junk trading
Updated: May 15, 2013 06:30:44pm
New Delhi, May 15 (KNN): Junk such as scrap metal, paper, plastic and electronics that enter the market place every day can be recycled and used innovatively, contributing to a growing recycling industry the world over.
“The US scrap alone annually processes more than 130 million metric tons of scrap metal, recovered paper, plastic scrap, used electronics and other scrap commodities generated by the manufacturing process and end-of-life products,” said a media report.
New products are being added every day to the list of commodities that can be recycled.
Reports indicate that there is a global demand for ferrous scrap. Iron and steel scrap are key raw material used to manufacture new products world-wide, making the ferrous scrap market increasingly global.
In fact, it is now a world-traded commodity that has become less dependent on local supplies. United Nations Commodity Trade Statistics show that the volume of global scrap exports surged from just 9.3 million metric tons in 1990 to more than 106 million metric tons in 2011.
The India Trade Policy on Scrap is unrestricted on import of primary forms and semi-finished forms of iron, steel and alloy-steel; as also on exports of the same.
According to government data, import of waste and scrap of cast iron in 2011-12 was Rs 40,886.04 lakh compared to Rs 21,246.07 the previous year. While heavy metal steel or heavy melting scrap is recyclable steel, cast iron scrap, an iron alloy containing high amounts of carbon is used for production of new steel and cast iron products.
The United States is the world’s leading exporter of ferrous scrap. The introduction of containerised scrap shipments opened the export market to a far wider range of domestic scrap processors. Its overseas markets include Turkey, China, India, Taiwan and South Korea.
In 2011, India alone accounted for 1.206 million tons of ferrous scrap from US.
While non-ferrous scrap includes anything made up of metal like aluminium, copper, lead, nickel and tin; ferrous scrap is made up of iron and steel like old automobile or machinery; and fibre scrap comprises newspaper and cardboard boxes.
Other materials that can be recycled include plastic, recycled glass, electronic scrap, scrap tyres and scrap textile. (KNN)
“The US scrap alone annually processes more than 130 million metric tons of scrap metal, recovered paper, plastic scrap, used electronics and other scrap commodities generated by the manufacturing process and end-of-life products,” said a media report.
New products are being added every day to the list of commodities that can be recycled.
Reports indicate that there is a global demand for ferrous scrap. Iron and steel scrap are key raw material used to manufacture new products world-wide, making the ferrous scrap market increasingly global.
In fact, it is now a world-traded commodity that has become less dependent on local supplies. United Nations Commodity Trade Statistics show that the volume of global scrap exports surged from just 9.3 million metric tons in 1990 to more than 106 million metric tons in 2011.
The India Trade Policy on Scrap is unrestricted on import of primary forms and semi-finished forms of iron, steel and alloy-steel; as also on exports of the same.
According to government data, import of waste and scrap of cast iron in 2011-12 was Rs 40,886.04 lakh compared to Rs 21,246.07 the previous year. While heavy metal steel or heavy melting scrap is recyclable steel, cast iron scrap, an iron alloy containing high amounts of carbon is used for production of new steel and cast iron products.
The United States is the world’s leading exporter of ferrous scrap. The introduction of containerised scrap shipments opened the export market to a far wider range of domestic scrap processors. Its overseas markets include Turkey, China, India, Taiwan and South Korea.
In 2011, India alone accounted for 1.206 million tons of ferrous scrap from US.
While non-ferrous scrap includes anything made up of metal like aluminium, copper, lead, nickel and tin; ferrous scrap is made up of iron and steel like old automobile or machinery; and fibre scrap comprises newspaper and cardboard boxes.
Other materials that can be recycled include plastic, recycled glass, electronic scrap, scrap tyres and scrap textile. (KNN)
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