Global scrap volumes, values made 2011 a record year, says ISRI

Global scrap metal exports were valued at $124.8 billion in 2011, marking a “banner year for global scrap demand”, the Institute of Scrap Recycling Industries (ISRI) said in a report.

Paragraph entered by Atlantic migration, in order for SteelFirst articles to display correctly on Metal Bulletin.

Global ferrous scrap exports totaled 106.7 million tonnes for the year, valued at $53.9 billion, figures compiled by ISRI from the United Nations Comtrade Database show.

Aluminium scrap exports totalled 7.5 million tonnes globally and were valued at $13.2 billion, while copper scrap exports totalled 5.6 million tonnes and carried a value of $25.5 billion, ISRI said in its 2012 scrap yearbook.

Global nickel scrap exports totaled 131,000 tonnes with a value of $751 million, while zinc scrap exports totaled 373,000 tonnes with a value of $644 million.
Lead scrap exports totaled 272,000 tonnes globally with a value of $417 million, according to the report.

The total value of global scrap exports in 2011—including paper, glass, plastic, rubber and textile scrap—was $145.2 billion.

“I would say that 2011 was a banner year for global scrap demand. For all recycled commodities, figures from the UN database show that exports increased by 4%, or by 9 million tonnes, to more than 200 million tonnes in 2011,” ISRI director of commodities Joe Pickard said.

“Given the rise in commodity prices in 2011, global scrap exports increased even more by value last year, climbing 24% higher year on year.”

What to read next
Chinese authorities officially announced that they will be expanding the range of permitted recycled copper and aluminium imports from mid-November, but market participants Fastmarkets spoke to at a conference this week are not convinced that this will mean more material will be imported into the country in the short run.
Li-Cycle announced on Thursday October 31 that it had entered an agreement with Glencore to sell 100% of the premium nickel-cobalt mixed hydroxide precipitate (MHP) production at its stalled hub in Rochester, New York – a step that could support Li-Cycle’s efforts to finalize a loan with the US Department of Energy (DOE).
Unprecedented supply tightness and record low treatment and refining charges (TC/RCs) are likely to challenge copper smelters in 2025 – even more than in 2024, sources told Fastmarkets.
The publication of Fastmarkets’ MB-PB-0086 lead 99.99% ingot premium, cif India and MB-PB-0087 lead 99.97% ingot premium, cif India assessments for Tuesday November 5 were delayed due to a reporter error.
Quarterly figures released by global miner Glencore on Wednesday October 30 showed that zinc concentrate output was dropping in a tight market while overall nickel output was down despite an increase in briquettes.
On Thursday October 24, the US Department of Treasury and the Internal Revenue Service (IRS) released the final rules regarding the Section 45X credits under the US Internal Revenues Code. The final rules clarify definitions and confirm credit amounts for eligible components, including solar and wind energy, inverters, qualifying battery components and applicable critical minerals. […]