Recycling of US polystyrene soars; New purchase by Waste Management; India’s synthetic textile raw materials imports surge; China to slash steel exports in 2015
Expanded polystyrene’s recycling rate surges
An industry report says that the recycling rate of expanded polystyrene foam in the US and Canada rose to 35% last year. A total of 57,742 tonnes was recycled, made up of 33,021 tonnes of post-commercial and post-consumer packaging and 24,720 tonnes of post-industrial recovery.
New purchase by Waste Management
Deffenbaugh Industries is to be acquired by Waste Management and aPriori Capital Partners. The deal will help expand Waste Management’s services in Kansas City as well as Missouri, Kansas, Nebraska and Arkansas. The acquisition, which is subject to the approval of the US Department of Justice, is anticipated to close by the end of the year. Both companies will function independently until the transaction is completed. The value of the deal remains undisclosed.
EfW project in China
China Everbright International, based in Hong Kong, has signed a joint venture agreement with Sichuan Energy Industry Investment Group to expand and develop energy to waste and other projects in the low-carbon industry in Sichuan province and surrounding areas. It will be known as the Sichuan Everbright Energy Conservation and Environmental Protection.
Waste Management World
Feasibility study for waste management project
Himachal Pradesh in India has approached a Dutch firm NexusNovus for conducting feasibility study for a waste management project. The study, which will cost around INR4m (£41,000), would be funded solely by NexusNovus and it will be completed within six months with the assistance of the state urban development department.
India’s synthetic textile imports surges
India’s imports of synthetic raw materials for textiles has increased after the government levied anti-dumping duty ranging between $19.05 per tonne to $117.09 per tonne on completed products from China, South Korea, Thailand and the European Union. The country’s polyester staple fibre imports in July and August was 16,785 tonnes, which is over three times more than import of 4,441 tonnes during the same period last year. Imports of polyester filament yarn rose 130% to 8,965 tonnes during the two-month period compared to the corresponding period of last year.
Vietnam textiles exports rise
Vietnam is expected to export around $25bn (£1.5bn) worth of textiles and garments this year, an increase of 16% from 2013. The exports of garments in the first nine months rose 19% from a year ago to $17.2bn. India became the second-biggest cotton provider for Vietnam after the US, replacing China.
Freeport-McMoRan to sells copper mine stake
Freeport-McMoRan is to sell its 80% stake in the Candelaria and Ojos del Salado copper mining complex in Chile’s Atacama province to Canada-based Lundin Mining. Lundin Mining will pay $1.8bn (£1.1bn) in cash in addition to $200m in contingent consideration for the deal. The remaining 20% stake in the complex will continue to be held by Sumitomo Metal Mining and Sumitomo.
China to slash steel exports in 2015
China is likely to decrease steel exports in 2015 following the cancellation of export incentives this year. The country improved its steel exports significantly in 2014, mainly due to the government’s preferential policies, including tax rebates for some products. China will produce around 830 million tonnes of steel this year and approximately the same amount next year.