Non-ferrous sector growth predicted; China’s plastic recycling; Newark Group acquisition; Paraguayan cotton output; Brazillian iron ore exports
Non-ferrous metal recycling industry revenues to grow
The non-ferrous metal recycling industry is expected to grow at an annualised rate of 12.1% to $19bn (£11bn) in 2014, according to IBiSWorld Industry. Environmental standards that encourage the use of recycled materials has helped the trend. “Surging prices for commodities after the recession increased demand for recycled non-ferrous metals, which are less expensive to purchase and reprocess than primary metals,” says IBISWorld Industry analyst Leah Goddard.
Plastic recycling industry in China drops
China’s plastic recycling industry has witnessed a slump in growth. The manufacturer’s consumer around 13.6 million metric tonnes of plastic scrap in 2013, recording a 14.5% decrease in volume compared to 16 million metric tonnes consumed in 2012. The top eight recycled materials are scrap iron and steel, other scrap metals, plastic scrap, scrap tires, scrap paper, waste electrical and electronic products (WEEE), end-of-life vehicles and ships to be dismantled.
Lawsuit over metal at Qingdao port
Legal proceedings have been initiated by Citic Resources Holdings, the commodities trader controlled by China’s largest state-owned investment company to recover materials missing from Qingdao port. A claim against the port warehouse operator in the Qingdao Maritime Court has been filed by the investment company seeking confirmation that it owns alumina and copper held at the port, said a statement. The company wants the materials released and delivered or compensation be given if they can’t be recovered. Citic Resources has found that more than half its alumina stored at Qingdao Port is missing.
Paraguay to improve cotton output
The Ministry of Agriculture and Livestock in Paraguay and the Chamber of Cotton have decided to work together on improving cotton production, after the country produced an historic low of 15,000 kilos this year, an official statement said. The work will be undertaken in two stages, and would aim at increasing the area under cotton to 50,000 hectares.
Newark Group acquired by Caraustar Industries
In one of the major paper recycling deals, US-based recycled paper products maker Caraustar Industries is purchasing US-based recycling firm The Newark Group for an undisclosed amount. According to a news release, The Newark Group employs about 1,500 and operates more than 20 manufacturing facilities in the United States and Canada.
Iron ore exports from Brazil increase in June
The Brazilian Ministry of Development, Industry and Foreign Trade’s latest data reveals that the country’s iron ore exports in June 2014 have grown significantly year-on-year. The country exported 29.55 million tonnes of iron ore during the month, 3.7% lower when compared with the exports during a month before. Even so, exports last month were 13.2% higher when compared with the exports during the same month a year before. Export revenues generated totalled $2.30bn (£1.34bn) during June this year.