Author: 05 Aug 2011 Last updated at 00:00:57 GMT

India's first used cars recycling facility opens at Chennai

MUMBAI (Scrap Monster): India’s first recycling facility for used cars has opened in the southern state of Tamil Nadu, the Society of Indian Automobile Manufacturers (SIAM) said on Thursday.

It is an attempt to recover scrap material and spur growth of the automobile industry, SIAM said in a statement.

The facility is a part of global automotive research centre of the ministry of heavy industries in Oragadum near Chennai.

This facility is estimated to recover 1.5 million tons of steel scrap, 180,000 tons of Alumminum scrap and 75,000 tons each of recoverable plastic and rubber from scrapped automobiles by the end of 2020.

Currently, used vehicles are cut and sold for scrap by low-tech units in the unorganized sector; crude techniques used by the sector are polluting the environment and recovering low yields.

The facility is expected to help in the overall growth of automobile industry.

 

METAL PRICE CHARTS

GET PRICE CHARTS

18ct Gold Scrap Price Charts

22ct Gold Scrap Price Charts

Silver Scrap Price Charts

RELATED NEWS

China Decides to Remove Export Duty on Rare Earths since May 1

April 24th 2015 06:06 AM
China Decides to Remove Export Duty on Rare Earths since May 1
China's Ministry of Finance announced adjustments to export tariffs April 23, removing the export duties on rare earths

Hong Kong's scrap exports surged in February

April 23rd 2015 08:29 AM
Hong Kong's scrap exports surged in February
According to latest trade statistics released by Hong Kong Census and Statistics Department, the scrap exports by the country surged…

US H1 scrap average prices remained flat as on Apr 20th

April 23rd 2015 08:30 AM
US H1 scrap average prices remained flat as on Apr 20th
The US H1 scrap price average prices were at $234.83 per long ton, as on 20th April, 2015

US Ferrous Scrap prices likely to trade in narrow range

April 22nd 2015 08:49 AM
US Ferrous Scrap prices likely to trade in narrow range
The US Ferrous scrap steel prices rebounded during the month of April this year, following increased buying by mills as…
Scrap Item Price Unit
6063 Extrusions 0.78 $US / Lb
Zorba 90% NF 0.63 $US / Lb
6061 Extrusions 0.71 $US / Lb
Old Sheet 0.55 $US / Lb
Al/Cu Radiators 1.31 $US / Lb
Old Cast 0.55 $US / Lb
Next Story