BIR Published World Mirror on Non-Ferrous Metals- October 2023

SEATTLE (Scrap Monster): The Bureau of International Recycling (BIR) published the October 2023 edition of World Mirror on Non-Ferrous Metals, which says that recycling is likely to become even more critical, mainly due to anticipated acute demand for raw materials in the near future.

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With reference to International Copper Association estimates, the Indian demand for the metal recorded nearly 27% surge in 2022, upon comparison with the previous year, mainly driven by increased demand from power, infrastructure, real estate, consumer durables and industrial sectors. The copper consumption in the country is predicted to triple by end-2030, it noted.

The Chinese automotive sector remained strong during the initial six-month period of the year. The auto industry in Mexico too produced more light vehicles, thus boosting demand for metals.

Although the market demand outlook appears to be robust, there has been a notable decline in yard intakes of scrap in various counties, including those in Australasia, Europe and in Mexico. The intake volumes in Mexico are down by almost 20-30% when matched with the prior year levels. Germany too has recorded sharp decline in scrap availability, BIR World Mirror noted.