ISRI Spotlights Positive Drivers for Ferrous Scrap Recycling Sector

SEATTLE (Scrap Monster): The virtually held 2021 ISRI convention and exposition highlighted the key positive drivers for scrap recycling sector in the U.S. The session pointed out recouping U.S. economy and the rising shift to ‘green’ steel by using scrap metal as the two main drivers.

Ben Pickett of Nucor Corporation stated that the steel and scrap markets are in a great spot and that recycling has got an important role to play in President Biden’s proposal for infrastructure boost. He highlighted that nearly 70% of the steel produced in the country was made from EAFs, which consumes huge quantities of scrap metal. This is significantly higher when compared with India and China, which makes only 56.2% and 10.4% respectively of their total steel using scrap.

Pickett raised serious concerns over China using unfair subsidies to distort global markets. Further, he noted that Section 232 tariffs were an effective policy and must be continued in order to prevent new surge in imported steel.

ISRI noted that U.S. steel industry has the lowest carbon intensity among top seven steel producers of the world.

Looking forward, the shortage of semi-conductors may impact auto industry operations. Any drop in the number of vehicles produced would badly affect demand for secondary steel, the convention noted.

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