MRAI Highlights Vital Role Played by Aluminum Scrap in Nation’s Economy

SEATTLE (Scrap Monster): The speakers at the Materials Recycling Association of India (MRAI) 2020 meeting highlighted on the vital role played by aluminum scrap on the nation’s economy.

According to Dhawal Shah, vice president, MRAI, the accusation that secondary aluminum is of substandard quality compared to primary metal is just a myth. The imported aluminum scrap not only creates employment, but also enhances production of new aluminum with fewer greenhouse gas emissions. The government should pay immediate attention to formulating policies that would help the industry thrive and grow, Shah said.

MRAI welcomed government’s efforts to boost domestic scrap supply, but noted that scrap imports cannot be completely substituted for now.

Meantime, B. N. Sathpathy of government think tank NITI Aayog suggested the relevance of creating a circular economy. He added that scrap imports are likely to spur country’s economic growth over the next five years. Sathpathy urged MRAI to share information on recycling best practices and technology advancements with the government.

Analysts observed that commodity “super cycle” has probably reached its end. An appreciable rise in prices of aluminium and copper may require massive supply shocks. On the other hand, global battery demand is likely to push nickel prices higher.

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