White & Case Report Foresees Strong Global Scrap Metal Demand

SEATTLE (Scrap Monster): A recent report published by White & Case outlines the significant structural changes the mining & metals industry expected to see as a result of the increased focus on ESG. It highlights the increased interest in recycling as a source of green metals.

The document points out that smelting scrap metal for recycling requires significantly less energy than refining raw minerals into metals. The process results in substantially lower emissions as well. Incidentally, aluminum and steel industries contribute 2% and 7% respectively of the total global carbon dioxide emissions.

The global metal output using secondary processes currently stands at around 20% for most recycled metals. This proportion is higher in the US and the EU. The increased demand for metals across a wide range of industries, coupled with increased impetus on a circular economy is likely to keep the global demand for scrap metal extremely strong in the years to come, the report noted.

Several countries have resorted to taxing or prohibition of exportation of scrap metal so as to reserve their domestic scrap supplies to own metal processing facilities. Export restrictions have become more prevalent during recent times.

The report states that metal recycling sector will continue to remain as a growth area, especially due to its capability to supply the world’s metal needs in a green and sustainable way.

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