Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»Green steel offers calm after ‘perfect storm’ • Recycling International
    Commodities

    Green steel offers calm after ‘perfect storm’ • Recycling International

    October 25, 20242 Mins Read


    2024 has been a challenging year for the recycled metals industry which has faced a ‘perfect storm,’ according to the Bureau of International Recycling.

    The conclusion comes in BIR’s latest quarterly Mirror which attributes the result to a combination of demand, pricing and sourcing. Shane Mellor, president of the Ferrous Division, writes: ‘The subdued ferrous market continues its search for more positive sentiment regarding both furnace-ready feed and finished products.’

    Mellor points out that the ferrous metal recycler has to play a crucial role as the steel industry looks to decarbonise using ‘greener’ steel with more scrap. The importance of green steel is the proposed focus of the Ferrous session at BIR’s upcoming convention in Singapore (28-29 October).

    Standards

    Specifically, BIR supports the World Trade Organization’s Steel Standards Principles, an initiative that is charting mutual recognition, data consistency and interoperability for measuring greenhouse gas emissions. The Ferrous Division board believes that BIR should, where possible, participate in discussions that will shape the future of sustainable steel.

    ‘It is important to ensure that carbon savings from recycled steel are considered in the definition of near-zero steel, emphasising the role of recycled ferrous metal in decarbonisation efforts,’ Mellor writes. ‘With BIR’s participation, the initiative provides a platform for the recycling industry to champion the principles of the circular economy within the framework of steel decarbonisation.’

    Use of recycled steel

    The Mirror also has the latest insight on data of crude steel production. Statistics advisor Rolf Willeke notes that for the first time, BIR is reporting on consumption of recycled steel in BOF and EAF steel production.
    He reports that major producing countries with a high proportion of EAF production involving intensive recycled steel usage are Turkey on 94.2%, India on 80.4% and Japan on 73.1%.

    ‘Despite the high share of BOF production in China (88.6%), the country is still the largest user of recycled steel because of its very high overall crude steel production.’



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    the nu-metal giants keep the hits rollin’ in

    Commodities

    Smug immigrant who self deported slams America’s ‘horrible, evil energy’… and says his new country has better food

    Commodities

    “I’m an old man, I can do what I f***ing want!” Metal God Rob Halford considers recording an album of Tony Bennett covers

    Commodities

    Metal Gear Solid Delta’s Dismal PS5 Pro Support Could Use a Rethink

    Commodities

    Woodside veering away from investing in Australia as BHP’s Mike Henry weighs in on economic headwinds facing Australia

    Commodities

    Metal Gear Solid Delta Should Have Followed Silent Hill 2’s Lead

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Fintech

    Regulatory, fintech innovators’ collaboration needed to help MSMEs thrive – Adeoti, Routelink CEO

    Property

    Powerlong Real Estate : L’audience sur la liquidation d’une filiale reportée à novembre

    Precious Metal

    PAN GLOBAL INTERSECTS 6.5M OF 1.22 G/T GOLD AND 14M OF 0.46% COPPER, EXPANDING MINERALIZATION AT CAÑADA HONDA DISCOVERY, ESCACENA PROJECT, SOUTHERN SPAIN USA – English USA – English

    Editors Picks

    Excellence Commercial Property & Facilities Management Group Limited approuve le dividende final pour l’exercice clos le 31 décembre 2024

    May 27, 2025

    AshToken: Empowering Nigerian businesses with cryptocurrency solutions

    August 22, 2025

    Gold-Backed Tokens Outperform as ‘Bond King’ Gundlach Sees Precious Metal Hit $4,000

    March 17, 2025

    6 ways to save for retirement without a workplace pension

    August 8, 2025
    What's Hot

    Here Are the Most Popular Ages to Claim Social Security and Their Average Monthly Benefits

    August 11, 2024

    Cardano Price Goes Above $5? — Historical Data Reveals Interesting ADA Trajectory ⋆ ZyCrypto

    August 17, 2024

    Bonds that evoke feelings of Deja Vu

    October 30, 2024
    Our Picks

    US Authorities Return $7 Million to Victims of Cryptocurrency Investment Scam

    March 24, 2025

    How the Fintech Company is Competing with Banks

    August 22, 2024

    HDF Energy a triplé son chiffre d’affaires en 2024

    March 21, 2025
    Weekly Top

    Dream11 parent Dream Sports testing Dream Money App to enter fintech sector

    August 24, 2025

    Pakistan at risk of FATF grey list return over digital transactions, warns Pak Finance Minister Aurangzeb – World News

    August 24, 2025

    the nu-metal giants keep the hits rollin’ in

    August 24, 2025
    Editor's Pick

    Are You Overpaying Debt At The Expense Of Retirement?

    July 31, 2025

    Chicken nuggets, tenders recalled over metal

    August 19, 2024

    Nike Ja 1 “Light Silver” Gets Official Images

    July 27, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.