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Four things that we learnt from BIR conference

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Melting Scrap

BigMint Bureau

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23 May 2017, 17:23 IST

Four things that we learnt from BIR conference

Bureau of International Recycling (BIR) promotes materials recycling and facilitates free and fair trade of recyclables in a sustainable and competitive world economy. Strategically held in Hong Kong during 22-24 May'17 May, the BIR World Recycling Convention & Exhibition brings together over 900 recycling industry professionals from all over the globe, from traders, processors, consumers, brokers to machinery & equipment suppliers, IT suppliers and consultants.

Key features for Hong Kong 2017 include:

The convention programme covered discussions on relevant topics on ferrous and non-ferrous metals, paper, textiles, stainless steel, plastics, tyres and e-scrap
Extensive trading and business opportunities on the event's Trading Floor and in the international exhibition

According to Steelmint Analysis, Four things that we learnt from BIR conference are:

1. Chinese steel scrap exports rising: Chinese steel exports was talk of the conference. Market participants mentioned rising exports from China may disturb supply- demand balance in short and medium term. Participants also believed that actual generation on scrap in China, which is reported CAMU is on lower side.

2. Demand likely to remain healthy: BIR ferrous scrap division President, Mr. William Schmiedel of SIMS metal, mentioned that scrap demand likely to remain healthy in coming time. According to him, China scrap exports is a short to medium phenomenon and may not impact market in longer run. He also mentioned that local demand in US and Europe is strengthening.

3. Pakistan an emerging market: Pakistan is proving to be an emerging market for scrap imports due to rising steel production. However no official data is available for Pakistan imports but it is expected not to be less than 3.5-4.0 million tonnes. By these numbers Pakistan is one of the largest scrap importer in Asia.

4. Scrap may be listed in Shanghai future exchange: Dr. Chen Ye from Shanghai Future Exchange (SHFE) mentioned that importance of scrap is rising in China and exchange is exploring opportunities to list scrap for futures trading. HRC and re- bar futures are already listed and very successful because of high volumes and active trades.