RECYCLED METAL MARKET ANALYSIS

Market News

Global Recycled Metal Market- Recent Developments

New Product Launches

• On 20 August 2022, Commercial Metals Company (CMC) launched RebarZero, a carbon neutral rebar product made from 100% recycled steel. RebarZero is the first of its kind in the world, and is a major step forward in the fight against climate change. It is made from recycled steel that has been melted and processed without emitting any greenhouse gases. This makes RebarZero a much more sustainable option than traditional rebar, which is made from virgin steel that requires a significant amount of energy to produce.
• On 22May 2023, the first marketplace for verified recycled metals was introduced by Orbex. A global marketplace called Orbex makes it easier to trade commodities related to the environment. The company's marketplace is designed to provide buyers and sellers of recycled metals with a secure and transparent platform to trade. Orbex also offers a certification of origination (COO) for all secondary metal that is transacted on its marketplace. This COO provides buyers with proof of the metal's provenance and origin, which is important for ensuring the sustainability of the recycled metal supply chain.
• Novelis, a producer of aluminum beverage cans,launched a new line of recycled aluminum beverage cans that are made with 100% recycled content. The new cans are part of Novelis's commitment to make its products more sustainable. the. The new 100% recycled cans are a major step forward for the company and the recycled metal industry as a whole.

Acquisition and Partnerships

• In October 2020, ArcelorMittal (Luxembourg-based multinational steel Manufacturing Corporation) and Triple M merged to form Integrated Metal Recycling Inc. This joint venture will provide recyclers with more options to sell scrap metal on an ongoing basis while also establishing long-term business partnerships with a reliable partner.
• In December 2021, Schnitzer Steel Industries (global leader in the collection, processing, and sale of the world's most recycled product) acquired Metal Management, Inc. for US$ 2.2 Bn. This acquisition provided Schnitzer Steel a larger footprint in the U.S. scrap metal recycled market and access to metal management's recycling and processing capabilities.
• In January 2022, Sims Metal Management acquired Sims Recycling Solutions for US$ 1.3 Bn. This acquisition provided Sims Metal Management a larger presence in the European scrap metal market, and access to Sims Recycling Solutions' recycling and processing capabilities.