New Framework to Establish Central Authority for Metals Recycling
Through these measures, the Ministry of Mines intends to create jobs and boost economic growth.
SEATTLE (Scrap Monster): The National Non-Ferrous Metal Scrap Recycling Framework, 2020 recently published by the Ministry of Mines proposes to set up a central authority for recycling of metals. The framework covers non-ferrous metals including aluminum, copper, zinc and lead.
The framework aims to promote a well-organized recycling ecosystem in the country. It targets to boost local generation of high quality scrap for quality secondary production, thereby reducing the dependence on imports. Currently, the recycling system in the country is heavily unorganized. Also, it depends heavily on imported scrap to meet requirements. Through these measures, the Ministry of Mines intends to create jobs and boost economic growth.
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The framework recommends establishing BIS standards so as to ensure the quality of scrap used for recycling. Further, it calls for setting up a standard procedure for recycling and processing of scrap, in strict adherence to environmental guidelines and principles. The proposals will help in developing domestic recycling ecosystem and promoting a circular economy by utilisation of domestically generated scrap.
Scrap Metal Prices
| Copper Scrap | ||
| Alternator | 0.39 | $US/Lb |
| #1 Copper Bare Bright | 3.99 | $US/Lb |
| Aluminum Scrap | ||
| 356 Aluminum Wheels (Clean) | 0.74 | $US/Lb |
| 6061 Extrusions | 0.64 | $US/Lb |
| Steel Scrap | ||
| #1 Bundle | 360.00 | $US/MT |
| #1 Busheling | 380.00 | $US/MT |
| Electronics Scrap | ||