China’s 2017 ban on importing scrap plastic caused shipments from developed nations to fall to 1.7 million metric tonnes during the second half of 2018, the lowest level since 2005, according to a Nikkei study. Import caps and higher tariffs imposed by ASEAN countries have also caused exports to that region, to which scrap was initially diverted, to decline. The higher fee has squeezed earnings for the industrial waste collector. The United States is now the world’s largest importer of scrap metal, accounting for about 20 percent of global imports in 2017, up from less than 10 percent five years ago, said Michael O’Leary, an analyst The industrial waste sector is also facing sharp increases in prices for plastic disposal.
China’s 2017 ban on importing scrap plastic caused shipments from developed nations to fall to 1.7 million metric tonnes during the second half of 2018, the lowest level since 2005, according to a Nikkei study. Import caps and higher tariffs imposed by ASEAN countries have also caused exports to that region, to which scrap was initially diverted, to decline. The United States is now the world’s largest importer of scrap metal, accounting for about 20 percent of global imports in 2017, up from less than 10 percent five years ago, said Michael O’Leary, an analyst The industrial waste sector is also facing sharp increases in prices for plastic disposal.