Scrap Market Research Articles

Electronic Waste and the Environmental Justice Challenge in Agbogbloshie

Abstract This article explores the promise and politics of environmental justice (EJ) in Agbogbloshie, a scrap market in Accra, Ghana, that has become a popularized zone of electronic waste (e-wast...

Herd behavior in the drybulk market: an empirical analysis of the decision to invest in new and retire existing fleet capacity

We examine whether investors herd in their decision to order or scrap vessels in the drybulk market. We decompose herding into unintentional and intentional, and test for herd behavior under asymmetric effects with respect to freight market states, cycle phases, risk-return and valuation profiles, and ownership of the vessel. We detect unintentional herd behavior during down freight markets and contractions. Furthermore, we find evidence of spill-over unintentional herding effects from the newbuilding to the scrap market. Finally, asymmetric herd effects are evident between traditional and liberal philosophy towards the ownership of the vessel, and during extreme risk-return and valuation periods.

Econometric modeling of recycled copper supply

The supply of recycled material depends on historic consumption, i.e. what constitutes scrap available today originates from previously made products. Analytical tools, such as materials flow analysis, use this observation to estimate scrap metal flows. The supply of recycled metal also depends on changing economic conditions, e.g. metal consumption rates correlate with changes in gross domestic product. We use an autoregressive distributed lag approach to model the supply of recycled copper as a complementary approach to material flow analysis. We find that both industrial activity and world GDP correlate with total scrap supply, with limited dependence on copper price. We also develop independent models for direct remelt (higher quality) and refined (lower quality) scrap. A 1% increase in industrial production leads to a 2.1% increase in higher quality scrap quantity, while a similar increase in world GDP leads to a 1.4% increase in lower quality scrap. Based on this model dependence, we suggest that a recycling policy aimed at increasing recycling through the use of subsidies, taxes or price incentives should be directed towards the low-end segment of the scrap market and there it may still only have limited impact.

Regional Logistics of Procurement of the Ferrous Scrap by the Iron-and-Steel Companies of the Russian Federation

The article discusses the relevant problem of iron-and-steel companies saving on purchasing the scrap metal. The analysis of the current state of the ferrous scrap market in the Russian Federation, trends of its development, led the authors to an opportunity to reduce the cost for purchasing scrap trough the optimal distribution of the regions between Russian iron-and-steel companies where they purchase ferrous scrap. The optimization of the regional structure of the scrap procurement taking into account the regional volumes of its generation and consumption results from using the linear programming methods applying three variants of the problem statement: minimizing the total cost of the scrap delivery to the factory, minimizing the total cost of the scrap at the “export parity†price with delivery, minimizing the total cost of the scrap at the actual prices with delivery. The authors have developed software for performing the calculations. The source are the database of the JSC Russian Railways, which provides information about the transportation of the ferrous scrap between stations of the Russian Federation by railroad; railway rates guide between railway stations of the Russian Federation; statistical data on the prices for scrap metal of the type 3A in “export windows†; actual purchasing prices for the scrap of the 3A type for the range of separate companies of the Russian Federation for several years. As a result, the authors have obtained the optimal regional structure of scrap purchasing for customers in the Russian Federation. We have formulated the recommendations for individual companies regarding the optimal routes of the procurement with scrap. The study has confirmed the possibility to decrease expanses for purchasing the scrap metal for all iron-and-steel factories of the Russian Federation through the optimization of the regional structure of procurement. It is also has allowed to estimate the possibility to cut expenses by using the optimal strategies allowing to choose the region of procurement.

Evaluation of removal efficiency of heavy metals by low-cost activated carbon prepared from African palm fruit

This study details the removal of heavy metals; Cadmium, Copper, Nickel, and Lead from wastewater effluent using an activated carbon produced from African palm fruit. The effluent was obtained from Old Panteka market; a metal scrap Market located in Kaduna State, Nigeria, which has several components that constitute high level of pollution in the environment. The effect of temperature and contact time on the removal of these heavy metals using the activated carbon produced was investigated. The activated carbon showed a significant ability in removing heavy metals; Cadmium, Copper, Nickel, and Lead from the wastewater. Higher percentage removal was observed at a temperature of 80 °C (93.23 ± 0.035, 96.71 ± 0.097, 92.01 ± 0.018, and 95.42 ± 0.067 % for Cadmium, Copper, Nickel, and Lead, respectively) and at an optimum contact time of 60 min (99.235 ± 0.148, 96.711 ± 0.083, 95.34 ± 0.015, and 97.750 ± 0.166 % for Cadmium, Copper, Nickel, and Lead, respectively) after which the percentage removal decreases. This work, therefore, suggests that African palm fruit can be successfully applied to solve this environmental pollution.

Assessment of midterm CO2 emissions reduction potential in the iron and steel industry: a case of Japan

An up-to-date techno-economic assessment was conducted on CO2 emissions reduction potential in the Japanese iron and steel industry for 2030. The following mitigation measures were investigated: (i) maximized installation of best available technologies (BAT scenario), (ii) increased use of coke substitutes in blast furnaces, and (iii) increased use of obsolete steel scrap. For measure (iii), this study assessed the obsolete scrap use in the integrated steelmaking (BF-BOF) route, rather than increasing steel production from the electric arc furnace (EAF) route. CO2 capture and storage (CCS) was not considered due to large deployment uncertainty.The results showed that 20 Mt–CO2 of emissions reductions, equivalent to 12% of the industry's total emissions in 2010, can be achieved in 2030 compared with a frozen technology scenario. More than 9 Mt–CO2 reduction was attributable to the enhanced use of obsolete scrap in the BF-BOF route. Consequently, the industry's emissions reduce by about 7 Mt–CO2 or 4% below 2010 levels. Almost all domestically recovered obsolete scrap can be fully consumed solely by increasing the scrap use in basic oxygen furnaces (BOF). Moreover, the increase in average copper concentration in the BF-BOF steel due to the increased obsolete scrap use was found unlikely to limit the production of high-quality steel products.In comparison with a scenario that only considered measure (i) and assuming a 15% real interest rate, CO2 mitigation cost curves for 2030 showed that the CO2 mitigation costs were below US$2010 20/t-CO2 for measure (ii) and around US$2010 110/t-CO2 for measure (iii). Compared to the marginal abatement costs calculated for 2030 to reduce Japan's GHG emissions by 20%–25% from 1990 levels (about US$2010 67–640/t-CO2) reported in the literature, all three measures may become economically viable.The increased use of obsolete scrap in the BF-BOF route can become an interesting option for Japanese steelmakers to stimulate the steel scrap market and achieve economical global CO2 emissions reductions while maintaining international competitiveness in the midterm future.

Lifecycle Assessment and Lifecycle Costing of Aluminium Wrought-to-Wrought Recycling

The aluminium scrap market is undergoing rapid changes which will trigger off new recycling strategies. As the cast scrap market saturates it will become economically feasible to apply scrap also in aluminium wrought alloy production. As part of an EU project, Sustainable and efficient Production of Light weight solutions (SuPLight) a method for assessing life cycle environmental and economic consequences of applying aluminium scrap in high-end products has been developed. In this work, the method has been applied to assess life cycle environmental and economic impacts for six scenarios, embracing five various strategies for scrap treatment. This includes processes in material and component production, as well as fuel use during operation of vehicle and end-of-life treatment. The model for scrap strategies includes three grades of sorting and separation, plus simple refining by low-temp electrolysis and fluxing, and refining by Hoopes process. Not surprising, we find that sorting is beneficial compared to refining. More notable, perhaps, is the relative large difference between scenarios with regards to the environmental impacts considered. Finally, we discuss benefits from the life-cycle evaluation of scrap scenarios and use of the tool in business development.

Notice of retraction of radiation accident at Mayapuri scrap market, Delhi, 2010 by A. B. Dey et al., Radiation Protection Dosimetry (2012), Vol. 151, No. 4, pp. 645-651, 10.1093/rpd/ncs162

Notice of retraction of radiation accident at Mayapuri scrap market, Delhi, 2010 by A. B. Dey et al., Radiation Protection Dosimetry (2012), Vol. 151, No. 4, pp. 645-651, 10.1093/rpd/ncs162

Notice of Retraction of Radiation accident at Mayapuri scrap market, Delhi, 2010

This article reports the accidental public radiation exposure in a scrap market in Delhi, India, on March 2010. The source, a gamma unit containing Cobalt-60 pencils, was improperly disposed of by a research institution in violation of national regulations for radiation protection and safety of radioactive sources. The unit was sold off to unsuspecting scrap dealers who dismantled the equipment. This event subsequently caused the most severe radiation accident reported in India to date, resulting in seven radiation injuries and one death. The clinical course of five of the patients treated at the All India Institute of Medical Sciences hospital, New Delhi, is summarised in this report. All five patients suffered from the haematological form of the acute radiation syndrome and local cutaneous radiation injury as well. While four patients exposed to doses between 0.6 and 2.8 Gy survived with intensive or supportive treatment, the patient with the highest exposure of 3.1 Gy died due to acute respiratory distress syndrome and multi-organ failure on Day 16 after hospitalisation. The incident highlights the current gaps in the knowledge, infrastructure and legislation in handling radioactive materials. Medical institutions need to formulate individualised triage and management guidelines to immediately respond to future public radiological accidents.

Scrap and Storage Markets in the Gulf of Mexico—IV. Conceptual Economic Models

Near the end of the production life of every field, a number of important decisions have to be made regarding divestment and abandonment strategies. In the final part of this series, the authors describe the factors and tradeoffs involved in end-of-life business decisions and introduce conceptual economic models to illustrate divestment timing and decommissioning decision making. Spreadsheet models are used to illustrate the economic models.

Scrap and Storage Markets in the Gulf of Mexico—III. Process Workflows and Industry Structure

The scrap metal and storage markets associated with platforms and drilling rigs are one of the least-publicized sectors of the energy industry. Structures, rigs, and marine vessels contribute to scrap supply in coastal communities and is an important sector for many regional economies, but relative to aggregate scrap sources are considered marginal contributors to total supply. In part three of this four-part series, we follow offshore structures through the scrap process and review conditions that affect the competitiveness of regional markets. Factors that impact scrap metal price are examined. We conclude with a brief overview of the industry players in the US scrap market.

Scrap and Storage Markets in the Gulf of Mexico—II. Disposal Alternatives

In the second part of this four part series on the scrap and storage markets in the Gulf of Mexico, the disposal alternatives that are available for each of the components of an offshore structure are examined. Every component of an oil and gas structure follows a unique path during its life cycle, from fabrication through installation, decommissioning, and eventually, disposal. Typical component pathways for the main elements of offshore structures are outlined. We also review the scrap and storage market characteristics along the Gulf Coast.

Steel Scrap Markets in Europe and the USA

The objective of this paper is to provide an overview of the market for steel scrap (or ferrous scrap) for steelmaking. A simple theoretical discussion of scrap markets is outlined, and constitutes ...

Markets in ferrous scrap for steelmaking

The global scrap market supplies 40% of ferrous material used for steelmaking. Scrap is consolidated up a tier of processors. World prices for scrap are set in the USA and transmitted through dockside trading. British and American scrap markets have become more closely cointegrated over time, with fewer price differences owing to short run seasonal variations.Scrap prices regularly halve and double. The scrap market is also affected by episodic price 'bubbles' and occasional price crashes. These are rare and transient features of the market. The rise of US minimills and growth in Far Eastern demand have not caused any structural breaks in the behaviour of markets. Statistical tests suggest there is no long run relationship between scrap prices and energy prices.Recycling works on a global basis. There is scope for closer collaboration between steelmakers, scrap suppliers and manufacturers to promote re-use, remanufacture and recycling through careful initial design and material selection.

Modeling Geographic Ferrous Scrap Markets: Regional Prices and Interregional Transactions in the United States*

. The U.S. Regional Ferrous Scrap Model analyzes spatial variations in prices for two grades of ferrous scrap using a logistic model of choice under differentiated products. The model uses a computer-generated equilibrium framework to solve for prices that support the observed spatial distribution of supply and demand quantities. This paper presents the model's formal structure and its solution algorithm. The model specification is highly disaggregated with 1,212 supply and 240 demand regions. Characteristics of the equilibrium solution are described for prices and interregional flows. Sensitivity of equilibrium values to changes in model parameters is reported.

The Term Structure of Second-hand Prices: A Structural Partial Equilibrium Model

Since the pioneering work of Koopmans (1939) and Mossin (1968) in Maritime Economics, the market for new vessels, the market for second-hand vessels, the freight rate market and finally the market for scrap have been considered as different markets where price is formed under the laws of supply and demand. In this paper, we consider the prices of new vessels and the charter rates as sufficient statistics for the value of second-hand vessels. Using modern finance theory, we derive a closed formula for the prices of second-hand vessels taking into consideration their Real Option value. We introduce two explanatory variables for second-hand prices and derive equilibrium prices in a partial equilibrium framework. Our model fits the data and provides some structural insight into the functional form of second-hand prices.

Forecasting using a periodic transfer function: with an application to the UK price of ferrous scrap

The familiar concept of cointegration enables us to determine whether or not there is a long-run relationship between two integrated time series. However, this may not capture short-run effects such as seasonality. Two series which display different seasonal effects can still be cointegrated. Seasonality may arise independently of the long-run relationship between two time series or, indeed, the long-run relationship may itself be seasonal. The market for recycled ferrous scrap displays these features: the US and UK scrap prices are cointegrated, yet the local markets exhibit different forms of seasonality. The paper addresses the problem of using both cointegrating and seasonal relationships in forecasting time series through the use of periodic transfer function models. We consider the problems of testing for cointegration between series with differing seasonal patterns and develop a periodic transfer function model for the US and UK scrap markets. Forecast comparisons with other time series models suggest that forecasting efficiency may be improved by allowing for periodicity but that such improvement is by no means guaranteed. The correct specification of the periodic component of the model is critical for forecast accuracy.

Modelling the Great Lakes freeze: forecasting and seasonality in the market for ferrous scrap

The paper offers a methodology for modelling seasonality in a volatile commodity market. It gives a practical example of the way seasonal factors can be incorporated into industrial forecasts.Recycled ferrous scrap is a widely traded commodity used in the steel and foundry industries. This paper considers the problems of forecasting scrap prices in the US market. Scrap prices display seasonal behaviour as a result of weather and patterns of industrial production. We consider various ways of modelling this seasonality, use of seasonal vector autoregression, the concept of seasonal integration and the use of dummy variables. A seasonal vector autoregression (VAR) is developed. Here the quarterly series is decomposed into four annual series, one for each quarter. We regress each of these resultant series on its own lags and lags of other series, so developing a periodic autoregressive model. A series of tests enables us to determine the type of seasonality exhibited by the data.The simplest form of seasonal adjustment using seasonal dummy variables turns out to be the best for forecasting US scrap prices. Use of the test procedure suggests that employing seasonal dummies is the correct specification in this case.Inclusion of seasonal effects usually improves the estimation and forecasting performance of time series models. Comparison of a range of alternative forecasting models suggests a periodic autoregression only forecasts satisfactorily in the short run. ARIMA models with seasonal dummies show the best performance. A long lag length is necessary to capture long run cyclical effects.

Characterization of dry deposition associated with fire in plastic scrap market of West Delhi

Abstract Samples of dry deposition were collected at National Physical Laboratory during a fire incident occurred at Jwalapuri, a plastic scrap market located in west Delhi. About 2500 shops were gutted in this fire and almost 1 4 th of the city was affected by the plume. The collected samples were analyzed for Cl, NO3, SO4 and NH4. pH and Electrical Conductance of the samples were also measured. Data showed that deposition of Cl, SO4, NO3 was significantly higher than the normal conditions as reported earlier. It was estimated that respectively 21, 11, 16 and 0.2 tones of Cl, SO4, NO3 and NH4 were deposited by dry removal process during this fire incident.

Characterization of dry deposition associated with fire in plastic scrap market of west Delhi

Samples of dry deposition were collected at National Physical Laboratory during a fire incident occurred at Jwalapuri, a plastic scrap market located in west Delhi. About 2500 shops were gutted in this fire and almost 1 4 th of the city was affected by the plume. The collected samples were analyzed for Cl, NO 3, SO 4 and NH 4. pH and Electrical Conductance of the samples were also measured. Data showed that deposition of Cl, SO 4, NO 3 was significantly higher than the normal conditions as reported earlier. It was estimated that respectively 21, 11, 16 and 0.2 tones of Cl, SO 4, NO 3 and NH 4 were deposited by dry removal process during this fire incident.