The
new technology which has the ability to process scrap metal and turn it into
high quality usable steel has made the scrap industry boom from past few years.
These new technology processes is attracting more and more investors and
industrialist.
These
industries which process scrap metal throughout world have increased to match
the demand from the ever increasing demand from the development. The scrap
metal recycling industry is now supported by countries to cover these demands
rather to process the steel from natural resources.
The
biggest demand of steel is from infrastructure development. With the
construction of dams, bridges, roads, residential townships, the steel is base
material required. Most of the demand is from developing countries. With the
increase and development in infrastructure sector, the demand from automobile
industry is also rising for processed steel.
The
increase in demand will result in price of the scrap metal and which in return
affect the prices of process furnished steel in market. The high or low demand
by the scrap recycling industry effect the entire cycle.
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The
scrap recovered from demolition of old industry or fabrication work of
industries mainly known as industrial scrap and scrap recovered from breaking /
dismantling of ships mainly know as ship scrap is in high demand.
The
demand of the scrap depends upon the recovery and the size of scrap. Other than
this scrap is also recovered from domestic usable material mainly known as
domestic metal scrap for recycling or municipal scrap.
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