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The global scrap market Presentation at the Joint Study Groups workshop on Metals Recycling St' Pete

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What drives international trade flows for scrap and virgin metal? ... gap has driven up Indian battery scrap prices to between two and three times the ... – PowerPoint PPT presentation

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Title: The global scrap market Presentation at the Joint Study Groups workshop on Metals Recycling St' Pete


1
The global scrap market Presentation at the
Joint Study Groups workshop on Metals
Recycling St. Petersburg, 10-12 September 2003
  • Olle Östensson, UNCTAD
  • www.unctad.org/infocomm
  • www.natural-resources.org

2
Questions
  • What drives international trade flows for scrap
    and virgin metal?
  • How has the role of developing countries in
    global metals trade changed?
  • Is international trade in scrap economically
    efficient?

3
The location of semifabricating capacity
  • Shift in manufacturing from developed to
    developing countries, largely based on FDI
  • Accordingly, rapidly growing demand for metal
    semifabricates in developing countries
  • Large domestic market provides base for export
    growth

4
Developing countries have become important
exporters of semifabricates
5
Increasing shares in an expanding market
6
The increase in semifabricates production is
reflected in metals consumption
7
Trends in Metal Consumption
8
Trends in Intensity of Use of Non-ferrous
Metals (percentage, 1975 100)
9
What are the raw materials for developing
countries metals consumption? Primary…
10
…and secondary
11
Is the mix of raw materials optimal?
  • Scrap may be a preferred raw material in
    developing countries because of lower size
    threshold
  • Lower labour costs should give developing
    countries a competitive advantage in recycling
  • Avalability of domestic scrap is low because of
    rapidly rising metals consumption

12
Recycled materials are becoming more important as
a source of supply Share of recovered material in
global supply of primary and secondary commodities
13
But this is not reflected in international trade
14
Regional Patterns of International Trade
in Non-ferrous Metal Scrap
15
Developing countries  should  import a higher
proportion of scrap
16
Supply-demand gap of secondary material in
rapidly industrializing countries
17
Why does this not happen?
  • Situation differs from one metal to another
    aluminium and copper perform better than lead and
    zinc
  • Regulations inhibit trade Basel Convention and
    domestic regulations
  • Note Are scrap export bans based on the Basel
    Convention compatible with WTO rules?

18
Results
  • Scrap shortage in developing countries
  • Scrap oversupply in developed countries
  • Large price differentials

19
But perceptions differ…
  •  It is easier to export cable scrap from
    Switzerland to Asia than to send it to Munich 
  • (Rita Dapont, MD of Metall-Verwertung München
    Hans Gschwendtner, Metal Bulletin Monthly, August
    2003)
  •  the domestic supply-demand gap has driven up
    Indian battery scrap prices to between two and
    three times the international level… 
  • (A. Raychaudari and U. Hoffmann, The case of used
    lead acid batteries in India)
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