Steel Recycling Rate Continues Moderate Ascent; Depressed Scrap Value Resulting from Steel Imports

Apr 11, 2001, 01:00 ET from The Steel Recycling Institute

    PITTSBURGH, April 11 /PRNewswire/ -- A quick comparison between the 1999
 steel recycling rates and the 2000 rates might give the impression that
 business improved for the North American steel industry last year; however, as
 unfairly priced steel imports continue to find their way into North America at
 a near record pace, the industry struggles and the price of steel scrap
 remains depressed.
     The overall steel recycling rate managed to rise slightly from
 63.9 percent in 1999 to 64.1 percent in 2000, as more than 70 million tons of
 steel were recycled.  Also advancing a bit was the steel can recycling rate,
 which edged up to 58.4 percent from 57.9 percent, as more than 19.5 billion
 cans were recycled.  The appliance recycling rate received the biggest boost,
 jumping from 77.3 percent to 84.1 percent with almost 2.5 million tons of
 steel recycled from retired appliances.  In addition, the automobile recycling
 rate improved from 91.2 percent in 1999 to 95.4 percent in 2000, as almost
 14.4 million tons of steel were recycled into new steel products.
     The construction recycling rates held fairly steady as steel plates and
 beams matched its 95 percent recycling rate from the previous year and rebar
 and other steel construction material rose from 45 percent to 47.5 percent.
     The rise in recycling rates may be attributed to the strong steel
 recycling infrastructure and greater consumer awareness, which the steel
 industry has helped build during the last 12 years in an effort to recover
 more scrap for the steel making process.  Although the steel recycling rates
 climbed modestly last year, the North American steel industry has witnessed
 many of its producers battle the global over-capacity of steel and unfairly
 priced steel imports, which have forced some to idle furnaces and file for
 bankruptcy.
     "Imports are certainly not the only problem facing the North American
 steel industry, but until the level of unfairly priced imports drops and a
 fair playing field is established, we may see more steel companies file for
 bankruptcy and scrap prices will remain low," commented Bill Heenan, President
 of the Steel Recycling Institute.  "We look forward to the new administration
 making swift, just decisions to curb the dumping of steel into this country.
 As the North American steel industry rebounds, the steel recycling rates will
 likely regain the positive momentum established in past years," Heenan added.
     For more information about steel recycling, please visit the Steel
 Recycling Institute's website, www.recycle-steel.org.
     The Steel Recycling Institute, a unit of the American Iron & Steel
 Institute, educates the solid waste management industry, government, business
 and ultimately the consumer about the economic and environmental benefits of
 recycling steel.  Through its regional offices, SRI works to ensure the
 continuing development of the steel recycling infrastructure.
 
 

SOURCE The Steel Recycling Institute
    PITTSBURGH, April 11 /PRNewswire/ -- A quick comparison between the 1999
 steel recycling rates and the 2000 rates might give the impression that
 business improved for the North American steel industry last year; however, as
 unfairly priced steel imports continue to find their way into North America at
 a near record pace, the industry struggles and the price of steel scrap
 remains depressed.
     The overall steel recycling rate managed to rise slightly from
 63.9 percent in 1999 to 64.1 percent in 2000, as more than 70 million tons of
 steel were recycled.  Also advancing a bit was the steel can recycling rate,
 which edged up to 58.4 percent from 57.9 percent, as more than 19.5 billion
 cans were recycled.  The appliance recycling rate received the biggest boost,
 jumping from 77.3 percent to 84.1 percent with almost 2.5 million tons of
 steel recycled from retired appliances.  In addition, the automobile recycling
 rate improved from 91.2 percent in 1999 to 95.4 percent in 2000, as almost
 14.4 million tons of steel were recycled into new steel products.
     The construction recycling rates held fairly steady as steel plates and
 beams matched its 95 percent recycling rate from the previous year and rebar
 and other steel construction material rose from 45 percent to 47.5 percent.
     The rise in recycling rates may be attributed to the strong steel
 recycling infrastructure and greater consumer awareness, which the steel
 industry has helped build during the last 12 years in an effort to recover
 more scrap for the steel making process.  Although the steel recycling rates
 climbed modestly last year, the North American steel industry has witnessed
 many of its producers battle the global over-capacity of steel and unfairly
 priced steel imports, which have forced some to idle furnaces and file for
 bankruptcy.
     "Imports are certainly not the only problem facing the North American
 steel industry, but until the level of unfairly priced imports drops and a
 fair playing field is established, we may see more steel companies file for
 bankruptcy and scrap prices will remain low," commented Bill Heenan, President
 of the Steel Recycling Institute.  "We look forward to the new administration
 making swift, just decisions to curb the dumping of steel into this country.
 As the North American steel industry rebounds, the steel recycling rates will
 likely regain the positive momentum established in past years," Heenan added.
     For more information about steel recycling, please visit the Steel
 Recycling Institute's website, www.recycle-steel.org.
     The Steel Recycling Institute, a unit of the American Iron & Steel
 Institute, educates the solid waste management industry, government, business
 and ultimately the consumer about the economic and environmental benefits of
 recycling steel.  Through its regional offices, SRI works to ensure the
 continuing development of the steel recycling infrastructure.
 
 SOURCE  The Steel Recycling Institute