Scrap Metal Recycling and the Canadian EconomyPosted on 12 October 2015
Scrap metal recycling can be a lucrative and exciting hobby for many Canadians. Collecting scrap metal for sale is a little like playing the stock market because of the variable prices at play. The top collectors will pay attention to current market prices, forecasts, and analyst reports to get the best price for their scrap metal. Scrap metal recycling in Canada recently got a huge boost with the signing of the Trans Pacific Partnership (TPP), a monumental trade agreement that has placed Canada in a unique position as the only G7 country that has essentially tariff free trade access to the U.S., South America, Europe, and Asia-Pacific (this includes Australia). What does a new trade agreement mean for Canadians who are interested in pursuing scrap metal recycling?
To maximize your income while recycling scrap metal, there are numerous factors at play, and global demand is one of the largest in determining scrap metal prices. Thanks to the TPP, scrap metal recycling in Canada got a huge boost. Canada was already a leader in the import of scrap metal, trailing only Germany in the global market share. Recently, scrap metal recycling has taken a hit as global prices have dropped due to decreased demand and the continued increase in the cost of transport. Now that Canada has signed onto the TPP, the doors to over 800 million people who are worth $30 trillion in consumer spending have been opened.
Recycling benefits the Canadian economy in numerous ways. The metal recycling industry is estimated to employ around 40,000 people directly and another 120,000 indirectly. By contributing to scrap metal recycling, you also greatly reduce the output of greenhouse gases by the Canadian economy. Scrap metal recycling reduces the amount of harmful greenhouse gas emissions produced during the metal smelting and manufacturing process. Scrap metal recycling also greatly reduces energy consumption to produce metal. In recent years, the Canadian economy has been criticized for its high output of greenhouse gases and lack of progressive practices. By contributing to scrap metal recycling, you not only help to support the economy by creating jobs for other Canadians, but you help contribute to a more sustainable economical practice in Canada.
Scrap metal recycling also helps to conserve the state of our environment. Mining and other extraction industries are very degrading on the environment and produce a great deal of harmful waste as a result of the refining and smelting process. Most mining developments are massive in scale and require decades of cleanup. By contributing to scrap metal recycling, you’re reducing the demand for metal that needs to come out of the ground.
The future looks bright for scrap metal recycling. The economic impacts of the TPP will be felt by many industries, and scrap metal recycling and export is sure to be one of them. Scrap metal recycling contributes to a more positive environmental and sustainable Canadian economy. If you’re interested in getting involved in scrap metal recycling, contact TAL Metal Inc. to get started today.