Lancashire-based scrap metal recycling firm Maxilead Metals has started boosting its ferrous metal exporting on the back of increased international demand.
According to the company, it has sent 11,000 tonnes of ferrous material to Singapore, India and Bangladesh since it began exporting two and a half years ago.
Collecting and processing near 60,000 tonnes of waste metal from households and organisations around the UK annually, 7% of Maxilead Metals’ material is now disposed of via export to these destinations.
Maxilead Metals managing director Tom Clay said: “With China announcing tightened restrictions on imports of foreign waste from March onwards, the recycling industry is now looking to the Southeast Asian region as an alternative location for refining scrap materials.
“We have already been working in partnership with reclaimers and steel mills in Southeast Asian countries since July 2015. This means that we are able to avoid the disruption to operations that might be experienced by other exporters, which is critical for us during a period when we — and much of the industry — are busier than ever.”
He added that global financial performance increase Government and private investment, boosting incomes and purchase of consumer goods.
“The old goods are sent for recycling and this scrap is often exported to Asian countries — a region where the new goods are frequently manufactured. It’s a circular economy, and one that is growing due to lots of different factors; increased household incomes, government spending and the introduction of the car scrappage schemes are a few main examples.”
He said that he expects this rise in demand to continue throughout 2018 as more people and businesses realise the environmental benefits to recycling scrap metal.