Alconix Corporation, Japanese nonferrous metals trader, announced on Monday the firm establishes a joint venture in Tianjin City, China in August 2007 to recycle used vehicles with 2 local recycling manufacturers. The JV’s capital is 2 million yuan or 32 million yen, 40% controlled by Alconix. The JV will collect and scrap used automobiles, recycle metal scrap generated from used automobiles, utilize recycled materials, sell and trade nonferrous metals in and from China.Chinese government encourages the establishment and development of domestic recycling-oriented economic system. In addition Alconix expects a number of registered automobiles in China will reach 70 million units around 2010 and old-generation vehicles will be disposed soon.In Tianjin there are 1.2 million automobiles currently and the number is expected to grow up by 10% per year. Alconix plans to bring Japanese auto recycling know-how into Chinese existent recycling plants in co-operation with local recycling manufacturers.
Japan Steel Scrap Composite Prices (Sangyo Press)03/26/2020
|20000YEN (-)||22000YEN (-)|
|178.94US$ (0.62)||196.83US$ (0.68)|
* Average of electric furnaces steel maker's purchasing price in Tokyo, Osaka and Nagoya (per ton)