Financial Tsunami Crushes Recyclables Market

by Mr. TC Yee

Downturn hits waste industry
4:00AM Monday Mar 02, 2009
By Eloise Gibson

Many Third World companies that use global recycling markets are in trouble. Recyclers are struggling to find a profitable use for our used bottles and containers as the global downturn hits demand for recycled materials.

Source: Downturn hits waste industry [The New Zealand Herald]

Recyclers fear collapse of industry
Adam Morton March 24, 2009

Recycling is not sustainable with the state's low levy and lack of regulation, says Roy Woodhouse of the National Recycling Group.
A LEADING industrial waste recycler has told Premier John Brumby it faces closure, with the possible loss of 60 jobs, unless the Government stops recyclable rubbish going to landfill.

Source: Recyclers fear collapse of industry [The Age]

A green opportunity

China's multi-billion-dollar recycling industry was one of the first casualties of the global recession. The drop in the price of recycled materials was so sharp that boatloads of scrap shipped from Europe and the US were virtually worthless by the time they reached China.

Source: A green opportunity [China Daily]

Personal View: Alongside with the financial tsunami, the global commodity market also suffered an unprecedented correction. Few months ago, we already heard the outcry from local recycling contractors who faced fast dwindling off-take of their sorted/processed items. The similar increasing concerns raised from different corners of the world reinforced the bad news for the recycling industry. In good days with high demand on all sorts of raw materials, businesses simply reckoned that by encouraging proper and selective disposals of re-usable items such as printed papers, soft drink cans and plastic packing, the corporate green responsibility could have been fulfilled. Now the recycling contractors everywhere are facing an unknown business future with the only survival strategy to trim their in-take from clients. The scenario for Hong Kong would probably be more indiscriminate dumping to our already shrinking landfill sites. Could there be any sustainable green opportunity providing solutions to both waste disposal and job creation – an uphill battle for the HKSAR Government and local businesses?