US media: China’s ban American waste recycling company has already felt pain
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China has decided to stop its practice for decades and no longer import US waste. This has caused the US waste recycling industry to start worrying about price and business operations may face more changes.
In view of China's latest policy, the two largest solid waste service companies in the United States, the US Waste Management Company and the Republic Waste Treatment Company, have recently lowered their profit expectations for the waste recycling department. China’s new policy has caused an oversupply in the waste market, and global scrap prices have plummeted.
The Waste Recycling Industry Research Institute said that 31% of the US waste was exported to China last year, with a total value of 5.6 billion US dollars. The waste disposal company said: “At present, the amount of waste we export to China is zero. We can still transport waste, but the model has been completely subverted.” The company processes about 6 million tons of paper, glass, plastic and other products every year. article. Before this year, 40% of these scraps were shipped to China, where buyers re-disassembled and made new cartons, packaging materials, toys and other things.
For waste recycling companies, the delivery of waste to China is a low-cost option, as shipping companies often offer discounted prices to ship to China when they arrive at US terminals.
Today, the situation is complicated. New buyers were found in Malaysia, India and other markets, but the number of freighters who are willing to travel directly from the US to these countries is much lower and transportation costs are rising. Global waste prices have plummeted, and most of the scrap that is now sold overseas is losing money. These (rising) costs are likely to be passed on to American families and businesses.
If the localities are unable to create better and more sustainable models, the waste recycling industry will face challenges. "This means that the price of waste recycling in US cities will be higher, and the price paid by households for waste recycling services will double to $7 per month.
Many waste service companies say that customers can help reduce recycling costs through initiatives such as waste sorting. China's New Deal has raised the threshold for pollutants in waste imports, and US waste recycling companies must upgrade their equipment and hire more workers to meet more stringent standards.