NewsBits

NewsBits

By Editorial Staff, Resource Recycling

Pending regulatory approval, a ferrous scrap futures contract will be introduced on the Nymex exchange beginning next month. The contract will allow players in the domestic and global ferrous scrap recycling markets to mitigate their pricing risk, the exchange said. The contract will use the scrap index calculated and published by American Metal Market [1] for No. 1 busheling in the Midwest market.

A new report [2] from the Natural Resources Defense Council has found that America wastes 40 percent of its food from "farm to fork to landfill," the equivalent of throwing out $165 billion each year. According to the report, "Getting food from the farm to our fork eats up 10 percent of the total U.S. energy budget, uses 50 percent of U.S. land, and swallows 80 percent of all freshwater consumed in the United States."

Aluminum can recycling in July at 127 million pounds was off 3.7 percent compared to the previous year but up 5.0 percent from the June 2012 level. Year-to-date can recovery at 843 million pounds was down 0.5 percent.

To return to the Resource Recycling newsletter, click here [4].