As I’m sure we all know steel prices have been on a consistent rise for many years now. This is largely due to the inflation rate, the price of oil and the differences in currencies used by suppliers, manufacturers and distributors around the world. What many people don’t realise though is that similarly to glass, plastic and paper – metals can be recycled as well so as to offset the ever-increasing steel prices, whilst benefiting the environment and helping companies meet CSR objectives too.

The Virtual Steel Mill

This brilliant concept was conceived in China where the population is on a constant rise and there is an exceeding need to build homes, offices and amenities. The Virtual Steel Mill utilises derivatives such as coking coal, iron ores and scrap metal to cut the costs of the raw material conversion and, in turn, reduce steel prices. These derivatives are then used in the steel supply chain to reduce the amount of materials and fuels required for various steps of the process.

How we Benefit from Recycling Steel

With an overall reduced cost in the steel supply chain, suppliers and distributors like us can pass these awesome savings directly onto you and reduce the steel prices that you have to pay. This is the primary role of the virtual steel mill and similar initiatives. Although by recycling and reusing materials required in the steel supply chain, as mentioned, we are helping the environment too – by reducing the amount of undesirable scrap materials and reducing the amount of raw materials that are mined each year. This essentially allows us more materials for building our bright futures and keeps the general steel prices more consistent and less volatile.

So next time you think about just throwing out your broken washing machines or fridges, think about the future of steel prices and find out how you can recycle rather than waste. Steel prices heavily influence the costs for many appliances, buildings, vehicles and even have an impact on taxes. As such it should really be taken as seriously as recycling paper, plastic, glass and other materials.

For some of the most competitive steel prices in South Africa visit www.GenesisSteel.co.za and view our fantastic products on offer. We also offer galvanised steel and related services, plus our team is always available to assist you with your specialised product requirements.