{"id":44198,"date":"2022-06-07T12:17:51","date_gmt":"2022-06-07T06:47:51","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=44198"},"modified":"2022-06-07T12:19:27","modified_gmt":"2022-06-07T06:49:27","slug":"formalities-for-copper-scrap-trading","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/","title":{"rendered":"Formalities for Copper Scrap Trading"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Copper is the third most crucial base metal by value, accounting\nfor roughly a $130 billion industry annually worldwide. One of the key\nchallenges in the domestic industries has been the heavy dependence on copper\nscrap imports. Copper Scrap trading involves trading in copper scrap through its\ncollection and physical separation of the metal and employing machinery to\nextract\/reclaim the metal from the copper-containing objects\/ alloys. There are\ntwo categories of copper scraps found in the Copper Scrap Trading market.<\/p>\n\n\n\n<p><strong>Old copper scrap<\/strong>: It is collected from discarded, dismantled or obsolete or end of their lives products that contain copper. For example, old copper pipes from buildings, old taps, discarded electrical cables, ship breaking, used brass cartridges, radiators, mixed railway scrap, <a href=\"https:\/\/corpbiz.io\/epr-authorization-for-e-waste\"><strong>e-waste <\/strong><\/a>etc.\u00a0 This copper scrap is categorised as\u00a0old\u00a0or obsolete and is obtained from materials that have ended their use. This type of scrap often needs sorting, deconstruction, and sometimes refining.<\/p>\n\n\n\n<p><strong>New copper scrap:<\/strong> It comes from factories that make articles from copper, for\nexample, cut and unusable wires, waste from forgings, castings, and fabrication\nworks, shavings and discards from copper sheets etc., when the machines produce\noffcuts and other metal waste.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/#Export_and_Import_of_Copper_Scrap_in_India\" >Export and Import of Copper Scrap in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/#Governments_initiative_to_promote_the_Copper_Scrap_Business\" >Government\u2019s\ninitiative to promote the Copper Scrap Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/#Copper_Scrap_Trading_in_India\" >Copper Scrap Trading in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/#Industries_using_scrap_copper_through_Copper_Scrap_Trading\" >Industries using scrap copper through\nCopper Scrap Trading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/#How_to_start_Copper_Scrap_Trading\" >How to start Copper Scrap\nTrading<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/formalities-for-copper-scrap-trading\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Export_and_Import_of_Copper_Scrap_in_India\"><\/span>Export and Import of Copper Scrap in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>India is a net exporter of copper scrap. While copper scrap\nexports, as well as imports, have shown a decreasing trend in the year 2020,\nthis can be attributed to the fact that manufacturers are now given a higher\npriority than the traders due to the regulations from Customs authorities. Some\nof the top countries where India imports copper waste and scrap are the USA,\nSaudi Arabia, Germany, the UK, and the UAE. In 2018, the tariff in India for\ncopper was 4.88%. It was reduced to 2.5 % in 2021. In January 2022, Assocham\nrequested to reduce this to zero as a means to ease the formalities for copper\nscrap trading. For importing copper scrap for trade into India, the importer\nmust adhere to the regulations notified by the Customs Agency.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Governments_initiative_to_promote_the_Copper_Scrap_Business\"><\/span>Government\u2019s\ninitiative to promote the Copper Scrap Business<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Ministry of Mines in 2020 issued the National Non-Ferrous Metal Scrap Recycling Framework for scrap metal recycling to promote a formal and well-organized recycling ecosystem. Under this framework, necessary formalities for copper scrap trading like an online market platform for scrap metals like copper will be developed. This will, in turn, facilitate auctions of metal scrap, <strong>WEEE<\/strong><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Waste_Electrical_and_Electronic_Equipment_Directive\"><strong>[1]<\/strong><\/a><\/sup> and end of life machines that use copper between organisations and scrap distributors\/aggregators. Metal scrap start-ups will also be facilitated under this framework.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Copper_Scrap_Trading_in_India\"><\/span>Copper Scrap Trading in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Mentioned below\nare some of the Formalities for Copper Scrap Trading in India.<\/p>\n\n\n\n<p><strong>Types of Copper Scraps found in the Indian Market.<\/strong><\/p>\n\n\n\n<p>The following types of scrap are usually found in the Copper Scrap\nTrading and can fetch returns depending on the type and purity of the scrap.<\/p>\n\n\n\n<ul><li>Copper\nWire Scrap<\/li><li>Millberry\nCopper Scrap<\/li><li>Copper\nCable Scrap<\/li><li>Copper\nPipe Scrap<\/li><li>Copper\nSheet Scrap<\/li><li>Copper\nAsh<\/li><li>Heavy\nMelting Copper Scrap<\/li><li>Copper\nNickel Scrap<\/li><li>Copper\nTurnings<\/li><li>Nickel\nCopper Alloy Scrap<\/li><li>Copper\nCathode Scrap<\/li><li>Copper\nPlate Scrap<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Industries_using_scrap_copper_through_Copper_Scrap_Trading\"><\/span>Industries using scrap copper through\nCopper Scrap Trading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Many Industries use copper scraps in place of copper ores as it is\ncomparatively cheaper than procuring pure copper. The following industries make\nuse of copper scrap.<\/p>\n\n\n\n<ul><li>Industries\ninvolved in the smelting process<\/li><li>Refining\nIndustries<\/li><li>Hydromet\nPlants<\/li><li>Direct\nmelting of Copper<\/li><li>Industries\nmaking Copper ingots<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_start_Copper_Scrap_Trading\"><\/span>How to start Copper Scrap\nTrading<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Like any other metal scrap trading business, copper scrap trading involves\nthe following pre-production steps.<\/p>\n\n\n\n<p><strong>Thorough market research:<\/strong> Identifying the source of scrap and the collector\u2019s demand for\nthe scrap, scrap copper prices in different sectors of the market, the cost\ninvolved in transportation etc., can be some of the factors that need proper\nresearch before deciding to enter into copper scrap business.<\/p>\n\n\n\n<p><strong>Learning deconstruction techniques<\/strong>: using deconstruction techniques to obtain the copper from scrap\nis an essential part of formalities for Copper Scrap Trading. For instance,\nextracting copper from waste\nelectrical and electronic equipment (WEEE),<em> tangled and discarded old<\/em>\npower cables, old transformers, motors and other electrical equipment needs\ncost efficient deconstruction techniques to extract copper made components. A\nprofitable way of deconstruction is one of the key formalities for copper scrap\ntrading and can require skilled labour and machinery.<\/p>\n\n\n\n<p><strong>Machinery<\/strong>: Generally, copper scrap comes as discarded copper coils of the motor\nand used wires. Discarded wires have to be stripped of the insulation coating\nby using copper wire recycling machines that can shred and crush separating\ncopper and insulation plastic\/rubber from the mix. An electrostatic separator\nwhich works on the principle of differential attraction and repulsion of ions\ncan be used to separate the remaining copper from the plastic.<\/p>\n\n\n\n<p><strong>Space and location of the Unit<\/strong>: a scrap business would need a spacious place to set up the\nbusiness as storage of scrap needs space. Along with that, proximity to the\ncollection points will mean lesser expenses on transportation, thereby achieving\nthe transportation formalities for copper scrap trading.<\/p>\n\n\n\n<p><strong>Certification by the Governmental\nAgencies<\/strong>: Although\ncopper is not a hazardous substance, recycling the metal from e-waste and electric\nwires involves processing the scrap through machines such as an oil-fired\nfurnace. A trader needs to obtain the necessary certification and consent from\nthe SPCB\/PCC as formalities for copper scrap trading.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Market studies have proven that it is cheaper to recycle copper than to mine and extract new copper. Recycled copper is worth up to 90% of the cost of the original copper. Recycling helps to keep the cost of copper products down as Recycling copper uses 15 % of the energy that would be used to mine and extract the same copper. India might capitalise on these stringent restrictions and allow imports of secondary materials with lower metallic content and simplify existing formalities for copper scrap trading. The Make in India Initiative of the government has also led to the growth of specific industries like Electric vehicles and its supporting infrastructure, which heavily relies on the use of copper. The reduction of import duty on copper scrap will help units involved in copper scrap trading in the country.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our Article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/draft-of-e-waste-management-rules\/\">Draft of E-waste Management Rules\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Copper is the third most crucial base metal by value, accounting for roughly a $130 billion industry annually worldwide. One of the key challenges in the domestic industries has been the heavy dependence on copper scrap imports. Copper Scrap trading involves trading in copper scrap through its collection and physical separation of the metal and [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":44200,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[888],"tags":[2406],"acf":{"service_id":"491"},"authorName":"Shalin Verma","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/05\/MicrosoftTeams-image-16.jpg","authorDescription":"Shalin is a Postgraduate in Applied Sciences from the University of Delhi with a specialisation in Wildlife Forensics. He has an in-depth knowledge of the environment domain and keen interest in curating informative content. Some of his research work includes research on environmental science and transboundary wildlife offences.","postViews":7324,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/44198"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=44198"}],"version-history":[{"count":18,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/44198\/revisions"}],"predecessor-version":[{"id":44217,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/44198\/revisions\/44217"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/44200"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=44198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=44198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=44198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}