China sought to discard the term “scrap” by officially renaming certain copper scrap products as “recyclable copper raw materials”.
- In recent events, the Bureau of International Recycling advocated China’s move.
- The Bureau of International Recycling (or BIR) would seek further clarity with Chinese officials on the definition and specifications of importable scrap.
- In Chinese, the word scrap and waste are interchangeable, which in turn, undermines the value of high-quality scrap metal.
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Those phrases have become increasingly common as marijuana legalization spreads.
Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.
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