Slideshow December 2008

Where America Recyles

A look at some of China's major metal processing plants.

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The world’s largest inventory of steel scrap is located 2.5 hours north of Shanghai, on the banks of the Yangtze. In December 2007, company officials confidently assured me that they had 200,000 mt of material on the ground, of which 40% was imported. From July to early November 2008, that inventory lost more than 50% of its value, with most of the decline occurring in the month of October 2008.

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Adam Minter is the Shanghai correspondent for the Bloomberg World View blog. He is writing a book about the globalization of the scrap recycling industry for Bloomsbury Press.

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