The global economic meltdown and a shift in commodity prices are killing the market for recycled goods. A ton of copper scrap now sells for $3,000, down from more than $8,000 in 2007, tin now sells for $5 a pound, down from $300. Paper is down 80%, reports the New York Times. The prices of plastic bottles have fallen off a cliff too.
Recycling plants in the United States and China are facing massive losses. SA Recycling in the United States took a $10 million loss. China which imports more trash than anywhere in the world is now accepting less because it doesn’t make as much money from trash now. The result is that fewer items will be recycled, and more municipalities will cut back back on recycling programs once they start losing money on them.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.