Section 179
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment during the tax year.
Fast Facts about the Section 179 tax deduction:
- Tax code created to help businesses.
- Valid on most types of equipment.
- Can greatly help your bottom line.
- Simple to use.
- Enhancements typically expire at year’s end.
- There is simply no better time than now.
Global crude steel production increases
Global crude steel production increases
The 66 countries reporting to the World Steel Association (Worldsteel), Brussels, produced 145.3 million metric tons of crude steel in October 2017, a 5.9 percent increase compared with October 2016.
The crude steel capacity utilization ratio of the 66 countries in October 2017 was 73 percent, which is 3 percentage points higher than in October 2016. However, compared with September 2017, it is 0.6 percentage points lower.
imports of finished steel products by the US to grow
Imports of finished steel products by the US to grow
Based on the year-to-date import trends, the American Institute of Iron and Steel (AIIS) has predicted the total imports of finished steel products by the US to grow by nearly 16% during the entire year 2017.
As per data, finished steel imports by the country are likely to total 30.520 million net tons (Mt), significantly higher by 15.9% when matched with the yearly import total of 26.338 Mt in 2016.
The average finished steel imports during the current 3-month period from July to September 2017 based on preliminary imports has recorded 3.7% decline when matched with the rolling average of actual imports during the prior three months from April to June ’17.
Read entire article: http://www.scrapmonster.com/news/us-finished-steel-imports-forecast-to-grow-by-16-in-2017/1/66182
Global stainless steel production registered 5% jump
Global stainless steel production registered 5% jump
The International Stainless Steel Forum (ISSF) has released the production statistics for the first half of 2017. As per ISSF data, the global stainless steel production registered 5% jump during the first half-yearly period of the year, upon comparison with the corresponding initial six-month period in 2016. However, the stainless steel melt shop production during the second quarter of 2017 declined marginally by 2.4% over the first quarter of the year. (more…)
As Scrap Business Booms, Scrapyard Dangers Come into Focus
As Scrap Business Booms, Scrapyard Dangers Come into Focus
A bulldozer tears into 220 Hudson St. Photo by Thomas Hammond
Combustion is the main hazard haunting scrapyards — a ghost that exacted its vengeance on a Cayce scrapyard. There are several dangers but there are also several industry’s best practices to stay safe.
Federal regulation requires a vehicle to be bled dry before it gets shredded, but while it sits in the yard it can be as combustible as the scrapyard operator wants to risk. In those wastelands of junk vehicles, often known as pull-a-parts, a person could drive their car straight into the yard and the facility would accept it, Wolff notes.
National Manufacturing Day 2017
National Manufacturing Day 2017
Manufacturing Day℠ is a celebration of modern manufacturing meant to inspire the next generation of manufacturers. Manufacturing Day occurs on the first Friday in October — this year Manufacturing Day is Oct 6, 2017.
“National Manufacturing Day helps call attention to the critical role recyclers play in America’s overall economy and the variety of ways recycling affects one’s everyday life,” says Robin Wiener, president of ISRI. In doing so, the industry has become a thriving economic engine, job creator, resource of sustainability, energy savings and global trade.” ISRI says that since the dawn of civilization and the earliest attempts at manufacturing, humans have recognized the intrinsic value of scrap and the benefits associated with using and reusing existing products to create new goods.
The scrap recycling industry has made many contributions to the U.S. economy, according to ISRI:
- generating nearly $16.5 billion in export sales to 155 countries;
- directly and indirectly employing approximately 534,000 workers in 2016;
- generating nearly $117 billion annually in economic activity;
- drawing in $13.2 billion in revenue for federal, state and local governments; and
- lowering energy costs by producing recycled materials that require less energy during the manufacturing process than virgin materials.
Read entire article: http://www.recyclingtoday.com/article/isri-recycling-key-to-manufacturing/
Learn more about Manufacturing Day: http://www.mfgday.com/
News around the World: Germany
News around the World: Germany
In its most recent “Copper Mail” write-up, Aurubis says the value of copper reached a “multiyear high” in August 2017 and adds, “Since nothing sensational occurred on the copper market in the past four weeks, investors’ new-found interest can likely be attributed to expectations.” In terms of market fundamentals, the copper producer says speculators are foreseeing “good demand [in the face of] inadequate production.” Aurubis also points to the weak U.S.
Aurubis comments that China’s government is indicating “there are supposed to be three regulation lists – ‘forbidden,’ ‘limited’ and ‘permissible’ – for [scrap grades] that are affected by possible import bans or restrictions.” These lists will be applied to grades “for which additional treatment or disassembly before processing in a smelting furnace is required, or for which the copper content is relatively low.” Aurubis continues, “In the copper sector, materials with customs tariff codes (HS Code) in Group 7, such as cable, wire scrap and motors, are expected to be on the ‘limited’ list.” Grades such as No.
Read entire article: http://www.recyclingtoday.com/article/aurubis-copper-recycling-pricing-august-2017/