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Contrary to popular belief, a profitable business model for reused construction steel is not nearly as impossible as one may believe.
Steelmakers have almost perfected the “recycle” element of the four hierarchical elements of the circular economy — reduce, reuse, remanufacture and recycle — with steel recycling rates of almost 90 percent.
Despite the recycling success, however, the steel industry is increasingly facing pressure to decarbonize. Recycling steel is still both energy- and cost-intensive, and both steelmakers and their customers must go further to reduce environmental impacts. One way to do this is to shift to a reuse model.