Company: SEAH
Filing Date: 2025-11-24
Form Type: F-1/A
Source: 0001213900-25-113788
Chunk: 87

Company: Seahawk Recycling Holdings, Inc.
Filing Date: 2025-11-24
Form: F-1/A
Chunk 87
---
, and structural materials. Commercial generators encompass retail businesses, office complexes, and service providers disposing of appliances, Heating, Ventilation, and Air Conditioning (“HVAC”) systems, and electronic equipment. Residential sources contribute through municipal collection programs and individual consumers delivering materials to collection points. Primary collectors form the critical first link, including independent scrap dealers, peddlers, and municipal waste management entities who gather materials directly from generators. These collectors interact with scrap yards and metal merchants who aggregate volumes from multiple sources, perform initial sorting by metal type and grade, and prepare materials for sale to processors. The midstream segment encompasses both direct processors and intermediary traders who coordinate metal recovery operations. Direct processors operate scrap processing and metal recovery facilities that transform collected materials into specification -gradecommodities through mechanical processing including shredding, magnetic separation, eddy current systems, and sensor -basedsorting to segregate ferrous from non -ferrousstreams and remove contaminants. Alongside these direct processors, metal trading companies and processing intermediaries play a crucial coordinating role. These firms purchase already sorted or processed scrap materials from suppliers. They maintain relationships with dismantling and demolition contractors, and processing facilities who perform the physical work under service agreements. These intermediaries focus on procurement, quality management, and market development. Their value proposition lies in market knowledge, customer relationships, and supply chain coordination rather than processing assets. The downstream segment comprises secondary smelters, refineries, and end -usemanufacturers who consume processed scrap as feedstock. Steel mills utilize ferrous scrap in electric arc furnaces and basic oxygen furnaces, blending it with iron ore to produce new steel products. Non -ferroussmelters and refineries process aluminum, copper, zinc, and lead scrap through re -meltingand electrolytic refining to achieve desired purity levels. Foundries and specialty alloy producers consume both ferrous and non -ferrousscrap to manufacture cast products and engineered materials. 59 Market Size Japan’s domestic metal scrap purchase volume refers to the total tonnage of iron and steel scrap that downstream players i.e. secondary smelters, refineries, and end -usemanufacturers buy within the country each year, excluding exports scrap. It represents the total potential handling volume of metal trading and processing companies serving domestic demands. Japan’s domestic ferrous scrap purchase volume demonstrated relative stability from 2019 to 2024, declining modestly from 22,336 thousand metric tons to 20,983 thousand metric tons. The reduction over the five -yearperiod reflects a measured adjustment rather than