I heard this peculiar story about 20,000 bicycles are fished from the canals.
Found a video that show how its fished out
It's tragic, why can't they be recycled?
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Why do you think they aren't recycled? EU legislation is pretty strict on what can go in landfill and it would be very surprising if the bikes fished out of the canals aren't recycled (i.e., melted down and the metal used for something new). 20,000 bikes is going to be at least 200 tons of scrap metal.
After being underwater for a while, the bikes are probably sufficiently badly damaged that their parts can't be re-used: components such as bearings would probably be damaged beyond economical repair and structural components such as the frame and wheels would have corroded to an unknown amount and can't be guaranteed to be safe.
so the bikes might not get recycled because the bikes have been in the canal so long that the bike parts deteriorate and corrode to the point of not being fixable. Now, I have never been to amsterdam and don't plan on it, but it could possibly salt water, and salt water is a moving part's worse nightmare.