WHAT'S
SCRAP METAL?
Millions
of tones of Scrap Metal are processed every year, examples being cars, appliances, pipes, electrical wires and many
other types.
Scrap
metal comes in two types, Ferrous and non
Ferrous. Ferrous only includes steel and iron scrap, Non ferrous is scrap metal other than iron and steel and includes
copper, aluminum, zinc, lead, nickel, titanium, cobalt chromium and precious metals. Ferrous scrap is more readily available
than non ferrous therefore ferrous is less expensive than non ferrous.
Scrap
metal is also categorized using other criteria, as an example ferrous and non ferrous can be grouped into home scrap or purchased
scrap. Home scrap is produced in the mill and is reused by the mill. Purchased scrap can be further classified as either industrial
(new) scrap which is unwanted scrap created in the manufacturing process like when producing a new car, or obsolete (old scrap)
which is worn out scrap like a car that has reached the end of its life cycle. Other examples of obsolete non ferrous scrap
include copper pipes, radiators, catalytic converters etc.
Depending
on supply and demand, prices can fluctuate quite frequently and within short intervales of time.