According to the Environmental Protection Agency, American disposal of iron and steel alone could supply the country’s car makers with enough of these metals to build all of their vehicles on a continual basis. Indeed, the scrap metal processing business is one of the few industries that profits from recycling. If you have metal scrap that you’d like to turn over for recycling, look into finding a processor in your area. Here are some industry terms.
Alloys – Alloys are a combination of two or more metals, such as copper-zinc brass.
Copper – Copper, which yields a high price, is salvaged from heating and air units, plumbing pipe, electrical wires, tubes, door and window frames and other sources. The U.S. is the world’s biggest recycled copper scrap supplier and provides 21 percent of this commodity.
Destruction – Destruction is the process through which products such as cars and computers are destroyed for the sake of scrap extraction.
Ferrous scrap – Ferrous scrap is made out of iron and steel.
Foundry – A foundry melts metal scrap, casts it and resells it.
Merchant bar – Merchant bar is material used to make railing, furniture and the like.
Nonferrous scrap - Nonferrous scrap by definition contains no iron. Examples include aluminum, lead, tin, zinc, gold and silver. In 2007, the U.S. nonferrous scrap industry was at $38 billion.
Peddler – Someone who salvages scrap and takes it to a processor in exchange for cash is called a peddler.
Scrap processor – A processor is a dealer or business that buys scrap from peddlers and sells it to foundries and mills.
Weight ticket – The weight ticket acts as the record for what kind of metal was sold, at what rate, and how much it weighed.
Recycling is not just good for the planet, but it can also be a good business. There can be value found in various kinds of materials. Many people dispose, with a wealth, of what they consider junk. These individuals are unaware of the value of these items. Even if they were aware, they may not be familiar with the recycling process. Aluminum is a very common metal. You can find it just about anywhere. Just think about how many beer and pop cans you or your family go through in a week. There are other types of metals that can be worth much more than aluminum. There are merchants who specialize in the collection and reuse of metals and alloys. Iron, steel, brass tubes, copper wires and lead pipes can all be collected as scrap and then exchanged for money at a supplier. These dealers know the process for extracting value from scrap. The price may vary from company to company and from state to state. Call a company ahead of time to find out the rates of their scrap metal exchange. You can generally be sure to get a good price on certain alloys, like copper. The destruction of a building can yield valuable materials and salvage opportunities. Some contractors may not want to concern themselves with the disposal of left-over materials from a demolition job and will easily part with unwanted refuse. An enterprising individual can turn waste into cash simply by hauling it away. It can be a lucrative business for buyers and sellers, and it can help preserve precious resources.