| Recycling scrap metal has always been a | | | | codes. These basically define the type of |
| potential business in which one can make | | | | scrap in terms of content, size, source and |
| money and even more so now with a huge | | | | mix. |
| emphasis on recycling. Millions of tonnes of | | | | |
| scrap metal are processed every year, | | | | The price that scrap metal is purchased and |
| examples being cars, bikes, pots, radiators, | | | | sold for is determined by its type, source |
| appliances, pipes, electrical wires, sinks, | | | | and any further classification. Additionally |
| ships and many more. This article gives a | | | | depending on supply and demand, the prices |
| brief overview of the scrap metal industry | | | | can fluctuate reasonably and quite frequently |
| helping one get an understanding of what it's | | | | with a short space of time. |
| all about. | | | | |
| | | | The various parties that trade in the |
| Scrap metal comes in two types, Ferrous and | | | | purchase and sale of scrap metal are defined |
| non Ferrous. Ferrous only includes steel and | | | | as follows. |
| iron scrap, whereas non ferrous is scrap | | | | |
| metal other than iron and steel and includes | | | | Scrap processors purchase scrap metal from |
| copper, aluminium, zinc, lead, nickel, | | | | various sources, for example from builders, |
| titanium, cobalt chromium and precious | | | | plumbers, mechanics, foundries, and other |
| metals. Ferrous scrap is more readily | | | | sellers. The scrap processor may deal in |
| available than non ferrous and hence ferrous | | | | ferrous or non ferrous or both. The scrap |
| is less expensive than non ferrous. | | | | processor will sort the scrap metal in their |
| | | | scrap yard with the use of cranes, magnets, |
| Scrap metal is also categorised using other | | | | shredders etc, and then sell the processed |
| criteria, for instance ferrous and non | | | | scrap metal to foundries, mills, recyclers |
| ferrous can be grouped into home scrap or | | | | and other purchasers. Alternatively the scrap |
| purchased scrap. Home scrap is produced in | | | | processor may recycle the scrap and then sell |
| the foundry or mill and is reused by the | | | | on the recycled products. |
| foundry or mill. Purchased scrap can be | | | | |
| further classified as either industrial (new) | | | | Peddlers collect scrap metal from various |
| scrap which is unwanted scrap created in the | | | | sources and sell to the scrap processors. Or |
| manufacturing process like when producing a | | | | they may purchase from scrap processors and |
| new car, or obsolete (old scrap) which is | | | | move the scrap to other countries. For |
| worn out scrap like a car that has reached | | | | instance a peddler may source unused cars for |
| the end of its life. Other examples of | | | | the scrap processor, or may collect aluminium |
| obsolete non ferrous scrap include copper | | | | cans for the scrap processor to recycle. |
| pipes, radiators, catalytic converters etc. | | | | |
| | | | As can be seen, to get involved in this |
| Also for instance in ferrous scrap metal you | | | | business, there are many factors to consider |
| get many grades to classify, for example you | | | | and options to choose. |
| have HMS1, HMS2 and further classifying ISRI | | | | |