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