Before getting into the industries of scrap metal need to know about the scrap metals at first, scrap metals is nothing but the waste materials of the combination of metals which are recycled to produce a new product. The production of various new products by recycling the waste metals is really worthy as there is no need to spend money on the actual metal only turning the wastage of the metals into a valuable product. Scrap metals are of two types are ferrous and non ferrous which are classified based on the presence of iron. At starting the industries based on scrap metals were very few and available in some countries then gradually by seeing the usage and value of scrap metals more industries were setup based on its kinds in many countries across the world.
- The scrap metal industry is one of the most important industries as it involves in the recovery of the metals from the products at their end of life.
- This scrap metal recycling supports environmentally as well as economically.
- These industries utilize the resources well than a new material.
- The energy consumption is reduced.
Development of industries based on the types of scrap metals
Scrap metal is categories as ferrous scrap which is the scrap of iron and steel and the non ferrous scrap are scrap of aluminium, copper, zinc, titanium, tin and other precious metals which don’t contain any iron component. The most of the scrap metal industry produces products based on steel scrap and copper scrap that ranges high among all the other scrap metals. Periodically the changes occur in industries depending on the revenue of the scrap metals. The price of the scrap metals is not similar in all the countries relying on the costs the industries was developed.