Price of Steel Scrap
Steel scrap or metal scrap is the left over from the production of devices such as parts of vehicles, electronic gadgets, food cans, and construction materials.
It is then processed to form another type of steel product.
Steel scrap is processed usually in a wrecking yard or also known as junkyard, scrap yard, or breaker’s yard. Steel scrap is then melted to form new products.
Recycling steel significantly reduces the consumption of energy in producing steel. Instead of refining iron ores just to make steel, it is wiser to recycle the unused steel or the steel scrap by melting it and forming desired products to minimize energy consumption. Refining iron ore involves complex processes. Recycling one ton of steel saves about 1,100 kilograms of iron ore. Recycling steel from waste stream is quite simple because steel is magnetic. In view of the fact that steel is magnetic, recycling companies may use machines that sort magnetic wastes from non-magnetic wastes. On the other hand, recycling steel from products such as automobiles and electronic goods is not easy because it requires dismantling, which is time consuming, and requires intensive work. But once the steel has been sorted from other materials, the next few processes are relatively easy. After sorting the steel, it is then placed into a furnace for it to be melted and then pouring the liquid metal into a mould to form coils. These coils are then used to make bridges, cars, bicycles, or any form of steel products in combination with iron. Steel may also be used in constructing skeletons used in stadiums, skyscrapers, and airports.
Steel scrap’s prices vary depending on grades. The higher the grade, of course, the higher the price will be. There are two main grades of steel. Namely Heavy Melting Scrap 1 and Heavy Melting Scrap 2. Heavy Melting Scrap 1 contains galvanized and blackened steel with a minimum thickness of quarter of an inch and a maximum size of 60” by 24”. Heavy Melting Scrap 2 must have at a minimum of one eighth of an inch in thickness. The typical grade being sold by scrap dealers is the Heavy Melting Scrap 2 which is lighter than Heavy Melting Scrap 1. The average price for Heavy Melting Scrap 1 is $100 per ton while the average price for Heavy Melting Scrap 2 is high at $300 per ton. The following are the other types of steel scrap:
- Mixed steel Can Scrap – these are normally generated from food cans. This may also be flattened or remain as whole steel can.
- Unprepared Bushlings – consists of uncoated steel clippings, stappings and sheet skeletons not more than 1/8” in thickness.
- Silicon bushling – consists of silicon bearing steel scrap with at most 1/8” thick.
- Shredded Steel Scrap – contains course shredded steel scrap.
- Manganese Steel Scrap – this should contain non-magnetic manganese steel materials. This may also include Manganese grinder plates.
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