Is scrap metal recycling profitable guide, Nonferrous metals demand advice, Industry material tips

Is Scrap Metal Recycling Profitable Guide

18 Nov 2021

Michael Serra once rightly asserted that “when people realize responsible recycling is not only the right thing to do for the environment and for future humankind, but that it also makes money for the town, they know it’s just better for all of us.” Truly, everyone that makes up a society benefits from recycling. The benefits of recycling is not limited to this generation alone, it’s also for generations unborn.

Is scrap metal recycling profitable?

Is Scrap Metal Recycling Profitable Data

According to data obtained from IBIS World, the market size, measured by revenue, of the scrap metal recycling industry is $27.8 billion in 2021. It is predicted that the scrap metal industry will increase by 5.5% in 2021. This increase is driven by the rising demand for nonferrous metals.

The scrap metal industry is rapidly increasing and expanding, this has a positive effect on the economy of a nation and even on individuals. Do you have pieces of scrap metal lying around your house? You can make money from them. Scrap metal company from Hammersmith, London offers monetary value for every piece of recyclable metals given them.

What is scrap metal?

An article online described scrap metal as the combination of waste metal, metallic material and any product that has metal that can be recycled from previous consumption or product manufacturing. It is important to note that the most valuable scrap metals for recycling are non ferrous. They are metals that do not have iron embedded in them. Nonferrous metals include: brass, copper, aluminium, zinc, magnesium, nickel, tin and lead.

Scrap metals can be found in homes, commercial establishments, construction sites, and other locations. They can be found in objects such as door handles, keys, plumbing fixtures, empty cans, aluminium plates and cups, antiques, jewelleries, medals, car parts, television sets, etc. You can contact scrap metal Hammersmith to properly dispose of scrap metals in your possession.

Scrap metal recycling profit guide

Is scrap metal recycling profitable – money value

Absolutely, yes. Scrap metal recycling is very profitable. The scrap metal industry has a very impressive monetary value. The metal recycling industry in the UK is worth up to £5.6 billion while that of the US is worth $27.8 billion in 2021.

The ability of scrap metals to be reused over and over again adds to its high market value. This has helped in no small way to uplift the economic status of a state. As an individual, you could make money by scrapping metals.

Benefits of recycling scrap metals

  • Recycling metals help to preserve natural resources. There will be no increased need to produce virgin metal, this invariably preserve natural resources such as coal and iron ore used in metal production.
  • It helps in keeping the environment more safe and healthy by reducing the amount of global greenhouse gas emissions.
  • It is energy efficient.
  • It helps in keeping the environment clean by reducing the amount of metallic waste around. It reduces pollution.
  • Recycling metals reduces the cost of production. It is cheaper to recycle than to produce virgin metals.
  • Recycling industries are an employer of labour.
  • It’s a cool way to make money. You can contact scrap metal company from Hammersmith to pick up your scrap metals.

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