Over the past decades, many countries are encouraged to recycle metals. This is primarily to promote environmental sustainability. When people follow this course, it will ensure that mining of mineral is reduced; hence, bringing about environmental conservation in general.
It is encouraged to practice metal recycling because it has many advantages. This includes
- facilitating reduction of energy that one could otherwise use to mine raw materials
- reduce the extravagant use of water, thus being very economical
- achieve less carbon emission; thus, facilitating an efficient green economy
However, despite many countries trying to increase the metal recycling prices, it is still relatively low, but with significant efforts put into place recycling society has a bright future.
Research Study about Metal Recycling Prices
A recent research study reveals that recycling of metals is much cheaper, than smelting of metals from the ores. Nevertheless, the recycling sector is very competitive in terms of prices thus making this industry even more beneficial to the scrap metal dealers. This is so because the dealers will never compromise quality hence facilitating production of effective metals to the market.
There are a number of metals that people usually recycle as scrap materials, this include
- stainless steel
- aluminum metal
However, it is very important to note that the prices of scrap metal do differ, from one country to another. More so, there is no a standard price, a nationwide price or even statewide prices that is being followed.
Factors that Affect Scrap Metal RecyclingPrices
Nevertheless, various factors affect scrap metal prices in the market, among them are
- demand and supply
- location of the scrap metal
- grade of a particular scrap metal
Current scrap metal prices usually fluctuate on daily basis. As such, a scrap metal of copper in U.S ranges around 3.05- 3.06 dollars. In addition, the current scrap metal prices of a ton of nickel metal in a country like China range around 104750- 106000 yen.
Stainless Steel Scrap Metal Recycling Prices
Scrap metal such as stainless steel also has great value in the market and its prices normally range around fifteen U.S dollars per pound for approximately under fifty pounds of the metal. This type of metal has myriads of uses such as; it is used in industries to make machine bodies, utensils like spoons and plates and many more.
Owing to the fact that the scrap metal business is thriving at a higher rate, it has attracted many investors who want to invest heavily in of the industry, because one can get a dime out of it.
Aluminum Scrap Metal Recycling Prices
The growing necessity to recycle aluminum cans, which normally litter cities, also poses as one of the more obvious reasons. Examples of aluminum cans that can be recycled are water cans like the typical refreshing drink containers. Aluminum can recycling prices, also differs, depending on the amount of the scrap metal. Aside from this, the location of the scrap metal also plays a great role in determining the prices. Just take a look at its price in the California that ranges from $1.57-1.58 per lb.
Brass Scrap Metal Recycling Prices
The brasses scrap metal, an important metal that has many uses such as, the production of beautiful ornaments, as well as manufacturing of drilling bits. The price of this metal also varies depending on the grade, and location of the scrap metal. As such, a variety of scrap metal like yellow brass scrap metal has differing prices for example in North America it goes for roughly 2.26 dollars per lb., additionally, in a place like USA West coast the scrap metal goes for an amount of roughly 2.16 dollars per lb.