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Recycling Scrap Metal: The Benefits

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by - 1/18/2016 3874 Views

A Booming Industry

We might be probably aware of the existence of scrap metal recycling industry globally on a large-scale and might be surprised by its size and scope as well. These days with the modern know-how, a significant amount of the metal that ends up in finished products like appliances and structural steel is recycled or “recovered.” Moreover, scrap metal recycling is booming. This brave new world has some obvious and not-so-obvious benefits for the economy, the environment and the average consumer.

Earth & Health Friendly

Scrap metal recycling is of great importance as it is less energy-consuming and more efficient than extracting and refining raw metals through traditional mining processes. Mining has many back drops like; it produces a number of environmental hazards, including poisonous runoff, groundwater pollution, habitat destruction and unstable geological conditions. What’s more, most types of mining require large inputs of fossil fuels.

On the other hand, scrap metal recycling doesn’t contribute to groundwater pollution or create physical scars on the environment that can take hundreds of years to heal. After all, recycling plants don’t require massive open-pit mines to perform their work.

Waste Reduction, Space Production

Scrap metal recycling helps freeing up landfill space for true junk like, discarded food matter and non-recyclable plastics. Since many recyclable metal products are quite bulky, continued growth in the scrap metal recycling rate is likely to reduce the need for unsightly, space-consuming new landfills near our population centers. By keeping junkyards from overflowing, scrap metal recycling also reduces smaller-scale eyesores within our neighborhoods and encourages more productive land uses.

Economically Beneficial

The recycling business is fairly labor-intensive, and many independent studies have shown that it contributes tens of billions of dollars to the country’s gross domestic product. In 2011, a detailed study by the Institute for Scrap Metal Recycling found that nearly 500,000 jobs had been created by the industry. Total federal, state and local tax receipts from the activities of scrap metal recycling outfits added up to more than $10 billion. Across all 50 states, the industry generated about $90 billion in economic activity.

It’s important to note that recycling job oppurtunities require high levels of skill and training. While wages within the industry vary by employer and location, typical scrap metal recycling jobs in high-wage states like New York often pay far more than the national median income.

Benefits for Consumers and End-Users

Recycling scrap metal has plenty of mixed benefits for consumers and businesses as well. For starters, scrap metal has a substantial cost that fluctuates in response to market forces like supply and demand. If you’ve ever sold an old car to your local wholesaler for “parts,” the amount that you were paid was based in large part on the value of the metal in your vehicle. Payments for old vehicles provide down-on-their-luck consumers with valuable infusions of liquidity during tough times.

Scrap metal is also used to produce plenty of new products that don’t appear to be recycled in any fashion. From smartphones and televisions to new cars and buildings, recycled scrap metal winds up in plenty of unexpected places.

Think Before You Throw

With so many clear benefits, it’s no wonder that scrap metal recycling has taken off in a big way. Whether you care about doing your part to minimize your environmental impact or simply want to make a few extra dollars, you can surely find a reason or two to recycle your old batteries, appliances and vehicles. Since scrap metal recycling isn’t going anywhere, it’s time to embrace it.

Category : Metal

Tags : Metal Scrap Market, Scrap Market Trend, Chinese Stock Market Trend, Global Market Trend

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About Georgy Abraham

As the bright morning of 28th May dawned in the year 1972, in the fulfillment of time according to the plan & will of Almighty Godbrought me forth into this world and I was brought up & educated in Orissa. My parents provided me with the best of education in an English medium school with high standa .... more info


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