Scrap a word which in itself is something very less valuable, scrap anything which is no more required or which is useless and doesn’t need by any person. But in real world it’s a complete industry which is looking forward to earn maximum from a scrap business. In some countries scrap business is considered as one of the most lucrative business project. In order to understand the significance of scrap dealing one must understand the concept of scrap and scrap dealing; as in from where this scrap comes, where it is stored, why it is so much valuable and so on. Broadly scrap can be categorized in two, which are elaborated below:
Metal Scrap: considered as gold in the scrap dealing industry because metal is something which has some serious significance in the industry of metal scrap. Metal scrap is a broad term which includes almost every waste or recyclable left over outside the production factory or industry such as: auto parts factory, vehicle manufacturing, metal production, wire production and some more, the list can go on and on. The charges to extract the metal scrap and selling price of the metal scrap are pretty high as compared to a non-metal scrap. To understand the mantra of buying and selling of metal scrap there are some valuable metal scraps which are elaborated further: copper tubing, truck metal rims, and aluminum, iron scrap, copper scrap, aluminum shredded foils etc. all the aforementioned are considered as gold in the scrap dealing industry. People sell and buy metal scrap like valuable item, as compared to non-metal scrap; the metal scrap is something which in sustainable, re-useable and so many other things which could be done by the scrap. So many industries buy their own scrap from the metal scrap dealer and pay extra ordinary amount if possible.
Non-Metal scrap: on the other hand, non-metal scrap is something which is desirable but not as valuable as a metal scrap is. Similarly the scrap dealers buy and sell non-metal scrap items and resell them, profit as compared to metal is significantly low. But there are some items which are considered as a non-metal scrap, such as: wood, plastic, fiber, glass and so much more). There are so many things which can be considered as a non-metal scrap.
Obviously it’s a lucrative business, hence people dealing in scrap charges differently. On average, after recycling the best scrap metal makes approx. $ 15 per 100 pounds of metal. It varies normally according to demand and supply rule, sometimes when the prices of the metal are high the selling and buying automatically becomes extra ordinary profitable.