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Scrap Steel Prices

Scrap Steel Prices

Steel is an alloy used to make construction beams, columns, plates, channels and rails. The automotive industries also use this particular alloy to make car bodies. Actually, about 65% of a car is made out of steel. Other usual applications are aerospace, heavy equipment, white goods, pipelines and shipbuilding. Now it’s hard to imagine life without steel but easy to understand why scrap steel prices are quite steep.

Scrap steep prices these days are cheaper compared to its prices during the earlier art of the 20th century. This is due to the introduction of modern production techniques that make steel-making cheaper and faster. When plastics started to replace steel in some areas, the prices of newly-formed steel and scrap steel declined further. But industrialization requires the ductility, tensile strength and corrosion resistance of steel. There are several traits that can never be provided by plastics. These keep the newly-formed and scrap steel prices in height. There are numerous applications wherein steel is most ideal, so even if with the introduction of advanced production techniques you should expect the newly-formed and scrap steel to be very cheap.

Scrap steel recycling has been around for more than a century already, and it is the major reason why steel prices don’t shoot up to the sky. Recycling steel is a lot more economical than mining iron ore and manipulating it to form new steel. Additionally, the recycling process does not remove the intrinsic physical properties of steel so scrap steel prices don’t plummet down to the prices of other recyclable junk. Issues regarding the detrimental effects of mining and steel production also compelled construction companies, automotive and appliance companies to recourse to recycle steel. If they are going to recycle this alloy there will be no need to mine and disrupt natural habitat. Furthermore, carbon emissions will decrease and climate change can be controlled.

Scrap steel prices are not all the same because there are different steel grades. More than 150 steel grades are available and the grade determines their ideal use. As an average consumer you are not expected to be familiar with these but you can categorize them according to their uses. There are heavy metal steel, cast iron, re-enforcing bars, and old car bodies, pressing steel, manganese steel, rails and turnings. In order to get the best pricing you should approach only a reliable metal merchant. Take not that it requires a license to buy and sell scrap metal so don’t make business with just anybody.

It is also essential to be oriented that scrap steel prices are not steady. Buying and selling of metals and other commodities in the world market can affect these. Slight variances could also happen in your local market due to certain dynamics. The best thing to do is to research before buying or selling scrap steel.  Fortunately, there are crap steel prices

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