Ferrous Scrap Metal

Ferrous scrap metal refers to any scrap metal that contains iron or is primarily made up of iron. It is classified under the supply class "Iron And Steel Scrap" in the supply group "Ores, Minerals, And Their Primary Products."

Ferrous scrap metal is typically obtained from various sources, including industrial manufacturing processes, construction and demolition sites, and end-of-life products such as automobiles and appliances. It includes a wide range of iron and steel products, such as steel beams, pipes, sheets, rods, and other metal components.

The recycling of ferrous scrap metal is an important process in the steel industry as it helps conserve natural resources, reduce energy consumption, and minimize waste. The collected scrap metal is sorted, processed, and melted down in steel mills to produce new steel products.

Ferrous scrap metal is a valuable commodity in the global market, and its prices fluctuate based on factors such as supply and demand, global economic conditions, and the quality of the scrap metal. It is commonly traded and used as a raw material by steel manufacturers and foundries to produce new steel products.

Overall, ferrous scrap metal plays a crucial role in the circular economy by promoting sustainable practices and reducing the reliance on virgin iron ore extraction.