You may not be aware of this, but metal recycling has a significant impact on our economy.
From a global perspective, there’s a huge demand for all types of metals—and this need is steadily increasing. Urbanization, coupled with a growing population, better living standards, and a growing middle class, will require metals to keep up with the need for infrastructure, products, and services.
Although societal advancement is a good thing, the amount of metal that is needed to achieve it can be a massive environmental and economic burden. Lucky for us, this is where the metal recycling industry comes into play.
The economic impact of metal recycling
Because of the massive demand for metal, the scrap metal recycling industry generates billions of dollars a year in direct economic output. According to one study by the Institute of Scrap Recycling Industries (ISRI), the U.S. metal recycling industry alone was able to recycle 130 million metric tons of materials in 2015, transforming outdated or obsolete scrap into useful raw materials needed to produce a range of new products. As such, many different sectors and other industries are affected directly by the scrap metal recycling trade.
Companies can sell their scrap metal
Whether you own a local utility company, a hardware store, a restaurant, or anything in between, many businesses generate a lot more scrap metal than they realize. In the past, this scrap metal would likely be nothing more than lost profit and thrown away to a landfill. However, organizations can now take advantage of their scrap metal by selling it for profit. Depending on the type of metal, you can fetch a good price for some of your unwanted scrap!
New employment opportunities
No matter where you live and what your profession is, everyone can benefit from the economic activity that is generated from scrap metal recycling. According to The Bureau of International Recycling (BIR), 1.6 million people work directly in the global recycling industry, with around 20 million people engaged in the informal recycling sector. Much of the recyclables have been used on new technologies, research, and development, which contribute to creating highly skilled jobs.
Cheaper metal prices for manufacturers
Metals are crucial for societal development and enable our modern standard of living. As such, the metal recycling industry is extremely important as it allows manufacturing companies to purchase raw metals for a much cheaper price. Repurposing consumer products, such as soda cans and unwanted electronics, requires much less energy when compared with traditional mining. In fact, the production of secondary (recycled) aluminum saves more than 90 percent of the energy costs associated with primary production. Recycling professionals will simply clean the old metal and melt it down without the further intensive use of power. Thanks to the metal recycling industry, the global price of shipping and metal refining is substantially reduced, creating cheaper products and more opportunities for innovative development.
Make money with scrap metal recycling
Most people are aware that metal recycling provides amazing environmental benefits. However, some may be surprised to learn that it can also offer financial rewards. Instead of throwing out your metal, professional recyclers are prepared to buy your unwanted scrap and take it off your hands. Participating in this easy process will not only benefit the environment, but it can also benefit your wallet!
When unwanted metal isn’t recycled, it can turn into lost profits and a wasted product. Furthermore, metal that is improperly disposed of can cause serious damage to the environment. If you’re interested in helping the environment and the economy, or simply looking for a quick way to make some cash, consider recycling your unwanted metal with us!
As a full-service recycling company specializing in metal, we collect your old materials and recycle them in a safe and sustainable way.
Curious about the process? Please don’t hesitate to contact us at (416)-751-4732!