Environmental Benefits of Recycling Steel 

Metal scrap pile at business site for Metal Recycling Service Illinois

Environmental Benefits of Recycling Steel 

Whether you’re an individual with scrap metal or steel on your property, or a business owner who’s trying to find an effective solution for steel scrap management, it’s important that you know about the environmental benefits of recycling steel. While most people know that steel recycling supports the local economy and helps to support local jobs—and that they can get paid for their scrap metal—few understand that recycling steel is also a more sustainable option. At Scrap Metal Services, LLC, we are proud to be a global leader in scrap metal recycling, and we are committed to maximizing our sustainability impacts and minimizing our footprint. Here’s what you should know about the environmental benefits of steel recycling—if you have any questions or want to recycle your (steel) metal products, call us directly today.

Steel Can Be Recycled Again, and Again, and Again…

One of the things that makes steel such a sustainable metal is that it can be recycled not just once, not just twice, but multiple times throughout its lifetime. Indeed, steel can be recycled over and over again without losing the strength and durability for which it’s known. This means that it can be used in a variety of industries for numerous applications without its quality being compromised. When steel is recycled like this, the need for new metal mining is significantly reduced.

Recycling Steel Reduces New Mining Projects

When steel is recycled and becomes part of the circular economy, there is less of a demand for new steel products; on the other hand, if steel is thrown away and sent to the landfill, there is less steel in the economy, and therefore more steel is required to strike a balance. When new steel is required and it cannot be obtained through steel recycling, it must be mined. Mining can be incredibly destructive to the natural environment and natural habitats, result in the extraction and use of natural resources, lead to the release of toxins and pollutants, use large amounts of energy and water, and can be associated with labor violations in some cases. 

Recycling Steel Conserves Natural Resources, Water, and Energy

It would be untrue to say that steel recycling has zero carbon footprint or that it doesn’t use any energy or fossil fuels; it does. However, the amount of energy, fossil fuels, water, and natural resources that are used to recycle steel products is less than the amount of those same resources used to mine new steel. Keeping steel in circulation, then, is a more sustainable option that supports planetary health.

Learn More About Steel Recycling Today

To learn more about scrap metal recycling and steel recycling, please call Scrap Metal Services, LLC. We are a leader in steel recycling and look forward to working with you!

Factors that Affect Scrap Metal Prices

Price word cloud for scrap metal pricing trends when wanting to sell scrap metal.

Whether you’re a business owner that purchases scrap metal post-processing, or an individual or a business owner that sells your scrap metal for processing, understanding how scrap metal prices are set is important. Consider these primary factors that affect scrap metal prices in the United States, and feel free to reach out to one of our scrap yards or scrap mills for more questions about the current prices that we are offering to buy scrap metal–

Energy and Production Costs

Clearly, the costs of energy (and production) can have a large effect on the price of scrap metal. Energy costs include the costs of gas, oil, and other sources of electricity. When costs of processing are especially high, the price that is offered for scrap metal may drop in order to make up for the difference. That being said, if the costs associated with new metal mining are particularly high, this can make scrap metal and scrap recycling a more valuable endeavor.

Supply and Demand

One of the most basic economic theories that drives the price of scrap metal is that of supply and demand. This theory holds that the greater the supply of a product, the lower the price; the greater the demand, especially when supply is limited, the higher the price. When scrap metal is in low demand and high supply, scrap metal prices will be lower.

Price of New, Virgin Metals

Another element that can affect the price of scrap metal is the price of virgin metals – those that are newly mined and have not ever been used, recycled, or processed. When virgin metals are more expensive (which can be driven by energy and production costs and supply and demand), scrap metal becomes more valuable as an alternative to virgin products. On the other hand, when virgin metal prices drop, scrap metal becomes less essential, as industries can afford virgin metals instead.

Contact Scrap Metal Services, LLC for Fair Scrap Metal Pricing

At Scrap Metal Services, LLC, we always pay top dollar and fair market value for our customers’ scrap metal and are transparent in how our prices for scrap are determined. To learn more about our scrap pricing, what we buy and what we do not buy, and our locations throughout the United States, please reach out to us today.

We are a leader in the scrap recycling industry with a reputation of excellence, sustainable practices, and worker safety. Please call us today at 708-730-1400 or send us a message directly.

How Will Tariffs Affect Metal Prices?

tariff graphic concept for how changes in tariff will affect price of metal, contact a reputable scrap metal recycler

How Will Tariffs Affect Metal Prices?

Tariffs, including what they are and how they work, can be complicated to understand. What’s more, if you are employed or run a business in an industry that relies heavily on metal, you may be wondering how tariffs will affect metal prices. Here’s a brief overview of what you need to know-

What Are Tariffs?

Tariffs refer to a type of tax that is paid on an import or export to the United States. The tariffs imposed under President Trump specifically impose a tax on imports to the United States, which is assessed at the border (of course, in response, other countries enacted a tariff on imports to their own countries from the United States).
The basic idea behind a tariff is this: because it increases the cost of the good to be imported, the cost should act as a deterrent, urging Americans to purchase locally-manufactured items instead of imported ones. While this is a nice idea, in theory, the problem is that the vast majority of goods in the United States are made overseas, or at the very least, contain parts that are manufactured overseas.

What Do Tariffs Mean for Metal Prices?

The tariffs that were enacted by the Trump administration a few months ago have meant that metal prices have increased. To be sure, in January, the cost of Ingot Premium aluminum was 10 cents a pound, and by mid-March (after Trump had announced the 10 percent tariff on aluminum), the price had jumped to 20 cents a pound. Steel underwent a similar price hike – in January, the cost of hot-rolled coil was $661 per short ton, and in March, the price had increased to $836.

When Will Tariffs End?

If you’re in an industry that relies on the import of metals, you may be curious about when the tariffs will end. The answer is unclear, but as of September 2018, Trump has said that he’s considered more tariffs, not fewer. As a leader who strongly believes that imports hurt America, he’s been vehement in his conviction that tariffs will make America a stronger country and global leader.

Recycling Scrap Metal Can Help

While no one can avoid tariffs, and your business may be forced to import and pay high taxes on your imports as such, recycling scrap metal can help. The recycling of ferrous and non-ferrous materials like steel and aluminum reduces the need for additional imports from other countries, is good for the environment, and can be economically beneficial for companies.

We Can Help

To learn more about how we can manage your scrap metal processing and recycling needs, please call us today at 708-730-1400 or send our team a message today. We are a leader in the scrap recycling industry.

3 Industries Affected by Steel and Aluminum Tariffs

Long tubes of metal and if you need assistance with removing your metal recycling a national company in Burnham has a great reputation.

Nearly all businesses in the United States, as well as all consumers, rely on metals for a variety of purposes. Indeed, your home refrigerator or oven wouldn’t be what it is without metal.

There are countless industries that rely on the importation of metals in order to do business. Which is why the decision of the U.S. government to implement taxes on imported steel and aluminum could have a large effect on the following industries and the overall American economy–

Manufacturing Industry

Businesses in the manufacturing industry are likely to use the greatest quantities of metals. Manufacturing companies that are dependent upon steel, aluminum, and other metals include manufacturers of appliances, electronics, and airplanes.

Construction Industry

According to the same article cited above, there are a whopping 10.1 million Americans who are currently employed in the construction industry. As steel prices increase, the price of steel beams (which are integral to construction) will go up, making building a more expensive endeavor for construction companies nationwide.

Oil and Utility Industries

If you’re struggling to see the connection between the oil and utility industries and steel and aluminum importation, consider that both of the former industries rely on steel in order to manufacture pipelines. These pipelines are a critical piece of energy infrastructure. Of course, these industries also use steel and aluminum for the manufacture of wires and beams (and numerous other things), too.

How Much Do We Really Rely on Imported Steel?

Without the importation of steel and aluminum, the American economy simply would not function. To be sure, of the 100 million tons of steel used in the U.S., imports make up approximately one-third of that. Nearly two-thirds of aluminum used in the states is a result of imports.

What About Domestic Steel Production?

The pressure is on for domestic steel producers to close the import gap as prices for imported steel and aluminum that increase. Additionally, now more than ever before, the recycling and responsible processing of scrap metal are of vital importance.

For businesses that are affected by metal and scrap metal, having a trusted partner for processing and recycling services can provide peace of mind – Scrap Metal Services, LLC can help.

To learn more about our scrap processing and recycling services, please reach out to us today. You can reach our Burnham, Illinois location at 708-730-1400 or get in touch with us by sending us a message using the contact form found online.