Steel scrap metal is driving the scrap metal recycling industry in the United States and throughout the world as the demand and value of steel scrap continues to rise.
Scrap metal recycling business in the United States is expected to grow in the coming years. The progress and development of the national scrap metal industry is due partly to the recovering state of the nation’s economy. As a premier supplier of scrap metal, the United States also plays an integral role in the global scrap metal market. Even with a challenged economy, the demand for steel and other recycled metals remains high within the United States and throughout the world. For example, from 2008 to 2010, the value of nonferrous scrap metal rose twenty-eight percent in the United States.
Steel Exports from the United States
Recent statistics report that over 74 million metric tons of steel scrap metal were processed in the U.S. by the scrap metal recycling industry. This much metal equals about a $22 million value. As the world’s largest exporter of ferrous scrap metal, the U.S. sends metal to over 90 countries including China, Taiwan, Canada, and Turkey.
A Green Life Cycle
One reason recycled steel is so valuable throughout the world, is that it can be processed again and again without losing its essential properties or quality. Steel can also be used in a wide variety of industries including construction, manufacturing, automotive, and more. Scrap steel is recycled and used to create more than seventy-five percent of the raw steel in this country. Eventually, this steel is used and recycled again, continuing the life cycle. This process makes steel a more sustainable resource and helps manufacturers, consumers, and processors save valuable energy and costs.
For example, by using scrap steel to produce steel, carbon dioxide emissions are reduced by over fifty percent, versus making steel from virgin ore. Moreover, manufacturing steel using recycled steel scrap saves sixty percent more energy versus making it from virgin ore.
Thanks to these savings, the demand for recycled steel continues to grow throughout the world. In fact, China is now the world’s largest steel producer and through the use of recycled steel they have implemented a long term plan which will slowly increase the global percentage of scrap steel used in manufacturing steel.
About Ferrous Processing & Trading
Ferrous Processing & Trading is one of North America’s premier processors, sellers, and recyclers of scrap metals of all kinds. They are supported by the unique skills and experience of the management, commercial, and operations teams. Their ownership assures both financial strength and a deep commitment to the industry and their customers. FPT’s reputation is built on the core values of integrity, expertise, responsiveness, and creativity in the scrap metal recycling industry.
Ferrous Processing & Trading is a key supplier to the metals industry of North America. They are also a major scrap metals management company for the U.S. auto industry. From every stage of the metal recycling process from the assembly line to the used parts pile then through the scrap processing yard and into the furnace, FPT has the right answers for handling and marketing metal.
Ferrous Processing & Trading
3400 E. Lafayette
Detroit, MI 48207