Scrap metal recycling companies have three components in their product line. They are collecting, processing and reselling metals. Half of the industry revenue comes from processing and reselling metals. Each year, 70million tons of ferrous metals and 9million tons of non-ferrous metals are processed.
Scrap metal recycling is extremely important for economic growth and our environment. It limits the amount of new ore that must be mined from the earth each year to provide the world with its metal. With recycling, we can save the natural resources for future use, and this provides us sustainable economic growth. And more recycling means less mining, it can reduce carbon dioxide emission which is the main contributor to global warming. In addition, some scrap metals are toxic to the environment, like those high in lead. Proper handling and disposal can significantly improve the environment, especially for those developing countries.