Economic Impacts of Scrap on the United States

Scrap Metal YardIn the United States, recycling is slowly becoming the standard for many major industries. For green industries like industrial scrap metal recyclers, however, it’s an everyday norm. But recycling metal isn’t only good for the environment – the U.S. economy also gets a boost from favorable scrap metal costs. Here, Mobile, Alabama’s ASM Recycling, Inc. takes a closer look at the impacts industrial metal recycling has on the U.S. economy, as well as how the COVID-19 pandemic is expected to affect the scrap metal industry.

Industrial Scrap Recycling

Each year, countless metal products reach the end of their useful lives. Rather than sticking them in landfills, project managers and other industry authorities can opt to recycle these products and receive compensation for their decision.

Recycling industrial metal helps to reduce greenhouse emissions and conserve the environment. What’s more, it also offers a way for industries to maintain their project costs, whether they’re building, producing, or pursuing another endeavor. Currently, steel scrap compensation is projected to remain at $243 per metric ton, but this may be impacted by COVID-19 and other global factors.

The Economic Impact of Scrap Metal

For the past several years, industrial metal recycling has had an enormously positive impact on the U.S. economy. In 2018 alone, this industry recycled approximately 138 million metric tons of scrap metal. Further, it is a major job creator and exporter, generating the following total amounts of jobs, wages, and economic impact:

  • 531,510 jobs
  • $33,437,186,600 in wages
  • $109,778,988,700 in economic impact

Similarly, in terms of its environmental impact, industrial metal recycling saves the amount of energy needed to manufacture a wide range of materials. In turn, this allows the U.S. to allocate more energy to other important purposes, like heating homes, powering cars, and much more.

Industrial Metal Recycling and COVID-19

With the recent outbreak of COVID-19, industrial metal recycling may experience a boom in the U.S. economy in response to a decrease in industrial metal demand and an increase in overseas supply. Since it’s risky to start and stop metal-producing equipment, China, the world’s top producer and consumer of steel and aluminum, is still producing these metals. This surplus in industrial metal will take months to funnel out, which is putting pressure on producers in North America, Europe, and elsewhere to reduce their supply.

Currently, steel prices in the U.S. are optimal. With Chinese supply waiting for eventual COVID-19 clearance in ports and warehouses, our businesses are filling the market gap they left behind. However, once China can export their stock, many domestic suppliers are expected to take a hit. Rather than waiting for industrial metal prices to get better, metal suppliers are being advised to sell or recycle their scrap industrial metal as quickly as possible.

The Role of ASM Recycling, Inc.

That’s where a company like ASM Recycling, Inc. comes into play. By recycling their ferrous metals, suppliers can stay ahead of the curve and adjust their supply to meet the eventual shift in global metal demand. To learn more about the benefits of industrial metal recycling and our market projections, contact us at 251-470-0765 today.

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The Many Benefits of Industrial Copper Recycling

a bunch of copper wiresScrap recycling has a huge economic impact, generating more than $109 billion every year and employing some half a million people, but the benefits of industrial copper recycling propel that impact even further. In addition to being long-lasting and durable enough to be reused again and again, copper is prime material for recycling. For businesses eager to “do their part” for the environment as well as their community and their own brand, ASM Recycling, Inc. offers a chance to turn old copper into something new.

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Finding Materials for Recycling Industrial Aluminum

Aluminum cans and tin pieces in a pile to be recycledRecycling industrial aluminum helps preserve a metal that’s lightweight, corrosion-resistant and durable, but those benefits are just the beginning. From conserving energy to reducing material costs, recycling nonferrous metals like aluminum is a financial and environmental win-win — all you must do is identify where aluminum is hiding in your industry and send it to the right people for processing. ASM Recycling, Inc., welcomes reclaimed industrial aluminum from a variety of sources and helps give it new life.

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How Businesses Are Reusing Nonferrous Metals in Mobile, Alabama

Copper steel products in different shapes and sizesEvery year, the United States generates a whopping nine million tons of iron-free scrap that could easily end up tossed into landfills, but reusing nonferrous metals is a smart way to make the most of this precious commodity. Learn how recycling and reusing common materials with the help of ASM Recycling, Inc. could pad your bank account and save the environment at the same time.

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The Most Active Industries That Recycle Scrap Metal in Mobile, Alabama

Various colored and labeled recycling bins with three green arrows in the middleMost people have gotten used to separating their cardboard and plastic from their trash at home, but commercial recycling programs take eco-friendly practices to exciting new levels. A quick look at the industries that recycle scrap metal most tells us who is making the effort to put Mother Nature first, and the experts at ASM Recycling, Inc. are happy to help those pro-environment efforts become reality.

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Metal Conservation In Alabama

two heaps of scrap metalMetal conservation preserves materials that have already been mined and processed for use. At ASM Recycling, Inc. , our specialists collect scrap metal at your commercial location and recycle it at our plant. We take our eco-friendly mission seriously and would be happy to add you to our list of valued clients.

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Breaking Down E-Scrap Recycling

Computer parts in recycling binWhen your electronic devices are obsolete or no longer wanted, they become what’s referred to as e-scrap. Many of the items labeled as e-scrap aren’t actually scrap but can be reused or recycled, whether they work or not. While you may regularly recycle common items like plastic, glass, aluminum and various metals, you might not realize the importance of electronics recycling. By recycling cell phones, televisions, computers, stereos, printers, video game consoles and other electronic devices, you’re helping protect the planet.

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Costs You Can Reduce With Scrap Metal Recycling

scrap metalScrap metal recycling is beneficial for many reasons — it’s environmentally responsible because it prevents discarded metal from filling up our landfill, it provides an excellent source for raw metal materials. Another major advantage to scrap metal recycling is the cost reduction potential, both for manufacturing and construction projects.

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