Iron scrap, classified as waste, is purchased by companies specialising in and authorised to recover metals. Alternatively, it is purchased as secondary materials or by-products by manufacturing companies, commonly foundries, which use it to create new iron, cast iron and steel products. As the scrap metal market is well established and has a high recyclability rate, it allows waste-producing companies to earn money from sales and receive compensation for collection. The price of scrap metal is influenced by official market prices, such as those provided by the London Metal Exchange (LME).
There are exceptions where companies producing this type of waste incur waste management costs due to factors such as low material quantities, inefficient transport and logistics, or contamination that compromises the purity and treatability of the material.
To gain a strong competitive advantage in terms of Industrial Symbiosis, it is also possible to publish your scrap metal residues on digital portals such as Sfridoo to gain more visibility and new commercial offers.