If you are going to compare the current stainless-steel scrap price and the virgin stainless steel price in the market, you will quickly notice the difference. The former is cheaper than the latter. That’s because virgin stainless-steel is new. It has never been used, recycled, or processed. Obviously, used items are cheaper than the new ones.
In general, making products using new metals is costlier than making them using scrap metals. This explains why many construction and manufacturing companies are turning to scrap stainless-steel. But that’s not the only reason why scrapsare more preferred.
Metals are extracted from the soil through mining, and then they are processed and undergo an extensive procedure to become cars, appliances, and other metal products. These processes are detrimental to the planet’s health.
Using scrap stainless-steel is an effective way for businesses to get into recycling. Not only can they save cash on production costs—they can also do their part in saving the environment. By turning to scrap metal, they can minimize their carbon footprint.
It is true that recycling stainless-steel and other metals still requires cash and energy. But compared to the cost and energy requirements of processing virgin metals, it is far less demanding. As a result, companies spend less cash on production or manufacturing. This allows them to focus on other important aspects of their businesses such as marketing.
Good For Their Image
Speaking of marketing, recycling is also good for image building. By claiming that they are using scrap metal for their products, businesses can show the public that they care about the environment, thereby creating a more positive image and impressing more consumers.
The current stainless-steel scrap price depends on several factors: supply and demand, location, time of the year, and price of new stainless-steel. The price is up usually when the supply is short and the demand is high and when the recycling location is close to the scrapyard. Stainless-steel scrap prices in the market also go high when virgin metals are expensive.
Because the prices of scrap metal change from time to time, it is important to stay informed so you can make a fair estimate of how much your scrap is value. And while you are collecting scrap, it is good to start finding scrap yards so that you can sell right away when the timing is right.
If you are located in Sydney, then consider Metal Force Recycling. We offer the best prices for all scrap metals. You can easily see our stainless-steel scrap price offer on our website. We know that comparing offers will be part of your process. Call us anytime at 0403 191 732 if you are ready to sell or you have any questions.