Adequate supply of raw metal, plenty of demand for recycled materials.
For the purposes of discussing the business of scrap iron in Toronto, it’s wise to define the basic properties of ferrous and non-ferrous metals. Ferrous refers to a metal that contains iron at some level - these are generally magnetic - and include iron and steel in their various forms. When it comes to scrap iron, it’s also important to note that additional elements like carbon or nickel may be present in varying degrees.
For businesses that are buying and selling scrap iron in Toronto, most of our common, everyday products are the source of valuable scrap that comprises the basis of the business: containers and cans and building and construction materials. In actuality, those products likely contain recycled metal themselves - just by example, today’s automobiles are compromised of 65% recycled steel and iron.
Collecting, sorting and processing scrap iron in Toronto is economically advantageous, both for the companies purging unwanted waste, and for those companies collecting the waste. And for good reason - recycling steel, and using recycled steel, is much less expensive than mining the iron ore and manufacturing new steel. There is little down side with recycled steel: the metal does not lose its original physical properties through the recycling process; and the energy used is dramatically reduced compared to refinement from iron ore.