With reference to several industrial moves towards steel material, steel production, and the revitalisation of its erstwhile moribund state, the evidence is undebiably true of the lucrativeness this economic ‘gold’ promises in world market.
By Onwe Georgina
Just few days ago, President Tinubu spoke of the country’s turn to the steel production market. Also, Edo governor’s recent deal with a Chinese steel company speaks volume of the steel production value.
Surprisingly enough, what makes this ‘gold’ the latest venture is the fact that it can be converted into a more usable value, which means there is no waste in the business of steel.
That is why this article will focus on the recycling potentials of the business.
What is recycling?
It is the action or process of converting waste materials and turning it into reusable materials.
Profitability in Steel Recycling
Did you know that steel is the most recycled material in the world? In North America, around 80 million tons of steel is recycled each year. That’s more than the weight of all of the cars in the entire state of California. It’s also more than all the paper, plastic, aluminium and glass been recycled each year combined.
Why Recycle Steel?
Steel recycling is good for the environment because the more steel we recycle, the less mining for new metals we have to do. Every ton of steel we recycle saves 2,500 pounds of iron ore, 1,400 pounds of coal and 120 pounds of limestone. It also saves energy . Recycling steel uses 74% less energy than creating steel from raw materials.
Why Is Steel So Recyclable?
Steel can be recycled over and over again to produce new steel. Why is it so easy to recycle? First, it’s magnetic, so it’s easy to separate from other metals. Second, unlike recycled paper or glass, which suffer from degradation when recycled, steel doesn’t lose any strength when it’s re-melted to make new steel, so it doesn’t lose any of its value.
What Is Steel Used For?
From cars and skyscrapers to soup cans and sardine tins, steel is used to make many of the objects we interact with every day.
Other common steel items are:
- Food cans
- Paint cans
- Aerosol cans
- Cars
- Small appliances
- Scrap metal
- Large appliances
- Construction materials
Steel can be used in any of the applications above by been melted down and remanufactured into any of the other items on the list or even the same item. Isn’t recycling neat?
Related Posts
- Tinubu Vows to Kick-Start Industrialization through Steel Sector Development
- Edo secures tripartite deal with Chinese Govt, steel company
How to recycle Steel?
It depends on the item. Items such as food cans can be put in your curbside recycling. However, if your steel is a large scrap metal or large appliances or small appliances, it makes recycling more refined.
If you have scrap metal you’d like to sell to a scrapyard, start by determining the market price or value for the metal you have. (A few cans or small steel items are unlikely to be worth the trip.) Then, find a scrapyard either close to you or look it up online.
