Most people interact with aluminum every single day. Its significant role in today’s world gives this versatile metal a high value. As a business owner or manager, it would be wise to review how you are managing this material in your waste stream considering aluminum is a material that can be baled. Not baling aluminum scrap could be a costly mistake if you produce a high enough volume. Aluminum’s high demand, it’s dependency on recycling, and premium value in bale form make it a profitable material to recycle for businesses.
Growing Market: What is the demand for Aluminum?
Demand for aluminum can vary depending on various factors such as the location, the weight and the current market conditions. Generally speaking, aluminum is sold by weight, typically in units of pounds or metric tons. According to Ycharts.com, as of February 2023, the price of aluminum is $2416.18 USD per Metric Ton.
From soda cans and packaging to cars and airplanes, aluminum’s applications are endless. It is a huge part of our everyday lives and this isn’t likely to change any time soon. The future demand for this material will continue to rise as the market for aluminum is expected to grow by at least 40% by 2030. As long as the demand stays high and continues to rise, so should its value.
Aluminum Production Dependent on Recycling: Is Aluminum Infinitely Recyclable?
Aluminum is tailor-made for our circular economy aspirations because it’s considered to be infinitely recyclable. This means the recycling process does not alter the element, allowing it to retain its usefulness. Producing aluminum from recycled materials also takes significantly less energy than manufacturing it new. The process of mining and refining new aluminum is energy-intensive. It has a negative environmental impact in comparison to producing it from recycled materials. Producing new 20 aluminum cans from recycled material takes as much energy as manufacturing 1 new can from virgin material. Aluminum handling the recycling process so well coupled with the advantage in energy efficiency over virgin material leads to the market for new aluminum products being heavily dependent on recycling. In fact, recycled aluminum makes up about 80% of aluminum production in the U.S.
Premium Value in Bale Form: How can my Business Profit off Baling Our Aluminum Waste?
The best way for most businesses to profit from selling their aluminum waste is to use an an aluminum baler. The main reason being that baled aluminum sells for a premium compared to loose. This is because of the logistical advantages baled material brings the recycler. Hauling baled aluminum is far more efficient because it saves the recycler time. If it was loose aluminum then they would have to bale it themselves before hauling it to the smelter to be processed. Businesses that produce a high volume of aluminum waste can profit off this by selling this material to scrap yards & other metal recyclers. Aluminum often generates a higher payout than other recyclables. All you have to do is find a scrap yard or metal recycler to pay for your material.
At FleetGenius Compactor Solutions , we have connections to a vast network of recyclers. Having trouble finding one to take your aluminum waste to? Ask us if we know any that we can put you in contact with!
Aluminum’s growing demand, recycling-dependent production, and premium value in bale form give savvy business owners and managers a great opportunity to capitalize on their aluminum waste. There’s no better way to capitalize on recycling aluminum than by using an aluminum baler. It’s the best equipment for several types of aluminum waste. Does your business need a solution for baling aluminum?