A good friend of mine has managed to acheive something man has been
searching for since the dawn of time - turning base metals into precious
metals. His most recent alchemy recycling exercise resulted in 4oz of silver!
623kg Steel @ $0.14 which totaled $87.20
44kg Al cans @ $0.70 which totaled $30.80
So at those rates 46kg of (Al)cans = 1 Ag oz, and 687kg steel (Fe) = 3 Ag oz.
Aluminium at a price of $2000 per tonne would give you $88 for 44 kg of Aluminium. Is it worth the energy to extract the silver from the Aluminim to get an ounce of Silver? This would only be the case if there was an explosion in silver prices.
ReplyDeleteLikewise with steel at $600 per tonne. 623 kg of steel is worth $374.