stick to a magnet. Some cheaper grades of stainless steel are magnetic, other grades are not. These items are higher priced commodities for metal recycling and are important to separate when recycling them. The prices of non-ferrous metals also tend to fluctuate more than ferrous metals so it is important for recyclers to pay attention to these sources and the overall markets. Hazards Great potential exists in the scrap metal industry for accidents in which a hazardous material present in scrap causes death, injury, or environmental damage. A classic example is radioactivity in scrap; the Goiânia accident and the Mayapuri radiological accident were incidents involving radioactive materials. Toxic materials such as asbestos, and toxic metals such as beryllium, cadmium, and mercury may pose dangers to personnel, as well as contaminating materials intended for metal smelters. Many specialized tools used in scrapyards are hazardous, such as the alligator shear, which cuts metal using hydraulic force, compactors, scrap metal shredder, and vacuum. Benefits of recycling According to research conducted by the US Environmental Protection Agency, recycling scrap metals can be quite beneficial to the environment. Using recycled scrap metal in place of virgin iron ore can yield: 75% savings in energy. 90% savings in raw materials used. 86% reduction in air pollution. 40% reduction in water use. 76% reduction in water pollution. 97% reduction in mining wastes. Every ton of new steel made from scrap steel saves: 1,115 kg of iron ore. 625 kg of coal. 53 kg of limestone. Energy savings from other metals include: Aluminium savings of 95% energy. Copper savings of 85% energy. Lead savings of 65% energy. Zinc savings of 60% energy. Metal recycling industry The metal recycling industry encompasses a wide range of metals. The more frequently recycled metals are scrap steel, iron (ISS), lead, aluminum, copper, stainless steel, and zinc. There are two main categories of metals: ferrous and non-ferrous. Metals that contain iron in them are known as ferrous. Metals without iron are non-ferrous. Common non-ferrous metals are copper, brass, aluminum, zinc, magnesium, tin, nickel, and lead. Usable coins can be deposited in banks. Damaged US coins can be redeemed for money via the Mutilated Coin Redemption Program. Non-ferrous metals also include precious and exotic metals: Precious metals are metals with a high market value in any form, such as gold, silver, and platinum group metals. Exotic metals contain rare elements such as cobalt, mercury,