Unlike most other construction materials steel can be recycled indefinitely without loss of property or performance.
This is referred to as multi-cycling.
It means steel always has a value, which guarantees that virtually none is ever disposed of in a landfill.
The multi-cycling of steel is a self-sustaining system that predates modern appreciation of environmental issues and would continue in the unlikely event that they should ever lessen in importance.
You can read more on BCSA memorandum No 244/12.
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