Understanding the various weight measurements in scrap metal is crucial for scrappers, yards, and buyers to ensure fair transactions and accurate valuations.
Among the commonly used terms, “Gross Ton” (GT) and “Net Ton” play pivotal roles in determining the worth of scrap materials. But what is a “Gross Ton,” and how does it apply to scrap metal pricing?
How Much Weight is a Gross Ton?
The symbol “GT” stands for Gross Ton in the scrap metal industry. This metric is the standard for measuring steel and other commodity weights for pricing purposes.
However, a GT does not weigh the same as your standard “Net Ton.” Whereas your standard Net Ton will weigh 2,000 lbs, as we all learned in school, a Gross Ton weighs 2,240 lbs.
Where did “Gross Ton” come from?
This is because a Gross Ton derives from the Imperial weight system, where it is also sometimes called an “Imperial Ton.” Since the advent of shipping via boat worldwide, we have used Imperial measurements for all weight-related shipment processing. This has carried over into modern practices that we see today.
Why Use A Gross Ton At All?
One word. Standardization. It is crucial for consistency in the scrap metal industry. Using gross ton weight as a standard unit of measurement contributes to a level playing field where all global participants adhere to the same measurement conventions. This standardization aids in fair pricing, smooth transactions, and industry-wide cooperation.
Real-World Application of Gross Ton
Consider a scenario where a scrap yard offers $0.05 per pound for scrap metal. If you provide 2,000 pounds of pure scrap (Net Ton), your payout would be $100. However, if the scrap yard applies the pricing to the Gross Ton weight, assuming you provide 2,240 pounds, your compensation would be $112.
Contact Your Yard
If you are unsure how your yard is weighing or classifying your material, always contact them beforehand to get an accurate idea of how your materials will be weighed. Some scrap yards will measure by ton and others will measure by pounds.
Typically, on the consumer level, you won’t be bringing in thousands of pounds at a time, but if you had a big score, knowing how they will weigh things can make a big difference in cost at the end of the day!