Scrap is either distinguished as
- Home scrap - It is the internally generated scrap during the manufacturing of the new steel products in the steel plants and the iron and steel foundries.
- New scrap - New scrap (also called prompt or industrial scrap) is generated in steel-product manufacturing units and includes such items as turnings, clippings and stampings leftover when parts are made from iron and steel during the manufacturing processes.
- Old scrap - Old or post-consumer scrap results when industrial and consumer steel products (such as automobiles, appliances, buildings, bridges, ships, cans, railroad coaches and wagons, etc.) have served their useful life.