Ferroalloy refers to various alloys of iron with a high proportion of one or more other elements such as manganese (Mn), aluminium (Al), or silicon (Si). They are used in the production of steels and alloys. The alloys impart distinctive qualities to steel and cast iron or serve important functions during production and are, therefore, closely associated with the iron and steel industry, the leading consumer of ferroalloys
A base metal is a common and inexpensive metal, as opposed to a precious metal such as gold or silver. A long-time goal of alchemists was the transmutation of a base (low grade) metal into a precious metal. In numismatics, coins often derived their value from the precious metal content; however, base metals have been also used in coins in the past and today.
Scrap consists of recyclable materials left over from product manufacturing and consumption, such as parts of vehicles, building supplies, and surplus materials. Unlike waste, scrap has monetary value, especially recovered metals, and non-metallic materials are also recovered for recycling.