Mini-mills and steel recycling

Brief reference. "Some guys bet" 50 years ago that scrap would come back from the environment and built mini-mills using 100% recycled steel. ## Figures referenced

I told you one of the advantages of steel is that it's recyclable. At one and a half billion tons, we recycle over a billion tons of steel a year. One time someone said, well, we're gonna run out of steel. Some guys bet on that about fifty years ago, and they built what they call mini-mills, and they made a fortune by using 100 percent recycled steel. Because for a hundred years we were putting about fifty million tons a year of steel into the environment, and that stuff eventually comes back as scrap.