Why the magnet?

Ferrous metals - often referred to as scrap metal, scrap iron, or the old reliaable "junk" - is the most common scrap material. Prices for scrap metal are usually given based on a price for every 100 pounds, or Per Hundred (PH).

Non-Ferrous metals are those metals that are more rare, or are more specifically purposed. Aluminum, Copper and Brass are the most common non-ferrous metals, and can be found in a wide variety of places and applications.