Ferrite can be described most generally as a compound containing iron; Rust is a ferrite. But ferrite can also contain other metals or non metals, like zinc and magnesium.
As a scrapper, you will often come into contact with ferrite and not even know it. For example, ferrite is used as a permanent magnet material or as the core of many different types of transformers. A ferrite core is used in transformers because like steel, ferrite can be tailored to have a very high magnetic permeability.
Magnetic permeability is the property of a metal that makes it attract to a magnet. Air, for example, has a magnetic permeability of 1, meaning it doesn’t attract to a magnet any more than a vacuum. Lead has a magnetic permeability of 1 as well.
Iron, Nickel, and Cobalt however, all have large magnetic permeabilities. These are what make our magnets stick to Steel (iron alloy), Mu-Metal (nickel alloy), and Carbide (tungston carbide in a cobalt mesh).
What is Ferrite Worth?
Ferrite is worth whatever you can sell it for! When you bring it to a yard, they may take it or they may reject it.
It is a fact that ferrite contains metals. But weather or not these metals can get recycled is going to be up to the discretion of whatever yard you are trying to sell it to. After all, if they can’t sell it they won’t want to buy it
Unfortunately ferrite may not be worth anything at all, and usually can’t be sold for anything more than shred/mixed metal.
HINT: If you just slip your ferrite in along with your shred steel, the yard will not know or care for the most part.
What is Ferrite Used For?
Ferrite can be used in anything from weights, to transformer cores. It can draw a magnet (usually), and can carry a magnetic field very well.
Good Luck Scrapping!