Scrap steel - the greatest recycling story ever?

When we think of recycling, we tend to think of plastic, glass and paper. The sort of stuff we see around the home and put out into the recycling bin. This is important, but the real story in recycling is scrap steel.

Global trade in scrap steel, 1998-2010

The chart above shows immense tonnages of scrap steel used annually - over 500 million tonnes per year. The whole report "World Markets for Recovered and Recycled Commodities: The End of the “Waste Era”..." is fascinating, and well worth a read.

This is obviously not the same as the 1,000 million tonnes plus of iron ore traded each year, but not grossly less. A bit sobering for Australians accustomed to feeling that they are building the world out of the Pilbara.

So why is this? Why is scrap metal so successful when we can't do the same for plastics, rubber or all the other commodities. I don't quite know, and would love to hear ideas, but my take is:

• Steel is integral to industrial societies, and useful in so many applications. As a result, there are likely to be many buyers
• Scrap steel makes high quality steel with lower energy requirements through the Electric Arc Furnace
• Steel is a cornerstone of the American economy, and formed the basis of its industrial revolution. This in turn led to a massive eruption of energy and innovation which characterises the American economy
• Steel is easily extracted, being magnetic.
• Steel is dense, and so easily transported
• It's high value, and this value can be passed down the line to a network of collectors

The trick, and a problem worth considering, is how can this be translated into other commodities? 

What is the shift that is needed to make other commodities roar like steel? 

How can Garbologie disrupt the status quo to make new industries form and grow?