What exactly does the phrase "per net ton" mean. I have a couple of scrap yards give me steel prices as x$ per net ton. I know what a ton is, know what a pound is but not sure what the exact meaning is there.
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What exactly does the phrase "per net ton" mean. I have a couple of scrap yards give me steel prices as x$ per net ton. I know what a ton is, know what a pound is but not sure what the exact meaning is there.
Net Ton=2000 pounds
Gross Ton=2240 pounds
Makes a big difference when figuring cents per pound.
Ah Ha! Thanks. Just to clairfy, for every 2240 lbs you scale, they will pay you for 2000 lbs?Quote:
Originally Posted by KZBell
There going to pay however they have worded it...$xxx per Gross Ton or $xxx per Net Ton.
For example...some yards pay $200 Gross Ton. $200 divided by 2240 pounds = 8.9 cents pound
now that same $200 Net Ton would be $200 divided by 2000 pounds = 10 cents pound
That's how I look at it anyway.
This has had me scratching my head for a while, particularly when reading some of the prices that guys where getting elsewhere in the country that were quite a bit more then here. So, I started paying more attention to how they were wording it and then looking at how it was worded on my receipts and the price wasn't so far off then. Maybe someone like Pistone will chime in.
Leave it to us Americans to not be able to agree on how much a ton weighs, lol
It's all about Metric -v- Imperial. In the UK we used to use Imperial weights and measures for everything, so:
Length = inches, feet, yards, furlongs, miles
Area = square feet, acres
Volume = liquid ounce, pint, gallon
Mass = ounce, pound, stone, hundredweight, ton
The thing is Imperial measurements are not base 10 (based on the decimal system), so... we have 16 ounces to a pound, 14 pounds to a stone, 112 pounds to a hundredweight, 20 hundredweight to a ton, which is 20 lots of 112 pounds, or 2240 pounds to an Imperial ton.
This worked for us, but it was hard work in terms of international trade, which is why we now use the Metric system more often than not, with 1000 kilos to the ton. Beer is still sold in pint glasses though, even if technically it is 568 millilitres!
Talk about confusing - some of that is the same here but we don't have furlongs (except in horse races), stone or hundredweight. And ton is not the same. They tried going to metric over here but that didn't work out very well, either.
It all goes back to British money. In 1066, 945 years ago William the Conqueror divided our currency (the pound) into 20 shillings. The shilling was then divided into 12 pennies. Henry II changed it a bit a hundred years later, and based it on the troy system of weighing precious metals. A pound sterling thus weighed a pound of sterling silver, or 240 pennyweights. One penny weighed 1/240th of a pound of silver.
Nearly a thousand years later and it still causes confusion wordwide :)
usually Heavy iron is bought at 2240 GT
Light iron and cars bought at 2000 NT
Hundredweight, net ton, long ton, short ton, jewish ton, gross ton. I only know one tonnage weight and that's 2240 is a ton. 20 tons to me is 44800 lbs. Its all I know and its the only way I will request a price when I have scrap to sell. Just make sure you know what you are getting as far as what price you are getting and what kinda ton they are buying it. Its pretty cut and dry. Always request a written or emailed price quote so you know exactly what you are getting so there can't be any discrepancy when you get the check. Know one wants to lose 20 bucks or more because they surprise you with the old well we only buy scrap by the gross ton and you think you are getting the short ton price. Every yard is different and they all do things there way.
Good info to know...Thanks.
Being a trucker for all those years a ton was always 2000 lbs. When I got into scrapping and it went to 2240 Gross ton I was a bit confused myself. I figured it was just a ploy for the scrap yards to make a few more pennies, but I got used to it. And every yard uses the Gross ton system here. It's just something we gotta live with.
I just checked my old tickets and they were net ton...