|
Term
|
Definition
|
| Magnesia |
A very basic refractory material used in furnaces (MgO). |
| Malleable |
Formable or ductile.
|
| Malleable Iron |
White iron that has been annealed producing a graphite shape that is raggedly spheroidal. (Appears as grape nuts in Jell-O.)
|
| Mandrel |
A "spool." A mechanical device upon which long strands of material are wound. Scrap coming off a slitter line is often "mandrel wound" as opposed to chopped. (Also "Mandril.") |
| Manganese - (Mn) |
Element (Atomic # - 25 Atomic Weight - 54.93) Manganese increases the hardness of iron and steel. Will reduce sulfur problems by forming MnS stringers. High percentages (>12%)of Mn in steel stabilizes the austenitic phase and behaves like a stainless (non-magnetic). These steels are sometimes called "Hadfield" steels for the man who discovered them. They "work harden" in that they get harder by beating on them and therefore make great wear parts like shredder hammers, grates, and railroad frogs. |
| Marine Insurance |
Insurance against loss or damage to freight while being transported by water carriers. |
| Marked Tare |
That weight shown on the side of a railroad car (stencilled on the car) shown as "tare" or "light weight," which designates the weight of the car, empty, when the car was last repaired and painted (see "Stencil Tare"). The marked tare is seldom accurate (see "Actual Tare"). |
| Market |
A general term, intended to encompass the entire supply and demand structure of the iron and steel scrap business. "The Market" is in no particular place, designates no particular grade of material, and the prices of no particular quantities are intended to be conveyed. "The Market" is generally described to be thin or weak (very little business transacted, very little interest to buy), or robust or strong (considerable business anticipated, at generally high prices). In describing a specific market, the grade of scrap and the geographic trading area involved should be stated. Also, another meaning, to market means to try to sell. |
| Market Price |
The price believed to be paid for a given grade in a particular trading area at a given
time, the price at which an appreciable tonnage can be traded. |
| Market Rejection |
The refusal of a steel mill or foundry to accept a shipment of material on the basis of quality at a time when the market for that grade of scrap was weakened, leading the shipper to believe that it was the conditions of the market which really caused the nonacceptance of the shipment, not the quality. |
