Scrap Value is the worth of the individual components of a physical asset that is no longer usable as a whole. The individual components are known as ‘scrap’. Scraps has worth if it can be put to any other use. Some scraps may be utilized as it is. Sometimes scraps have to be processed first before it can be reused. The scrap value of a scrap may be determine by looking at the supply and demand for the materials it can be broken down to.