also: ふるがね
noun
Refers to discarded iron or metal, often for recycling. 古鉄 is the most common written form.
工場の裏には古鉄が山積みになっている。
Scrap iron is piled up behind the factory.
彼は古鉄を集めてリサイクル業者に売っている。
He collects scrap metal and sells it to a recycler.
Compound of 古 (old) and 鉄 (iron). The reading ふるがね uses the native reading for 金 (metal), while ふるてつ uses the Sino-Japanese reading for 鉄.