Mixes of metals and metal oxides are one of the most important by-products, which come from scrap metal processors. These mixes successfully are used for production of specific building materials such a special cements, ceramic composites, specific dry mortar mixes etc. By-products, which come from scrap metal processors, until now are regarded as waste in Latvia and its storage is related with high expenses and hazards to environment. Recycling of wastes and by-products from scrap metal processors increase cost-effectiveness of its production sector, as there is no necessity to invest in the waste storage. Recycling plants and production lines, which produce modern building materials by using waste and by-products, can be as collateral branch of scrap metal processors. In this case the waste less technology has to be implemented in the production. Due to waste less technology margin of production will be increased, but hazards to environment will substantially decrease. Economically justified for small scrap metal processors is to sell waste and by-product to independent recycling factory, which is located in close region. In this case there will not be necessary to modify the present production technology, but will be possible to get extra margin by selling own waste and by-products as row material for production of unique building materials. There is no factory in the Latvia, which produces building materials by using wastes and by-products from scrap metal processors. It is necessary to create building materials by using mixes of metals and metal oxides, which could be competitiveness in the market. Information about present amount of metal mixes and prognoses in future can economically justify the profitability of new waste recycling factory in Latvia.